Car insurance

The cost of your car insurance policy is dependent on a number of factors which include (but are not limited to): 

• Driver’s age
• Type of vehicle
• Driving history
• Location
• Type of coverage

Comprehensive and Third Party car insurance are two different types of policies you can get for your vehicle. 

Comprehensive cover means you're protected against accidents, whether you or someone else is at fault. Your car is also protected should someone break in, steal it, vandalise it, or if it is damaged by storm or bushfire.

Third Party Property Fire and Theft insurance cover gives you protection against damage caused by your vehicle to someone else’s car or property. Plus cover for loss or damage to your vehicle if it is stolen or catches fire.

Car insurance in Australia provides cover for different things, depending on your type of cover.

• Compulsory Third Party (CTP) covers the people that might get injured if your vehicle is involved in an accident.
• Third Party Property covers damage to other vehicles and property in the event of an accident and you are at fault. 
• Third Party Fire & Theft covers the same things as Third Party Property, in addition to damages to your car from fire or theft.
• Comprehensive covers everything that Third Party insurance covers, along with damages to your vehicle if you are at fault. 

In Australia, Compulsory Third Party (CTP) Insurance, otherwise known as “green-slip” is required to drive legally on the roads. Other car insurance policies, such as Comprehensive or Third party are not compulsory.

Unfortunately car insurance doesn't cover everything that happens to your car. A few examples include:

• General wear & tear.
• Engine failure.
• If something happens while you are driving under the influence.
• If something happens while an unlicensed driver is at the wheel. 

There may be instances where you can add additional cover to cover specific situations. Please read our Car Insurance PDS for a much more detailed explanation of what is and is not covered.

Learner drivers are covered under Virgin Money’s car insurance cover.