Is car insurance a thing in Australia?

Yes, car insurance is absolutely a thing in Australia and is a very large and mature market, although the structure is different from the USA. In Australia, you must have Compulsory Third Party insurance, known as CTP or Green Slip in NSW, to legally register and drive a car. CTP is included in your registration fee in most states like VIC, QLD, SA and WA, but in NSW and ACT you must buy it separately from insurers like NRMA, Allianz, QBE or GIO. CTP only covers personal injury to other people that you injure in an accident, it does not cover any damage to cars or property. On top of CTP, there are three optional but extremely common levels of additional insurance that most drivers buy. The most basic is Third Party Property Damage, which covers damage you cause to other people's cars and property. Next is Third Party Fire and Theft, which adds cover for your own car if it is stolen or burns. The highest level is Comprehensive insurance, which covers your car for accidents, theft, fire, storm, vandalism and at-fault crashes. About 75-80% of Australian drivers have comprehensive cover. Without comprehensive insurance, you could be liable for tens of thousands of dollars.