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  • Amanda Bird

What Happens If You're in an Accident and You Have No Insurance?

Nobody likes the idea of being in a car accident. No one anticipates it. And when you find yourself in one, you’ll find that it can be nerve-wracking. The last thing you’d want to worry about is the insurance implications of the accident. You might not know this, but even if you don’t have insurance, you can still make a car compensation claim.


Here, your trusted Gold Coast insurance specialist shares what you need to know about claiming compensation for a vehicular accident if you have no insurance:


What Is Compulsory Third Party Insurance?


Compulsory Third Party (CTP) insurance is a type of car insurance mandated by all Australian states. It covers compensation for any third party (i.e. non-involved party) who sustains a financial loss due to a car accident.


Although the premiums for CTP insurance in Australia are quite inexpensive, most car owners choose to purchase fully comprehensive car insurance, which covers them for all kinds of incidents, including third-party injuries.


What Isn’t Covered By CTP Insurance?


Third-party insurance does not protect you from the following:


  • Medical costs

  • Injury costs

  • Car repair costs

  • Pain and suffering

  • Lost wages


What If Another Party Was At Fault?


It’s possible that another party may have been at fault. This means that they are liable for your accident-related expenses. Even if you didn’t sustain any injuries, you still can make a car compensation claim.


However, if you’re not certain who’s at fault, you can hire an experienced personal injury lawyer to help you determine the party responsible for your accident. If a third party was at fault, you’ll be entitled to compensation for your accident-related expenses.


What If You’re The Responsible Party?


There are times when you are to blame for an accident. For example, you might have caused an accident due to an aggressive driving maneuver. In this case, you’ll be the liable party.


Even if you’re the at-fault party, you still can make a car compensation claim. Of course, if you’re at fault, you’ll need to bear any expenses that you incurred. But you can still claim for injuries sustained by the other party if they were not at fault.


Can You Still Make A Car Accident Claim Without Insurance?


Even if you were to admit that you don’t have insurance, you can still make a car compensation claim. The reason is that the other party will be responsible for your accident-related expenses. In Australian states, the other party is obligated to pay for your accident-related expenses. So even if you don’t have a single dollar, you can still make a car compensation claim.


If you do have financial means, and you weren’t at fault for the accident, you still can make a car compensation claim. However, if it was your fault, you’ll be held responsible for your liability.


Conclusion


Although CTP insurance is mandatory, it only covers third-party expenses. If you get involved in a car accident, and you have no insurance, you can still make a car compensation claim. You just need to determine whether the other party was at fault.


Contact a Gold Coast insurance specialist if you wish to know more about this.


New Wave Insurance is a trusted Gold Coast insurance specialist that can answer your queries about CTP insurance. Moreover, we can help you find the right insurance for your vehicle or other assets, so you won’t ever have to worry about having no insurance should an accident happen in the future. Get in touch with us to know more about our services!


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