What’s included in Third Party Property Only Insurance cover?

Third Party Property Only Insurance covers you for the damage your vehicle causes to another person’s property (e.g. their car or home). It does not cover damage to your vehicle, unless it’s damaged in a no-fault accident with an uninsured driver, in which case you have limited cover.

Third Party Property, Fire & Theft Insurance provides the same coverage as Third Party Property Only Insurance. In addition, your vehicle is covered for loss or damage if it is stolen or catches fire.

Third Party Property Only cover may be sufficient if your car has a low market value. You may decide that it isn’t worth paying a higher premium for Comprehensive Car Insurance as, over time, it could outweigh the cost of replacing your vehicle if it was damaged in an accident.

While Third Party Property Only Insurance does not cover damage to your car, it does cover your liability for the damage your car causes to another person’s property, including their potentially expensive repair bills.

Note that Catch Third Party Only Insurance does provide limited cover – up to your car’s market value or $5,000, whichever is the lesser – for damage caused to your vehicle by an at-fault uninsured driver.

You must list any household members (including learner, provisional and occasional drivers) who may drive the car. Unlisted household members won’t be covered.

Any non-household members who drive the car are automatically covered. If you list them on your policy, you’ll avoid having to pay the unlisted driver excess (other excesses may apply).

People who are covered when driving your car are categorised as either:

1. Regular Driver: The person who drives the car the most and is listed as the regular driver on your policy.
2. Listed Drivers: People who also drive your car, but less often than the regular driver. They are listed as drivers on your policy.
3. Unlisted Drivers: People who might drive your car, but aren’t noted as drivers on your policy. There is an additional unlisted driver excess in the event of a claim if you decide not to list a driver. Note that in some circumstances unlisted drivers won’t be covered, e.g. if they are a household member.