What is Personal Motor Insurance?
Motor insurance provides financial protection if your vehicle is damaged, stolen, or involved in an accident. In Australia, personal motor insurance is designed for cars, SUVs, 4WDs, motorcycles, and other privately owned vehicles used for personal or family transport. Having the right policy ensures you are covered for repair costs, replacement, and liability for damage caused to others.
What Does Personal Motor Insurance Cover?
Common features of motor insurance Australia include:
Types of Personal Motor Insurance in Australia
Comprehensive Motor Insurance
The broadest level of cover, protecting both your own vehicle and liability for damage to others. Comprehensive insurance often includes extras such as windscreen replacement, roadside assistance, and new car replacement in the event of a total loss.
Third-Party Property Insurance
Covers damage your vehicle causes to other people’s property but does not cover your own car. This is a more affordable option for drivers of lower-value vehicles who still want liability protection.
Third-Party Fire and Theft Insurance
A mid-range option covering liability plus fire damage and theft of your vehicle. This type of motor insurance Australia provides essential protection without the higher cost of a comprehensive policy.
Compulsory Third Party (CTP) Insurance
Also known as a Green Slip in some states, CTP insurance is mandatory in Australia and covers liability for personal injury caused to others in an accident. It does not cover damage to vehicles or property, so it is usually paired with other motor insurance policies.
Why Consider Personal Motor Insurance?
Motor vehicles are essential for daily life, but they are also exposed to risks on the road and in storage. Personal motor insurance Australia provides protection against:
