Queensland CTP Insurance

Information about Compulsory Third Party (CTP) Insurance in Queensland.

Queensland (at the time of writing) operates an at-fault CTP scheme which was first introduced in 1936. As an at-fault scheme, CTP premiums in Queensland are cheaper but people who are injured in a road accident in Queensland are only eligible for compensation if they can prove that they were not at fault.

From 1 July 2016, Queensland will officially switch to no-fault CTP liability. This will mean that anyone sustaining severe injuries from a road traffic crash involving a registered vehicle in Queensland will be eligible for lifetime treatment, care and support, regardless of fault.

Queensland Road Statistics

  • As at 30 June 2015 there are 2,653,187 registered cars and station wagons in Queensland, making up 66.87% of all registered vehicles. Trucks, utilities and vans weighing 4.5 tons or less make up 20.13% and Motorcycles 4.87%, according to the Motor Accident Insurance Commission Queensland. (Source: MAIC).
  • The average class 1 (cars and station wagons) filed CTP premium (including levies) in 2014/15 for Queensland is $335.29. (Source: MAIC).
  • In the 2012/13 financial year, there were 6,725 CTP claims in Queensland. (Source: MAIC).
  • There were 223 fatalities on Queensland Roads in 2014. Of these, 88 deaths were alcohol/drug related (39.5%) and 65 involved speeding drivers and riders (29.1%). (Source: Department of Transport and Main Roads).
  • According to a 2014 Canstar Blue survey, 94% of people in Queensland believe they are a good driver. Only 7% admit to having hit a parked car and left the scene without leaving any details – the lowest rate out of all the other states.

 

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Queensland CTP Providers

Queensland is one of three states/territories in Australia where people have the power to choose their CTP provider. Here are the insurance companies currently (at time of writing) licensed to offer CTP insurance in Queensland:

Allianz

Allianz Australia traces its history back to 1914 when it was known as “The Manufacturers’ Mutual Accident Insurance Association Limited.” In July 2000, it changed its name to Allianz Australia. With over 3 million customers, Allianz are considered to be Australia’s fourth largest general insurer. As well as offering car insurance products, Allianz also offers home, travel, life and business insurance.

At the time of writing (November 12, 2015), Allianz’s CTP insurance, as a bonus, can offer up to $1M of cover for some sustained injuries even if you are the at-fault driver in an accident, at no extra cost. This bonus is called “At Fault Driver Protection Insurance (AFDP)” and is eligible to Allianz CTP customers aged 25 years or older with a class 1 or 6 vehicle. To get it, you must apply online or call 13 1000.

QBE

QBE Insurance began in North Queensland in 1886 as “The North Queensland Insurance Company Limited.” Upon the merging of Queensland Insurance, Bankers’ and Traders’ Equitable, QBE Insurance group Limited was listed on the Australian Stock Exchange in 1973. It has grown to become one of the top 20 insurers worldwide, with offices in 38 countries and over 17,000 staff around the globe.  QBE offers car, home, travel and business insurance.

At the time of writing (November 12, 2015), QBE is offering over-30 drivers a voucher worth up to $50 and free ‘DriverProtect’ cover of up to $1M when they switch their CTP to QBE. This ‘DriverProtect’ covers the at-fault driver for serious permanent injuries as well as death.

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RACQ

In 1905, the Automobile Club of Queensland (ACQ) was formed to “champion the rights of motorists”. The ‘R’ was added to RACQ in 1921 when King George V approved the use of the ‘Royal’ prefix in recognition of the club’s patriotic efforts during World War 1. RACQ started offering insurance during Queensland’s population explosion in the 1970’s and 80’s. Among other things, RACQ now provides roadside assistance and insurance for cars, homes, pets and travel. They have over 1.2 million members, which equates to one in four Queenslanders.

At the time of writing (November 12, 2015), RACQ CTP insurance offers an additional ‘At Fault Driver Injury Insurance Policy’ at no extra cost (read the policy) and a $10 discount off an annual RACQ Roadside Assistance fee.

Suncorp

The Suncorp Group is a mix of many different brands including AAMI, GIO, Vero, Apia and Shannons. Suncorp was 100% owned by the Queensland Government up until 1 December 1996 when it merged with the publicly listed Metway Bank. It became Australia’s second largest general insurer in 2001 when it acquired AMP’s Australian general insurance interests. The brand name ‘Suncorp’ represents everything the company does in Queensland and for banking and wealth management outside of Queensland. For general insurance outside of Queensland, Suncorp operates under the GIO brand.

At the time of writing (November 12, 2015), Suncorp CTP insurance includes ‘Driver Protection Cover’ which provides up to $1 million in benefits for specified serious injuries to eligible at-fault drivers (up to $2 million with comprehensive insurance). Drivers under 25 are currently not eligible for this driver protection cover.

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