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Certificate of Currency

Learn about what a certificate of currency is when it comes to your car insurance policy in Savvy’s guide.

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, updated on February 15th, 2024       

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Car Insurance Banner - Young couple looking at car insurance documents, including their certificate of currency.

Are you wondering what a certificate of currency is for your car insurance? This document serves as proof that your car insurance is current and valid, containing vital information about your policy. However, it’s important to understand how these work and where to get them.

You can delve into the ins and outs of certificates of currency right here in Savvy’s comprehensive guide. Learn more about them, the process of obtaining them and when you might need them right here with us today.

What is a certificate of currency for car insurance and what does it include?

A certificate of currency in car insurance is an official document which serves as proof of an active and valid insurance policy. The certificate includes important details such as the policyholder's name, policy number, the effective dates of coverage and the type of insurance coverage provided.

This document provides confirmation that the vehicle is insured and helps demonstrate compliance with legal and contractual requirements. A certificate of currency provides peace of mind to you and any other party who may request it by assuring them that you have valid insurance coverage.

How do I get a certificate of currency for my car insurance policy?

To obtain a certificate of currency for your car insurance policy, you’ll need to contact your insurance provider directly. In many cases, this can be an automated process whereby you can download this document or receive it via email through their website. This can make it immediately available to you to supply for any particular reason or to simply add to your files. To do this, you’ll simply need to log into your account and find where to download it.

You may also be able to call your insurer and request the document be sent to you online or as a physical copy in some cases, so you can check with them to confirm whether this is a service they can provide.

When might I need a certificate of currency?

You may need your certificate of currency for your car insurance in various situations. Some common instances where you may require this document include:

  • Vehicle registration: when registering your vehicle with relevant authorities, they may request a certificate of currency as proof of valid insurance coverage. This is more relevant for compulsory third party (CTP) insurance in Australia.
  • Financing or leasing agreements: if you are financing or leasing a vehicle, the lender or leasing company may ask for a certificate of currency to check your coverage as part of their documentation requirements and a condition of approval. However, in some leasing agreements, insurance is offered as part of the package, meaning you wouldn’t have to go out and purchase a policy yourself.
  • Business purposes: if you use your car for business-related activities, clients or business partners may request a certificate of currency as proof of insurance coverage.

It's essential to have your certificate of currency readily available, as it acts as proof of your current car insurance policy and can help streamline various processes and transactions related to your vehicle.

Will I receive a certificate of currency for any type of car insurance?

Yes – you can obtain a certificate of currency for different types of car insurance policy. These include:

  • CTP insurance: as mentioned, there may be a requirement to produce this document when registering your vehicle. This is because this type of insurance is mandatory in Australia. However, in some states and territories, this is built into your registration cost, so you may not necessarily need to produce it in this instance.
  • Third party property damage (TPPD) insurance: under a TPPD insurance policy, you can be covered for damage you cause to someone else’s property with your car or vehicle. This is generally the cheapest form of optional insurance available to Australian drivers but offers coverage for the fewest insured events.
  • Third party fire and theft (TPFT) insurance: TPFT insurance is a step up, as it can offer protection for damage caused by theft or fire on top of the coverage available through TPPD cover. However, it doesn’t offer protection for damage to your vehicle caused in an accident.
  • Comprehensive car insurance: the highest level of protection you can buy in Australia for your vehicle, comprehensive car insurance offers the same coverage as TPPD and TPFT but adds further insured events. The most notable is damage to your vehicle in an accident, even if you’re at fault for the incident, as well as certain types of weather damage.

All coverage for the above types of insurance is subject to the terms and conditions of your car insurance policy, so it’s important to review these before you apply for coverage. You should be able to request a certificate of currency for any of these types of insurance through your insurer’s website.

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