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Compulsory Third Party Insurance

Compulsory Third Party insurance (CTP) is a mandatory requirement to have when operating a rideshare vehicle in Queensland. CTP is a policy that provides compensation for when a third party (passengers, other drivers, pedestrians, cyclists) has been injured or killed due to your vehicle being involved. The compensation can include medical treatment, rehabilitation, and financial loss for the injured third-party, excluding the driver at fault of the incident.

To be a rideshare driver, you must upgrade your CTP to contain:

  1. Purpose of Use (PoU) to Ride Share and
  2. CTP Class to one of the following:
  • Class 26 (if you are using a privately owned vehicle): $585.30 annually
  • Class 4 (if you are using a rental vehicle): $625.80 annually

For more information on CTP Class Upgrades, visit the Motor Accident Insurance Commission (MAIC) CTP for Rideshare webpage.

The CTP premiums are collected by Department of Transport and Main Roads. However, you can choose your own provider when it comes to registering and insurance of your vehicle. You will be able to change insurers during the next registration renewal.

For more information on CTP premiums, visit the MAIC Insurance Premiums webpage.

It’s important to note that CTP won’t be able to cover the damage inflicted on your vehicle and other peoples’ vehicle or property. Therefore, you are able to purchase an optional cover, which is a comprehensive car insurance. This covers damages such as ones done by natural elements, accidents, and theft that have occurred to your operating vehicle. In addition, some comprehensive policies offer more add-ons that could include car towing, roadside assistance, and a replacement car.

Notes:

  • You can only change insurers closer to renewal dates
  • Since MAIC regulates the CTP prices, most premiums will fall within similar parameters.  Some insurance providers offer further top-ups, so be sure to compare your options to see what is best for you
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