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What is car insurance?
Car insurance, or motor insurance, covers your motor vehicle against financial loss and damage caused by accidents, unforeseen events and theft. It can also protect you from the financial costs of repairing or replacing another person’s vehicle in an accident where you may have been at fault.
There are four different types of car insurance in Australia:
- Compulsory Third Party Insurance (CTP)
- Comprehensive Insurance
- Third Party Insurance
- Third Party, Fire and Theft Insurance
It’s helpful to know about the various types of car insurance so you can make an informed decision about which policy is best for you.
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