What if something happens to my car?
Am I covered by compulsory third party insurance?
A greenslip or compulsory third party insurance (CTP) is a legal requirement for vehicles registered in Australia. In NSW and Queensland you have a choice of third party insurer.
Your greenslip covers injury to other people when your vehicle is involved in an accident. Your greenslip does not cover damage to property, other vehicles or to your vehicle. Nor does the greenslip cover theft.
What are my car insurance options?
We have three insurance options that we can arrange through Vero Insurance Ltd. 1
These are:
- Comprehensive cover
- Third party property damage and bodily injury cover
- Third party fire and theft.
Review your options
My car is worth more than $5,000 dollars
You may want to consider Comprehensive cover. This cover protects your vehicle if it is destroyed or damaged due to an accident, theft or any other event with a choice of agreed value or market value cover. If you purchase this cover, you are automatically covered for third party property damage and bodily injury cover.
My car is worth less than $5,000 dollars
You may want to look at the following insurance options and pay a lower premium than comprehensive cover.
-
Third party property damage and bodily injury - this cover protects you against legal liability for:
- Loss or damage to other people’s property, and
- Death or bodily injury to other people not covered under CTP
insurance policy, and
- Legal costs and expenses up to $20 million in total.
This cover also provides up to $5,000 for loss or damage to your vehicle where the other driver is at fault and not insured.
- Optional cover for third party property damage and bodily injury cover. Where you choose cover for third party property damage and bodily injury, for an additional premium you can protect your vehicle against theft or attempted theft, fire, lightning or explosion up to a value of $5,000.
Things you should know
- 1.Motor Vehicle Insurance is issued by Vero Insurance Limited ABN 48 005 297 807 and arranged by Westpac Banking Corporation ABN 33 007 457 141 (the Bank). The policy is subject to conditions, limits and exclusions on cover, which are explained in the policy wording. No Westpac Group company (other than the Bank as policy arranger) has any liability in connection with the policy or this information.
- By clicking on the Vero Insurance link you will enter a third party site hosted by Vero Insurance Limited ABN 48 005 297 807 ("Vero"). Any information provided by you to the Vero hosted site including any information provided in the application process may be disclosed to Westpac Banking Corporation ABN 33 007 457 141 by Vero for administration, calculating commissions, planning, product development and research purposes. Westpac may also use your information for marketing. If you do not wish for us to use your information for marketing please refer to our Privacy Policy on how to contact us.
