What car insurance do you need in Australia?

What car insurance do you need in Australia by law and practically includes compulsory and optional. Legally mandatory is Compulsory Third Party insurance CTP, also called Green Slip in NSW, which covers personal injury to others if you cause accident, and is included in registration in most states except NSW where you buy separately, costing $300 to $600 per year, without it you cannot register car. CTP does not cover property damage. For property damage, not legally mandatory but strongly recommended is Third Party Property Damage insurance, which covers damage you cause to other people's cars and property up to $20M, costing $300 to $600 per year, essential because average property damage claim is $5K to $15K and you could hit luxury car worth $100K. For full protection, comprehensive car insurance is recommended, covering damage to your own car plus damage to others, plus theft, fire, vandalism, hail, flood and hire car, costing $800 to $1,500 per year. If your car is worth over $10K, financed or new, you need comprehensive, lender requires it. If car is worth $5K to $10K, at least Third Party Fire and Theft covering your car for fire and theft plus damage to others. If car is worth under $5K, Third Party Property Damage minimum. For business use, you need business use class and goods in transit if carrying artworks. So mandatory is CTP, recommended is Third Party Property minimum and comprehensive for valuable cars.