Compulsory Third Party (CTP) insurance covers a number of things, including:
Financial liability
Protects drivers and owners from the financial consequences of injuring someone in a car accident
Medical treatment
Covers medical expenses, rehabilitation, and income support payments for injured people
Covers claims made against you by other road users, such as pedestrians, cyclists, drivers, and passengers
Other injury claims
Covers superannuation claims and product liability
CTP insurance does not cover damage to vehicles or property.