As was stated by previous posters, the car registration process is comprised of both registration and compulsory third party (CTP). This covers bodily injury to all persons involved in a vehicular collision. You should make yourself aware of the legal requirements in Queensland.
A car with comprehensive insurance covers damage to the insured vehicle and any other property involved in the collision, theft, fire, certain damage by weather.
I just bought a 2 year-old more expensive car this week and my comprehensive coverage is under $52 aud per month and includes towing, meals and
accommodation if I am in an accident in a semi-rural or rural area and away from my residence.