Ctp does stand for compulsory third party but there's 2 types of third party. One for bodily injury (compulsory) and one for property damage (not compulsory) if your not at fault and you have to claim through your own insurance you should lose your no claim bonus!
We have a small amount of savings, wish it was more but we just can't seem to grow it any more
Last edited by mummabec; 19-08-2013 at 16:45.
CTP is COMPULSORY - you cannot register a car without it. It covers the driver, not the car. I called it CTP because it is called CTP.
Third party is optional that covers the other driver's CAR if you have an accident and are at fault. It doesn't cover your own vehicle though.
Comprehensive insurance covers both your own vehicle and the other vehicle if in an accident, at fault or otherwise.
Yes I have savings to try buy a house
It's the insurance company who deal with it.
Just say you hit me. You have no insurance. I call AAMI and claim, my car gets fixed and I go on my way. AAMI however, will chase you up, and you will have to arrange to pay back AAMI. I don't hear from you again. The insurance company is the intermediary.
Deleted because rainbow road explained for me
I agree with RR - you should def look into third party! If you go through youi it would be SO cheap and just for peace of mind! Not only that but its hardly fair to say oh well if they have their car insured and its a half decent car and I hit it, then oh well they can pay for it! I mean just because someone DOES have insurance and a nice-ish car doesnt mean they can afford to pay for the excess etc if they have to claim! Or that they dont make sacrifices to insure!
What if someone hit my car and neither of us were insured. Even though I am not at fault does it mean I get nothing?
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