What’s the difference between Third Party Property and CTP Insurance?

04 October 2021

Navigating the various terms and insurance types in Australia can seem overwhelming. But learning about the difference between Compulsory Third Party (CTP) and Third Party Property Damage will help you make better decisions when choosing car insurance.

What is Compulsory Third Party insurance?

CTP covers drivers for liability for personal injuries sustained on the road — helping injured third parties cover the costs of their recovery.

Who gets CTP insurance when they register?

Across Victoria, Western Australia, Tasmania, Australian Capital Territory and Northern Territory, CTP is included in the price of a vehicle registration. This is sometimes given a different name in a registration breakdown. For example, Victoria’s CTP insurance is called the ‘Transport Accident Commission (TAC) charge’, as the TAC is the statutory insurer of third-party personal liability for road accidents in Victoria.

In New South Wales and Queensland, you need to purchase your CTP separately but this is included in your registration process in Queensland.

What’s the difference between Green Slip insurance and CTP?

Very little! In some parts of Australia, CTP is known by different terms. In New South Wales, CTP is usually called ‘Green Slip’ insurance. In the Australian Capital Territory, you might come across the phrase ‘MAI’ insurance. This refers to Motor Accident Injuries insurance.  

What is Third Party Property Damage Insurance?

What’s the main difference between Third Party Property and CTP? CTP insurance doesn’t cover you for any damage you cause to vehicles or property. This is where Third Party Property Damage — often shortened to Third Party — comes in.

In addition to covering damage you cause to other people’s cars and property while driving, GIO Third Party includes coverage for:

  • damage to your car caused by uninsured drivers if you can provide their name, address and registration number (up to $5,000), and
  • damage caused to other people’s vehicle or property by a caravan or trailer you’re towing.

Our Fire, Theft and Third Party Property Damage includes coverage for the above as well as:

  • emergency repairs for a stolen car or damage from fire
  • hire car after theft for up to 21 days, and
  • hire car after a not-at-fault incident

What other types of car insurance are there?

If you’re looking for extra peace of mind, this is where comprehensive cover comes into play.

GIO’s Comprehensive Car Insurance covers you for:

  • accidental loss or damage to your car from weather events, fire, theft, collision and more
  • damage to other people’s property arising from the use of your car
  • new car after a total loss for cars less than 2 years old
  • hire car after theft for up to 21 days
  • hire car after a not-at-fault incident
  • choice of repairer.

Comprehensive car insurance comes with optional extras, but GIO Platinum Cover includes these extras as well as coverage that isn’t included in any other insurance type (with the exception of 24/7 Roadside Assistance, which comes at an additional cost). Compare the advantages of GIO Platinum with Comprehensive insurance and Fire, Theft and Third Party Property Damage below.


Compare GIO Car Insurance

Read more:

Insurance issued by AAI Limited ABN 48 005 297 807 trading as GIO. Consider the Product Disclosure Statement before buying this insurance. This advice has been prepared without taking into account your particular objectives, financial situations or needs, so you should consider whether it is appropriate for you before acting on it.

Apple, iPhone and App Store are trademarks of Apple Inc. registered in the U.S., and other countries and regions. Google Play and the Google Play logo are trademarks of Google Inc.