Part 8/12:

Accidents, though rare, can be financially devastating. I spoke with Malcolm Chen, who recounts an accident in 2021 involving his shared vehicle. On a rainy night, he hit a car at a traffic light, causing substantial damage and deploying airbags. Despite no injuries, the aftermath was severe: he was billed SGD 11,250 in liability charges. Subsequent insurance processes and excess fees—ranging from SGD 1,000 to over SGD 10,000 depending on the driver—highlight the financial risks involved.

Insurance coverage for shared vehicles usually includes an excess fee, which users are responsible for paying. Some companies offer collision damage waivers at additional costs, reducing the financial burden. Nonetheless, the stakes are high, making it essential for drivers to be cautious.