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How MAI works
Motor Accident Insurance (MAI) is legally required in the ACT — it is the only mandatory type of car insurance. MAI is insurance for personal injuries; it covers people injured in a motor accident, regardless of who is at fault. The premium you pay for this is based on the type of vehicle and applicable taxes.
To give you an idea of pricing, the below table is for passenger vehicles that aren't entitled to the input tax credit (ITC). Your own vehicle classification may be different so it's best to check which one is applicable to your circumstances.
The above quotes were collected using a 30 year old male driver profile with a Canberra address, driving a 2022 Corolla. These prices should be used as a guide only. Your own quote will differ based on your personal circumstances.
What kinds of additional car insurance can I get?
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.
Third party property damage: Only covers your third party liability for damage to other people's property. For example, the cost of damage to another person's car.
Third party property damage with fire and theft: Includes third party liability as above, plus cover for fire and theft of your own vehicle.
Comprehensive car insurance: Generally, the only type of car insurance that can cover accidental damage, storm and hail damage, and more. Comprehensive car insurance also includes third party property damage cover.
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.
FAQs
Motor Accident Insurance (MAI) is the only legally required insurance to have in the ACT. Drivers may choose to also consider getting comprehensive, third party fire & theft or third party property damage car insurance.
Yes. Compulsory third party insurance (CTP) is the same as Motor Accident Insurance and yes, it is mandatory.
Yes, compulsory third party (CTP) insurance, also known in ACT as Motor Accident Insurance (MAI) is included in your registration. You must renew your registration every 12 months.
Peta Taylor is a publisher at Finder, working across all of insurance. She's been analysing product disclosure statements and publishing articles for over 2 years. Peta is passionate about demystifying complex insurance products to help users make well educated decisions with confidence. Peta is part of Finder's insurance awards team and works alongside editorial and insights experts to bring users the best insurance products every year. See full bio
Your guide to the car insurance products available from Budget Direct.
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