Only Comprehensive Insurance policy comes with an excess. Excess is the amount of money you have to co-share when a claim on your policy occurs. Regardless of the claim amount, it is usually in a range of S$500 to S$1,500 for most make and model saloon cars below 3,000cc.
Excess is usually determined by the car’s engine capacity (the higher the engine capacity, the higher the excess amount will be). Exotic cars, coupe, cabriolet, sports engine and such may warrant an excess higher than S$1,500.
Young (below age of 30 years), inexperienced (below 2 years’ driving experience) and old (above age 65 years) drivers will attract an excess above S$1,500.
Notwithstanding the above, as long as you observe road safety at all times and not involved in an accident, there is no need to pay for any of the excess stated in your policy if a claim is not necessary.