TM
Thabo M
1 reviews | Active since Sept 2014
27 Jan 2020, 09:27
Incongruent businesses practices to marketing communication. Poor service
I opened a car insurance policy with King Price Insurance 3 years ago and was informed that my monthly premiums would decrease. However, every year, even though my risk profile decreases (ageing depreciating asset, a longer licence holder and driving experience, no claims, car parked in safe remote access estate) I receive annual inflation letters telling me my premiums are going up more than the accumulated monthly decreases. I have called to try and get an explanation behind this or get it resolved but have not received clear explanation or any solution to at least adhere to the original promise.
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King Price Insurance's replyOfficial
27 Jan 2020, 13:02Here's the thing, like all insurers, we too need to implement policy rerates to keep up the rising costs of parts, labour rates, repairs, inflation etc... Which even we can't ignore!
These costs aren't linked to the value of your car, which as you know, depreciates monthly. And unlike other insurers, King Price takes this into account and DECREASES your comprehensive car insurance premium every month.
King Price Insurance's reply27 Jan 2020, 13:02
Official
Here's the thing, like all insurers, we too need to implement policy rerates to keep up the rising costs of parts, labour rates, repairs, inflation etc... Which even we can't ignore!
These costs aren't linked to the value of your car, which as you know, depreciates monthly. And unlike other insurers, King Price takes this into account and DECREASES your comprehensive car insurance premium every month.