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Car insurance is there to protect you from the things you can’t predict: an uninsured driver backing into your car, your passenger opening their door into a shiny new BMW, a rogue trolley going into your car, plus accidents, storms, damage and more. If you’re in the Australian Capital Territory, make sure you’re covered.
There are four insurer providing CTP insurance in the ACT:
Each insurer is allowed to set its own premiums, within prescribed legislative limits. As of October 1 2017, prices are as follows.
| Passenger vehicle | Motorcycle up to 600cc | Motorcycle over 600cc | |
|---|---|---|---|
| GIO | $541.90 per year | $100.40 per year | $492.10 per year |
| NRMA | $545.90 per year | $100.30 per year | $493.60 per year |
| AAMI | $548.50 per year | $115.40 per year | $515.50 per year |
| Apia | $565.60 per year | $159.20 per year | $551.00 per year |
Find the full list of premiums for all other vehicle types here. All prices above assume to input tax credits.
As you can see, prices are close but GIO has the cheapest CTP insurance for passenger vehicles and motorcycles with an engine capacity over 600cc. Meanwhile, Apia charges significantly more for motorcycle CTP insurance.
During 2017, the Australian Capital Territory experienced 1,321 motor vehicle thefts, an increase of 40.7% over 2016, according to the National Motor Vehicle Theft Reduction Council (NMVTRC).
The most stolen category of car was passenger and light commercial vehicles, with 1,174 thefts. Since 2013, vehicle crime in the area has risen 103%. 125 motorcycle owners had their bike snatched during the year.
1995-2000 Nissan Pulsar N15's proved most popular car to steal amongst ACT thieves. The second most stolen vehicle was the 2002-2005 Ford Falcon BA. Cars valued between $0-$5,000 were the most likely targets of criminals, representing 58% of cases.
Vehicles are most at risk of theft on Saturday nights between the hours of 20:00 and 23:59. The next high crime level period was Sunday from 16:00 to 19:59.
In the ACT, your third party injury “Green Slip” insurance is mostly for accidents between motorists. If you’re the only party involved in an accident, and are legally “at fault” for it, you are not necessarily covered for injuries.
For example, if you hit a kangaroo and suffer resulting injuries, your CTP insurance probably won’t cover it.
Your medical expenses might be taken care of through Australia’s public health system, or you might be covered in some ways through workers’ compensation, depending on the situation. But for the most part, you’ll generally need some form of life or personal injury insurance policy, rather than car insurance.
If another motorist is at fault for the accident, then that person’s insurance can cover the costs, including resulting loss of income, rehabilitation expenses and more. Conversely, if you’re found to be at fault then your own CTP insurance might cover it, saving you from potential bankruptcy.
For additional cover, you can choose between the three major types of extra car insurance. These extra policies are not mandatory, but at least one of them is a very good idea.
Generally, third party property cover is the minimum additional cover you’ll want before getting on the road. If your car isn’t very valuable, or if you don’t want to pay more for cover, that might be all you want.
Comprehensive car insurance is generally the only cover type that can provide reliable protection for damage to your own vehicle. If you depend on having your vehicle in good condition, or if it’s valuable enough to warrant comprehensive protection, then this might be the cover type for you.
Your prices are determined for you personally, based on factors like your address, your vehicle and your driving history.
This means getting a quote is the only way to find an accurate indication of how much different insurers cost.
No one insurer will consistently be the cheapest. For example, one insurer might offer lower prices for Hyundais while another will offer cheaper cover for Toyotas. The number one key to saving money on car insurance might be to shop around and compare prices.
But make sure you’re comparing “like for like” policies. Look at features such as:
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