In the ACT, every driver must have Motor Accident Injury (MAI) insurance. This type of cover is equivalent to CTP insurance in most other states, or ‘Green Slip’ insurance in NSW. MAI covers your liability for injuries or deaths to third parties in an accident where you’re at fault.8
As well as MAI insurance, you may want to consider a car insurance policy with a greater level of cover when living in the ACT, such as a Youi Comprehensive car insurance policy, a Third Party Fire & Theft policy or a Third Party Property Only policy.
MAI/CTP/Green Slip insurance covers your liability for injuries or deaths to third parties in an accident where you’re at fault. This type of car insurance policy is mandatory if you want to drive legally in the ACT and in Australia. It goes by different names depending on the state or territory, and CTP insurer availability can differ between states and territories.8
Comprehensive car insurance, on the other hand, is an optional motor accident insurance that covers repair costs for yourself and other drivers, regardless of who’s at fault in an accident. It can also provide coverage for a number of other insured events, such as theft, fire, accidental damage, intentional damage, and most severe weather events like storms, hail and floods.
MAI insurance covers your liability for injuries or deaths to third parties in an accident where you’re at fault. It’s a compulsory car insurance policy in Canberra and the wider Australian Capital Territory, and you’ll need it in order to register your vehicle.8
The MAI scheme started in the ACT on 1 February 2020, replacing the previous CTP Insurance Scheme. Drivers who had paid for their CTP Insurance policies when they registered their vehicles before 1 February 2020 may have received (or be due to receive) a refund of the difference between the higher priced CTP car insurance and the lower priced MAI premium.9
You can find out more about MAI refunds on the ACT Government Motor Accident Injuries Commission website.
For Youi, yes, there are certain exclusions for each level of car insurance we offer in the ACT. Here are just some that are worth being aware of.
Some of the exclusions with Youi Third Party Property Only cover are accidental damage, intentional damage, storm, hail and flood damage, fire, theft, and personal injury-related costs to third parties.
Some of the exclusions with Youi Third Party Fire & Theft cover are accidental damage, intentional damage, storm, hail or flood, roadside assistance, hire car following an accident, and personal injury-related costs to third parties.
Some of the exclusions with Youi Comprehensive cover are damage due to poor materials or workmanship, incidents outside your coverage period, coverage for improper drivers, and effects of the climate or weather.
For full details on our car insurance policy exclusions, read the Product Disclosure Statement.
This is a complicated question and largely depends on your personal circumstances. However, there are a couple of things you might want to consider when taking out car insurance in the ACT that may lower the cost of your premium.
- Restrict the age of the people driving your car. Drivers under the age of 25 may be subject to an additional excess.4
- Increase your excess. You can reduce your premium by having a higher excess, but this means you’ll pay more when you have to claim.4