Insurance Excess is the out-of-pocket amount you have to pay when our Insurer (NTUC Income) have to pay for the damages. Our insurance policy coverage is Third-Party Only, so in case of accident and it's your fault, the Insurer will not pay for your rental motorbike repair.
For example, if your standard excess is $1,500 and the 3rd party damage claim is $8,000, that means you'll have to pay $1,500, while our Insurer pays the remaining $6,500.
Please note that:
You will not have to pay insurance excess if you choose to settle the damages directly with 3rd party (recommended). You still have to pay for our motorbike repair. If it turns out that it's NOT your fault, you will get back all the money since the 3rd party's Insurer has to cover everything.