In Australia, ctp green slip or the third party insurance is a necessary part of the responsibilities that are put on the car owners and the motorbike owners as well. It is important to notice because when you own a car or any kind of vehicle you have to take the responsibility for your actions. So it should be clear that when you are on the road you have a direct effect on your own financial level as well as you re affecting on the third party as well so it is better not to take it as a fun or a light thing rather it is a due responsibility of every citizen to make sure they abide by the various rules implemented by the law established by the local or federal government as well.
So, when we think about getting the third party insurance for a vehicle we might think how are we going to get things better for ourselves.
Third party insurance can help a lot while your drive on the road because it surely protects you from getting into a financial loss when you are at fault.
Consider the situation if you don’t have a CTP and you get into an accident on the road. In such a case if the third party is affected or their vehicle gets affected and they may also get insured because you were not following the rules or have violated the road safety rules, then there is a chance or a sure shot process that enables the third party to apply for a compensation to get the possible financial support in order to compensate their loss. In that case, you may estimate how much it would be if you have to pay or the repair and replacement bills for their car as well as for their injuries caused by your vehicle or your action. This makes sure that you will be in a great trouble if going without CTP. Whereas if you have the green slip all expenses will be taken by the insurance coverage.