04-15-2018, 08:07 AM
In Australia, broadly speaking, all vehicles are required by law to carry Compulsory Third Party (CTP) insurance which is collected by state governments as part of the annual registration fee. It covers injury to people for which you may be responsible. It is also the majority of the cost of my annual registration.
The rest is up to the individual driver. If you want to self-insure you can, or you can insure fully or partially. The costs vary from state to state, presumably based on the level of risk. I say this because Pterodactyl and I got quite different quotes for comprehensive insurance from the same company. I assume the difference was based on the fact we live in different states and cities, although we are different ages.
To give you an idea of cost, my annual registration is A$485 of which A$309 is CTP. Comprehensive insurance on the CB costs me $231 a year. I'll review the comprehensive insurance this year and maybe move to third party property only. I'm not sure I might not self insure my bike.
The rest is up to the individual driver. If you want to self-insure you can, or you can insure fully or partially. The costs vary from state to state, presumably based on the level of risk. I say this because Pterodactyl and I got quite different quotes for comprehensive insurance from the same company. I assume the difference was based on the fact we live in different states and cities, although we are different ages.
To give you an idea of cost, my annual registration is A$485 of which A$309 is CTP. Comprehensive insurance on the CB costs me $231 a year. I'll review the comprehensive insurance this year and maybe move to third party property only. I'm not sure I might not self insure my bike.