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I supported Toymods
Location:
Sydney
Registered:
August 2002
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Re: transfer of insurance question.
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Tue, 11 January 2005 11:13
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Firstly, to save confusion - there are two types of Third Party (technically 3, but 2 will do for now)
1 - Compulsory Third Party (CTP / Greenslip)
** COVERS INJURY TO PERSONS CAUSED BY YOUR CAR **
This stays with the car as long as it remains registered - so if the car has 8 mths rego left on it, the buyer gets your 8 mths of CTP insurance with the rego.
2 - Third Party Property Damage (TPPD)
** COVERS DAMAGES TO PROPERTY CAUSED BY YOUR CAR **
This insurance is not compulsory (but highly reccomended as a minimum cover) and when you sell your car or dispose of it however - the remaining TPPD cover can be cancelled or transferred to your new vehicle - just ring your insurance company and give them the details of the new car etc..
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