Third Party Property Damage Car Insurance
Basic car insurance if you’re at fault, so you’re covered for damage to someone else’s car or property.
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What does Third Party Property Damage Car Insurance cover?
Basic cover for damage to someone else's car and property when you’re at fault.
Why Westpac?
One less step
Sort out your insurance and banking together.
Flexible payment options
No extra cost to pay by the month so you can better manage your budget.1
All in one place
See your insurance policies next to your bank accounts in the App.2
Any driver cover
Cover for anyone you let drive your car, so long as they’re legally allowed to drive.3
Benefits for you
$20,000,000 legal liability for damage to other people’s property
Cover to pay compensation when a car accident is your fault.
Legal costs
Cover to pay all legal costs for any court proceedings from an approved claim.
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The details on what’s covered
Unsure about what’s included in Third Party Property Damage Car Insurance? Don’t worry, find what you need here.
For full details of the terms, conditions, limits and exclusions that apply please read the Product Disclosure Statement (PDS) (PDF 375KB) before making a decision to purchase the insurance.
Frequently asked questions
What type of car insurance do I need?
The type of car insurance you need depends on your individual circumstances and requirements. Here’s a breakdown of the most common types of car insurance to help you decide:
- Compulsory Third Party (CTP) Insurance: Mandatory insurance required by law for all vehicles registered in Australia. CTP insurance covers you for legal liability if you injure or kill someone in a motor vehicle accident. It doesn’t cover damage to your vehicle, other people’s property, or any other types of damage.
- Third Party Property Damage Insurance: This covers damage you cause to other people's property (e.g., their car or home) but doesn’t cover damage to your own vehicle. It may be a good option if you still want to protect yourself against any legal liability and financial claims from others.
- Comprehensive Car Insurance: This provides the highest level of protection. It covers you for damage to your vehicle and other people's property, even if you're at fault. It can also include cover for theft, fire, vandalism and natural disasters.
What should I consider when choosing car insurance?
Consider factors like the value of your vehicle, how much you drive, your budget and your risk tolerance when choosing the right car insurance. Always read the Product Disclosure Statement (PDS) to make sure you have the cover that best meets your needs.
How can I reduce my car insurance premiums?
Opting to increase your basic excess may reduce your premium for Comprehensive Car Insurance. The basic excess is the amount you need to pay as a contribution to each claim.
If you choose Comprehensive Car Insurance, you may also be able to save on your premium when you select the ‘named driver option’4 and list all the drivers on your policy.
What is an excess, and when do I need to pay it?
An excess is the amount you may need to contribute towards a claim. It can be payable whenever you are the at fault driver or if the at fault driver’s details are incorrect, unavailable or you’re unable to get them at the time of the incident. The amount of the excess can vary depending on factors such as the age of the driver or whether the driver is listed on your policy. More than one excess may apply. You may choose to add the option to remove the excess for windscreen claims for an additional fee.
Things you should know
1Pay by instalment at no additional cost compared with paying annually. Instalments may be subject to minor adjustments due to rounding. Note: Your financial institution may apply transaction fees to instalment payments.
2Policyholders need to ensure their personal details on their policy match with their Westpac accounts. Only primary policyholders can see policies alongside their other Westpac accounts.
3Driver exclusions apply if the driver is unlicensed, is not following the conditions of their license, refuses a drug or alcohol test, is under the influence of drugs or exceeds the legally allowed alcohol limit. Refer to the Product Disclosure Statement (PDS) (PDF 375KB) for full driver, usage and other policy exclusions as set out in the "What's not covered" section. An additional excess applies to drivers under 25.
4If you choose to reduce your premium by naming drivers on your policy, an unnamed driver will incur a $2,500 excess (this replaces the basic and all other excesses where applicable). Minimum premiums may apply.
This information does not take into account your personal circumstances. Motor Insurance is issued by Allianz Australia Insurance Limited ABN 15 000 122 850 (Allianz). Westpac Banking Corporation ABN 33 007 457 141 arranges the initial issue of the insurance under a distribution agreement with Allianz, but does not guarantee the insurance.
Before making a decision, please read the Product Disclosure Statement (PDS) (PDF 375KB) and the Premium, Excess, Discount and Options Guide (PED) (PDF 81KB) to see if this insurance is right for you.
If you take out Motor Insurance with Allianz the Bank will receive a commission of up to 12% of the premium, excluding Government fees and charges, plus GST.
A target market determination has been made for this product. Please visit www.westpac.com.au/tmd for the target market determination.
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