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Under what circumstances should I seriously consider 3rd party only insurance. I have a limited budget. My car is a 1989 Holden Barina so is not worth a great deal. I have a learner driver son.
I have always considered that full insurance is best, but now I am on a more resricted budget, I just don't know. Would be pleased if you could offer some suggestions.
Thank you.

Any insurance is better than nothing and you should always take steps to at least ensure damage to another vehicle is covered if the driver of your car was judged to be in the wrong in the event of an accident.

Third party will provide this cover as long as the driver is named on the insurance policy and they have not broken any conditions of their licence or do not drive above the allowable legal alcohol limit.

With this type of policy you have to accept your vehicle is not covered and you will have to pay for any repairs as a result of an accident.

If however, your car was involved in an accident where the driver of another vehicle was deemed to be at fault, you have every right to seek repair costs from the other parties insurance company if they are insured.

In some cases, your third party policy may allow you to seek assistance in recovering those repair costs. You would need clarification on just how much support you could expect to receive when talking to your insurance provider about third party cover.