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It's the case in all Australian states. I don't know if this is because of a copycat pattern, or if it originated from a Federal initiative, or why. I just kn
by brc 15y ago
It's the case in all Australian states. I don't know if this is because of a copycat pattern, or if it originated from a Federal initiative, or why. I just know it is a good thing because it increases the pool of premiums and produces fairly even results for the victims of traffic accidents and prevents people being bankrupted for making a mistake while driving - unless they were driving an unregistered vehicle or DUI.
- caf 15y agoEven for unregistered drivers I believe there is a "defendant of last resort" scheme for personal injury claims.
- vacri 15y agoAt least with the TAC, it's medical coverage only. The TAC picks up the tab for all medical care in road-transport-related accidents. It won't help with property damage - run into a maserati and may still be bankrupted. Property insurance is still privately run (hence 'third-party' vs 'comprehensive' car insurance)
- brc 15y agoThat's the case in all states. You can still be bankrupted by not taking out third party property insurance, but physically maiming someone for life is an order of magnitude worse than writing off someones Ferrari by running into it. All Australian states have compulsory third party personal insurance attached to the vehicle registration.
- vacri 15y agoAh, thanks, good to know. I do know that ~15 years ago someone was complaining about the high cost of victorian car rego, which was basically due to the TAC payment he didn't have in his home state.