Compulsory Third Party (CTP) Personal Injury Insurance - limits set?
#1
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Compulsory Third Party (CTP) Personal Injury Insurance - limits set?
Hi guys!
I am studying personal injury liability requirements as it relates to motor vehicle accidents abroad and Australia is a bit confusing to me.
From what I understand, personal injury is not included under motor vehicle insurance products but is purchased separately. What I cannot find is the minimum limit allowed and the maximum limit you can purchase. I understand that there are individual state requirements (just like the United States) but I could not find anything in the following website:
http://www.understandingmoney.gov.au...ces/#Insurance
(For example, in Connecticut, U.S., the minimum allowed is $20,000 USD for bodily injury per person, $40,000 total per accident. A reccommended limit is $500,000 for bodily injury with an additional excess layer of $1 million with options up to $50million.)
Can you advise of what you carry or if you have further information on your governing State requirements for personal injury coverage?
Thanks in advance for any feedback -
I am studying personal injury liability requirements as it relates to motor vehicle accidents abroad and Australia is a bit confusing to me.
From what I understand, personal injury is not included under motor vehicle insurance products but is purchased separately. What I cannot find is the minimum limit allowed and the maximum limit you can purchase. I understand that there are individual state requirements (just like the United States) but I could not find anything in the following website:
http://www.understandingmoney.gov.au...ces/#Insurance
(For example, in Connecticut, U.S., the minimum allowed is $20,000 USD for bodily injury per person, $40,000 total per accident. A reccommended limit is $500,000 for bodily injury with an additional excess layer of $1 million with options up to $50million.)
Can you advise of what you carry or if you have further information on your governing State requirements for personal injury coverage?
Thanks in advance for any feedback -
#2
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Not too sure about other states but check this site out for New South Wales:
http://www.maa.nsw.gov.au/
Should answer most of your questions or at least give you someone to ask...
http://www.maa.nsw.gov.au/
Should answer most of your questions or at least give you someone to ask...
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