new car purchase - compulsory third party?

[tdh78au]

Last week I bought a new car (Melbourne); and the breakdown of the (total) driveaway price includes a "Compulsary Third Party" of $429.

Is this a mandatory insurance requirement in Melbourne/Victoria for new cars? Additionally I've also just bought full comprehensive car insurance .... so should the dealer (or their default insurer) be refunding the Compulsary Third Party amount?

As you can guess ... first ever new car purchase!

 

[Hados]

In S.A it refers to insurance payable on your registration fee.

It will cover you for any injuries caused to other road users if you are at fault in a motor vehicle accident anywhere in Australia. If your vehicle is not registered you may be personally liable for any injuries you cause.

What car did you buy?

 

[The Y-man]

As per Hados's post above
http://www.moneystuff.net.au/Default.aspx?tabid=176

Cheers,

The Y-man

 

[Lamingtons]

Yes yes.. please share what car you drive. Living vicariously through people.

 

[Strannik]

CTP is compulsory throughout Australia

 

[boods99]

yep, compulsory third party insurance is part of your rego in WA.
Therefore not a good idea to be driving around in an unlicensed vehicle...

Boods

 

[Lil Skater]

Umm, last time I checked, compulsory meant compulsory...

I belive in NSW it's a green slip and yes to register your car you must have this, not sure about VIC but I will have to find this out.

 

[D.T.]

Compulsory in every state of Australia and not just for new cars, mainly covers personal injuries if i recall correctly.

It's required in addition to whichever level of insurance you choose from your preferred insurance company, be it none, third party or comprehensive. This covers vehicle / property damage.

 

[tdh78au]

thanks for all the responses folks ... makes a lot more sense now that i know it's part of the rego and not redundant with the actual (comprehensive) car insurance.

Bought a holden captiva 7 LX diesel in black (http://www.holden.com.au/vehicles/Captiva/LX-Diesel). Was looking around for second hand (via private sellers) and demos (at dealerships) ... and ended up haggling at the dealers for a new one (had nothing to loose) instead. End result, 40.5k drive away including few extras such as sunroof, side steps, floor mats, etc (the LX is pretty loaded with all of holden's extras to begin with).

This car is my "stop and smell the roses" moment.

 

[Hados]

nice choice of car

We're selling HEAPS of them at the moment, seem to be the flavour of the month

 

[Lamingtons]

OOooohhh nice wheels.
I'm seeing the same thing, as new cars are getting reduced in prices etc. Second hand cars that I wanted to view were asking for $8.5/9K for a 2003 model. Brand new -> $16K driveaway. Which one do you think I will go for seriously.