Steve Oke Chapchap Market
August 20, 2019
- CTP Insurance Northern Territory
If you drive a car in Northern Territory, it’s important to understand how Compulsory Third Party (CTP) insurance works and what you’re covered for.
Here’s a guide to CTP insurance in the NT, how it protects you, and why it’s so important to take out additional cover through the right Comprehensive or Third Party insurance policy.
What is CTP insurance?
In the Northern Territory, CTP insurance is better known as the Motor Accidents Compensation Scheme, or the MAC Scheme for short.
The MAC Scheme provides personal injury cover should you cause a motor vehicle accident resulting in injury to or the death of others.
Do I need CTP insurance in NT?
Yes. All NT motorists are legally required to carry CTP insurance, as are drivers all over Australia. The cost of CTP insurance is automatically included in your vehicle registration fee.
How does CTP insurance work in NT?
The Territory Insurance Office (TIO), which is a division of Allianz Australia Insurance Limited, manages the MAC Scheme privately on behalf of the Northern Territory Government.
Unlike some other states, the MAC Scheme offers ‘no fault’ motor accident insurance. This means that anyone can file an accident-related injury claim in NT regardless of who is at fault.
However, there are exceptions to this rule, including drivers using a vehicle unlawfully (for example, while drink-driving) or without the permission of the vehicle’s owner.
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What does CTP insurance cover in the NT?
The MAC Scheme provides financial compensation for any third parties injured in a motor vehicle accident in the NT, regardless of where they live or where their vehicle is registered.
Specifically, the MAC Scheme provides personal injury cover for:
- Passengers in your vehicle.
- Other drivers or motorcyclists and their passengers.
- Pedestrians and cyclists.
The MAC Scheme provides a range of benefits for injury victims, including covering ‘reasonable’ expenses for hospital care, medical and dental treatment, rehabilitation services, disability payments and allowance for loss of income. TIO handles all claims-related services, from filing the initial claim to organising care with medical providers.
Is basic CTP insurance all I need in the NT?
While the MAC Scheme pays for injury and death claims due to an accident, it doesn’t pay for car repairs or property damage. To make sure you don’t get hit with a massive repair bill, you need to take out additional car insurance in the form of Comprehensive or Third Party cover.
While some drivers may try to cut costs by skipping car insurance, there are smarter ways to save money. The value of having adequate cover may only become apparent when you’re faced with the unexpected and need it most.
Knowing you’re financially protected with the right insurance policy can give you greater peace of mind behind the wheel.
What’s the difference between Comprehensive and Third Party?
Comprehensive car insurance covers your vehicle for collisions, as well as theft, fire, vandalism, weather damage and more. In addition to providing the highest level of cover for your vehicle, Comprehensive policies also feature a range of optional benefits. These may include:
- Hire car reimbursement when yours is being repaired.
- Towing and roadside assistance for emergencies.
- Windscreen cover, key replacement and more.
Third Party Property insurance is a more basic option, only paying for damage to other vehicles in the event of an accident. You might consider this type of policy if your car is worth very little, but you want to make sure that you’re not stuck paying the repair bill for someone else’s vehicle.
Whichever option you choose, taking out cover in addition to your CTP insurance is a must. Without it, you’re taking a big financial risk every time you get behind the wheel.