Most people know that the Transport Accident Commission (TAC) is a body that raises awareness about road safety but many people don’t know that the TAC is also an insurance company.
Here’s how it works: when you register your vehicle you pay what’s called a ‘TAC premium’ or a ‘TAC charge’. Your premium then goes towards the cost of the TAC scheme, a scheme that provides medical treatment, lost wages and lump sum compensation to people who have suffered injury or death in a motor vehicle accident, ie. an insurance scheme.
The availability of the TAC scheme in Victoria means that if you suffer injury or death by reason of a motor vehicle accident (even as a pedestrian, cyclist, tram or train passenger) then you, or your dependents, will be entitled to claim payment for medical treatment, lost wages and lump sum compensation.
The premium also covers you as the driver of the vehicle if you are at fault in causing injury or death to another person by reason of a transport accident. This applies even if someone is driving your vehicle without your authority.
When dealing with the TAC, a lawyer is often engaged to advise about benefits available, to assist in making claims against the TAC and to ensure that you receive the maximum amount of benefits to which you are entitled. A lawyer also guides a person through dispute resolution with the TAC, which may require an application in the Victorian court or tribunal system.
If you were involved in an accident and either your, or another vehicle involved, was not registered then you may still be entitled to benefits under the TAC scheme. However, this type of situation can be complex and you should discuss this with a lawyer.
The TAC premium does not cover any property damage. You need separate insurance for that.