Compulsory Third Party Insurance (CTP), also known as a Green Slip in NSW, is required in order to register your vehicle. Provided your vehicle is registered, your CTP insurance covers your liability for injuries you may cause to other road users as a result of a motor vehicle accident that is your fault.
In NSW and QLD, CTP insurance also provides some cover for certain injuries you as the driver might sustain if you are involved in a motor vehicle accident that is your fault.*
CTP Insurance does not cover any damage caused to property. To cover yourself for damage caused to property by your vehicle (Legal Liability), you may want to consider Prestige Motor Vehicle Insurance
NSW CTP Scheme Reform 2017: In December 2017, the NSW Government amended the CTP Scheme to better support people injured in motor vehicle accidents on NSW roads. The new scheme is focused on early support and recovery.