Getting an insurance in Australia means you are going to follow the legal rules in your state and you will be considered as a responsible person who cares for others as well as will take responsibility of any kind of accidents and damages done to the car or others.
This means if you take on the responsibility to get the insurance you are saving yourself form possible financial losses and you are also taking care of all the related issues that may arise when or if you get into any kind of accident on the road.
Among all the different kinds of insurances that are offered or may be considered as important or the car owners are the compulsory third party insurance nsw. Though car insurance nsw include the same feature when you insure your car from a trustworthy insurer, the third party insurance is an insurance but different from what is covered in the usual car insurance
CTP or compulsory third party insurance should not be mixed with or should not be considered as the substitute for the usual car insurance because it has something different to offer.
It is better to understand that when you get a CTP you will also need to get the car insurance separately because it does not cover any kind of damages to your vehicle instead it is for the claims and damages or loss done to the third party that gets into the accident because of the insured person or the one who has obtained the CTP.
The main perks of having this one with you include the most reasonable compensation to the third party and you will not have to take care of that as the insuring company will compensate that for you.
You will not be paying for that what you have done and you will only take care of yourself if you already have your vehicle insured from the usual insurance company with proper coverage for you and your vehicle.