Dear All Singapore Stuff,
I would like to share with you on this situation which happened to me when i rented a car from Getgo.
To summarize, i got into a minor accident with a taxi driver which was ruled not in my favour.
I have taken up insurance excess which is supposedly insured by Tokio Marine Insurance (TMIS) when i rented the car from Getgo, hence the vehicle excess is $1605 and third party excess is $1605.
I have paid the vehicle excess of $1605 when Getgo provided me with the invoice for the vehicle repair.
However, i am being told to pay the third party excess without being provided any official documentation from the insurer of the amount claimed by the taxi driver. I am being told that this is industry practice and i have to pay the full excess without knowing if i have been shortchanged.
“I have previously explained to you that upon an accident, third party insurance becomes immediately due. This is the standard industry practice. Because of our special arrangement, GetGo has in fact already paid for this on your behalf and we are now seeking to recover the amount from you.” – GetGo Representative
I do understand their point and i am ready to pay the third party excess but my question is how do i know whether the $1605 I am paying is fair to the point of what the taxi driver is claiming? Assuming i only have a minor accident which only cost $100 for the repair, am i still supposed to pay $1605 for the excess?
Assuming the other party only manages to claim $100 from the insurer and i have paid the full excess of $1605. Who is keeping the remaining amount? Insurance company or GetGo? I would like to get to the bottom of this shady practice where it is unfair for the consumers because it is not transparent.
“I believe you may have misunderstood how the 3rd party excess is treated. Upon confirmation that you are at fault, the full amount becomes due immediately. What happens thereafter will be left to the respective insurers to resolve and this is not within our purview. Cases can take up to six months to resolve and this again, is not within our purview. We need to respect the due processes.” – GetGo Representative
I feel that this is not right given that there is no black and white on the amount the insurer is paying to the taxi driver, yet i am being asked to pay for the full excess amount unconditionally. I am willing to pay the amount provided there is official documentation but according to GetGo, this is industry practice and there is no transparency on the amount being claimed by the other party.