The Northern Territory (NT) is home to some of Australia’s brightest and wildest natural beauty, from Kakadu National Park to traversing the long and straight Stuart Highway to Uluru or plopping down with your caravan along the white sands of East Arnhem Land. Wherever you live and drive in the NT, it’s important that you have a suitable car insurance policy in place to take care of mishaps and misadventures on the roads.
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A comprehensive car insurance policy is the highest level of cover. It covers the cost of loss or damage to your car from things like theft, fires, storms, floods, malicious acts and accidental damage. It can also cover the damage you cause to someone else’s car or property in a car accident.
TPFT car insurance covers you for the damage to someone else’s vehicle or property from an accident that’s your fault, as well as for loss or damage to your own car from fire, theft with some providers offering cover for malicious acts. Some policies have limited repair cover when you’re not at fault in an accident and the other driver isn’t insured.
TPPD car insurance covers the costs of a third party’s damaged property or vehicle when you’re at fault for a motor accident. It can sometimes provide a limited amount of cover for your own car’s loss or damage as a result of the accident; however, this is limited and depends on certain circumstances (e.g. the at-fault driver isn’t insured).
CTP insurance covers your legal liability for death or injuries you cause to passengers, other drivers, road users and pedestrians in an accident that’s your fault. It’s the minimum level of cover required throughout Australia and is provided by the Territory Insurance Office (TIO) in your car registration.
While CTP insurance is a requirement for all Northern Territory, it’s still essential to determine which level of cover is right for you when deciding on additional insurance for your car.
Your significant investment shouldn’t go to waste after an accident (especially if it’s a brand-new car). Furthermore, lenders often require you to purchase comprehensive insurance if you’re taking out a car loan; in the event of an accident that results in a write-off, your loan with the financial institution can potentially be paid out.
To help you decide on the level of cover you want for your vehicle, here’s a brief rundown on what each type of cover includes.
| Insurance type | Damage to your car | Damage to another person’s car or property | Damage or loss to your own vehicle caused by theft or fire |
| Comprehensive | ✓ | ✓ | ✓ |
| Third Party Fire and Theft | ✗ | ✓ | ✓ |
| Third Party Property Damage | ✗ | ✓ | ✗ |
| Note: Many factors and considerations may affect the level of cover you can receive. You should always read your relevant Product Disclosure Statement (PDS) for specific exclusions and conditions of your cover. | |||
Car insurance can come with a wide range of benefits and features, some of which may be included automatically in your policy and others that need to be added. Keep in mind, though, that any added cover is likely to increase your minimum premiums.
Some additional benefits and optional cover for your car insurance can be:
The cost of car insurance in the will vary between the states and territories (including Northern Territory), as your premiums are based on many factors including the state you live in. Some other factors can include:
Furthermore, any additional drivers listed, optional extras or car modifications can all add to the cost of your car insurance.
If you want an idea of how much car insurance may cost you, you can complete a quote by using our free comparison service.
Car insurance is a valuable product to have on your vehicle no matter where in Australia you are, so the question is less about whether you need cover and more about whether you can afford the cost of not being covered.
For example, could you afford the repair costs for an expensive vehicle you damage in an accident that’s your fault? Or can you easily replace your own vehicle if it’s written off after an engine fire? If these scenarios and more could cause a major dent in your finances, car insurance could be handy to have to give you peace of mind that these costs can be covered by your insurance provider.
Your postcode is one factor that can play a major part in how much your insurance will cost. If you live in an area in the Northern Territory with a high car theft rate or near roads notorious for accidents, your premiums will reflect this risk to insuring your car.
Some other factors that can affect your car insurance premiums include:
If you’re looking to lower the cost of your vehicle’s insurance in the Northern Territory, you might be able to do the following (depending on your policy and needs):
Compare the Market’s Stephen Zeller is passionate about helping Australians have a better understanding of their insurance products, including car insurance. He helps ensure consumers have got the facts, no matter what level of cover they have.
Stephen has more than 30 years of experience in the financial services industry and is an Allied Member of the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) and helps review General Insurance content on Compare the Market to ensure it accurately breaks down complex insurance topics.
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