The short answer is yes, but the extent of your protection depends on the level of insurance. Generally, you have the following available entitlements:
- CTP Insurance: All registered vehicles must have a valid CTP Insurance policy. You will be covered for the costs of personal injury claims made against you. You are also able to make a claim for your injuries. There are, however, certain restrictions to make this claim. You will only be covered for your medical expenses and lost wages for 26 weeks. After that, you benefits will cease and closed by the relevant insurer.
- Third party Property Damage Insurance: Under this policy, you are covered for damaged caused to another person’s vehicle or property. Most policies nowadays do offer some repairs for your vehicle as well, but the average cap of repairs is $5,000.00. You can also include Fire and Theft car so you may be covered if your car is stolen or damaged by fire or attempted theft.
- Comprehensive Car Insurance: Under this policy, you will be covered for all accidental damage to your vehicle, regardless of whether you are at fault or not. This policy tends to be the most expensive but a lot of occasions it is well worth the cost given how expensive vehicles are to fix and maintain.
- Income Protection: This is a separate policy in which premiums can paid by yourself or through your superannuation funds. Should you exhaust your benefits from the CTP Insurance policy, you may consider using this policy to further protect your loss of wages because of your injuries.
- Health Insurance: This is also another policy in the event of major injuries caused by the subject motor vehicle accident. You should consider using this policy to cover the costs of ambulances, hospitals, operations, and specialists to mitigate the financial stress. Medical expenses can be quite expensive in the long run so it would be beneficial to consider this policy.
- Total and permanent disability insurance: This policy comes from your superannuation fund. Depending on the level of cover, the insurer can pay a lump sum if you become totally and permanently disabled because of the injuries caused by the subject motor vehicle accident. You should read your product disclosure statement carefully on how you can qualify.
At Alliance Compensation & Litigation Lawyers, we are experts in claiming all your entitlements should you be involved in a motor vehicle accident. We have an experienced team who can give comprehensive advice on all entitlements based on the policies that you have available.
Please note that our advice covers for New South Wales. Each insurance policy may vary from insurer to insurer or the state that you live in.
For all inquries contact us or call 02 8764 1776
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