Types of car insurance

Auto car insurance involves an array of cover types, options and shiny metallic colours. The level of cover you'll want will depend on the value of your car, how much you can afford to pay, and yes, your appetite for risk.

So what's on the motor insurance menu?

CTP greenslip auto insurance

NSW, QLD CTP insurance

VIC, TAS, WA, SA CTP insurance

Third party property

Third party property, fire and theft

Comprehensive motor insurance

Compulsory third party car insurance

Green slip insurance, or CTP car insurance, is mandatory throughout Australia you'll need it to register your car each year. So how much insurance bang do you get for your compulsory buck?

CTP greenslip insurance covers personal injuries for passengers and road users if your car is involved in an accident, including:

• if you're at fault
• if someone else driving your vehicle is at fault
• if someone in your vehicle is injured

CTP greenslip vehicle insurance does not cover the following:

• any damage to property or vehicles
• any damage to you

Some insurers now offer cover for injuries to the policy holder as part of their CTP package

Car Insurance nutshell: CTP motor insurance is compulsory so there ain't much to weigh up here. But in NSW and Queensland, you at least have the option of different providers, so make sure to run a quick CTP greenslip comparison. Unfortunately, TAS, WA, SA, NT, ACT and VIC CTP vehicle insurance doesn't offer a choice of providers.

Third party property damage car insurance

Budget car insurance doesn't come much cheaper than this. Third party property is your least expensive 'no fault' auto insurance option.

3rd party property insurance usually covers:

damage caused by you, or your nominated drivers, to another person's property

damage caused to your vehicle by an at-fault, uninsured driver

this may be limited to less than the value of the car

you will need identify the driver

3rd party property insurance does not cover damage to your car unless it's caused by an at-fault, uninsured driver

Car Insurance nutshell: Third party insurance is low cost cover to protect you against damage bills worth thousands of dollars. It's a great option if you don't think your car is worth insuring, or can't afford comprehensive insurance, and is vital if you have a habit of dinging Ferraris.

Third party property, fire and theft insurance

Yep, it's exactly the same as third party property insurance, but with additional cover in the event your car is stolen or burnt.

Car Insurance nutshell: 'No fault insurance' 3rd party property, fire and theft is cheap car insurance covering most forms of damage that aren't your fault. It's particularly relevant if you live next to a poorly monitored blacksmithy or prison.

Comprehensive car insurance

Comprehensive insurance is your premium option which covers your own property damaged in at-fault accidents, reducing your auto liability for collisions and other risks.

Car insurers provide a range of features alongside the property insurance coverage

Car Insurance nutshell: If you couldn't afford to replace your car in the event it was badly damaged, you'll want to consider comprehensive auto insurance.