Motor Insurance

[Leech]

Hi, may I know if anyone has heard of and used LonPac Insurance Bhd for their motor insurance before?

[Tortoise777]

digging old thread, i hv received the lowest quote from LonPac.

anyone has any views/info to share?

[Guyver]

Yah ... Lonpac is ok .... with ANY workshop plan and relatively low premium.

 

Their office is at Novena Square .....

[Winhelm]

anyone had experiences with Lonpac... never heard of it, insurance renewal in 3 months. must check their terms and quotes. Thanks.

[Guyver]

Basically, they are quite a new player ... so usually new player ... have more competitive rate ... in order to penetrate the market.

 

Which is pretty much like how a company would say earn lesser on certain project or even lose $$ to secure a certain project to penetrate a particular account.

 

Lonpac offers :

 

- ANY workshop plan (can go ANY where for repair)

- Windscreen excess $100 (for every replacement)

- Excess usually about $600 for car <1.6 (previously excess is usually $400)

 

As the name imply, it is from M'sia ....

 

3 months away? That's quite a long way to go ..... whatever quotation you get now is only valid for 7-14 days.

[Tortoise777]

according to the service provider, $100 to be paid if repairing at a non appointed work shop. insurance renewal for my case >1 mth is acceptable.

 

Guyver -

u r the expert, can u pls adv apart from low price, how r Lonpac's covers & services compare to others in general? Thx!

Edited November 13, 2007 by Tortoise777

[Guyver]

$100 paid for repairing "what" at a non appointed workshop?

 

As far as I know, Lonpac is ANY workshop plan.

 

Renewal of car insurance > 1 month is possible but not general "Rule of the thumb".

 

2 weeks prior to due is a good habit to avoid last minute rush.

 

Frankly, what kind of service would you or do consumers expect from an insurance company? As for coverage, it is quite similar generally, apart from the workshop type. Other than that, it's basically ... payment for claims.

 

Lonpac rates is ok .... and was one of the lowest around some time back .... till recently they adjusted their rates upwards.

 

Btw, I am not the expert lah .... just more familiar and I am only as good as what my customer esteem me to be .....

Edited November 13, 2007 by Guyver

[Coolpica]

What about EQ Insurance? My friend received a quote from them. But we haven't heard of this company before.

[Guyver]

EQ Insurance is very new ... incorporated only early 2007.

 

So just like other new insurer, their rates initially would be pretty competitive.

 

But generally, if can open an insurance company in S'pore .... sure must have strong $$ backing .... if not MAS will not even bothers to give them the license.

[Tortoise777]

humble Guyver,

apologize for the wrong msg about the "$100". just clarified - no access if accident repairing at Lonpac's appointed workshop, otherwise $600 access fee is applicable.

hv u heard anything regarding their payment for claims?

the offer i received based on 1 year old 1600cc car and 50% NCD is $535 (inclusive of GST). sound good huh?

[Scoop]

There many more insurance co out there.. some target the mass consumer market and some just provide motor ins to their own corporate clients.

 

The type of cover is generally the same Third Party only, Third party fire and Theft or Comprehensive.

 

Some ins companies quote lower premium if you use their own workshop for repairs. Some allow you the go to any workshop.

 

Differences that people should look at the Own damage excess applicable, young driver clause, new driver clause, authorise driver or any driver clause and may benefit like free usage of rental car for if your claim your own ins or wavier of policy excess.

 

 

ACE Insurance Limited

American Home Assurance Company

Allianz Insurance Co of Singapore Pte Ltd

AXA Insurance Singapore Pte Ltd

China Insurance Co (Singapore) Pte Ltd

Federal Insurance Company

EQ Insurance Company Ltd

First Capital Insurance Ltd

HSBC Insurance (Singapore) Ltd

India International Insurance Pte Ltd

Liberty Insurance Pte Ltd

Lonpac Insurance Bhd

Mayban General Assurance Bhd

Mitsui Sumitomo Insurance (Singapore)Pte Ltd

MSIG Insurance (Singapore) Pte Ltd

Nipponkoa Insurance Co Ltd

NTUC Income Insurance Co-operative Ltd

QBE Insurance (International) Ltd

Overseas Assurance Corporation Ltd

Royal & Sun Alliance Insurance (S) Ltd

SHC Capital Ltd

Sompo Japan Insurance Co (Asia) Pte Ltd

Tenet Insurance Co Ltd

TM Asia Insurance Singapore Ltd

Tokio Marine & Fire Insurance Co (S) Pte Ltd

United Overseas Insurance Ltd

[Ahyoo2002]

I am insure with mitsui mitsutomo Classic plan,

1) ZERO excess

2) Any workshop.

3) Free NCD protector if insure for more than 3 years with them.

4) 10% discount for renewal.

5) Any driver (Young/new driver inclusive).

 

But paying close to $700 for a 6 years old car.

 

I had checked with a few other insurers, none of them can offer similar rate at the same coverage.

Edited November 13, 2007 by Ahyoo2002

[Solar]

bro, submitted my particulars via the website, a lady called and said she'll help me find some quotes.. thereafter, mia..

 

few days ago, sent you a pm.. have you got it?

my insurance is due soon, appreciate a reply.

thanks

[Ultramega]

i think u mean "Mitsui Sumitomo".

 

they tie up with DBS. current promo is free $100 Esso voucher and one SONAX car grooming service.

Edited November 14, 2007 by Ultramega

[Tortoise777]

saw the promo ->http://www.dbs.com/sg/personal/insurance/driveshield/

the online instant quote that I got was $300 higher than Lonpac's offer

[Hiphiphoray]

I just renew via Lonpac too. Cheapest quote on offer.

 

Annutie lucy still dare to quote me $500 more than Lonpac.....somemore got 1k excess.

[Ahyoo2002]

I think there are 2 Mitsui Sumitomo, my one is no tie up with DBS. Mine is still cheaper than the one with $100 discount.

[Tortoise777]

Excess $1K? what car r u driving

Lonpac is cheap, but the excess is $600, it seems slightly above than others...