CTP Insurance

Compulsory Third Party Insurance (commonly known as CTP Insurance) is a mandatory requirement and each individual car must be insured or the vehicle will not be considered legal. Therefore, a motorist cannot drive the vehicle until it is insured. A 'Green Slip,'^[2] another name by which CTP Insurance is commonly known due to the colour of the pages which the form is printed on, must be obtained through one of the five licenced insurers in New South Wales. Suncorp and Allianz both hold two licences to issue CTP Greenslips – Suncorp under the GIO and AAMI licences and Allianz under the Allianz and CIC/Allianz licences. The remaining three licences to issue CTP Greenslips are held by QBE, Zurich and IAL – NRMA. APIA now also supplies CTP but is only for over 50's who are no longer working full-time.

These state based third party insurance schemes usually cover only personal injury liability. Comprehensive vehicle insurance is sold separately to cover property damage and cover can be for events such as fire, theft, collision and other property damage.
CTP covers only personal injury liability
Third Party Insurance only covers damage that you are responsible for to someone else's property or vehicle .
Third Party Fire and Theft Insurance covers damage that you are responsible for to someone else's property or vehicle & It will cover your vehicle in the event of a fire or theft.
Comprehensive Insurance covers damage to your vehicle from an accident and any damage that you are responsible for to someone else's property or vehicle.