Myths develop in all cultures and in all field of human life. That is why some myths have also been formed by the people who ponder upon the need of having a compulsory third party insurance in Australia.
There are people who consistently argue that why there is a compulsion of having a green slip even if you are going to get the vehicle insurance later on and what is the difference and purpose of doing so.
People have developed some myths and wrong conception regarding the green slip as well as they don’t have a clear idea of what it covers and which things are not covered by this insurance. The best way to break the wrong conceptions about a green slip or compulsory third party insurance is to go through the details and compare the offers and things which are not included. This will surely help everyone to understand what they are getting wrong.
One of the myth is that when you have a green slip you always get a cover for any kind of damages and injuries of the third party and you as well. This is totally wrong as it only covers the third party damages and injuries and not the person having it.
Another common misconception is that the CTP is just like other insurance and will cover your vehicle accordingly. This is wrong as it does offer cover to a certain extent when you are not at fault but it does not resemble or may not be used as a substitute for the usual car insurance.
Some people think it costs a lot and the prices may vary within different areas. It does not cost too much and the prices do not vary at all because it comes under the government law and that monitors the cost.