KM
Kevin M
1 reviews | Active since Nov 2019
27 Aug 2021, 09:16
KING PRICE false advertising
Be careful of false advertising from KING PRICE Don't fall into the trap of "The insurer that decreases your premium every month as your vehicle value depreciates". In the past year my premium was decreased by about R50 (an average of R4 per month), to my surprise I was then sent a notification noting that due to annual review, my premium will be increased by more than R150. What's worse is that my profile (over night and day time parking) has not changed, I have never claimed from King Price. The moral of the story is that they will decrease your premium by R50 only to increase it by R150, I say its falls advertising.
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Replies (3)
King Price Insurance's replyOfficial
27 Aug 2021, 11:47Here'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 Aug 2021, 11:47
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.
KM
Kevin M's updateReviewer Update
27 Aug 2021, 12:06Your selling point is flawed. It is futile to "decrease" premiums only to increase them again by much more than you "decreased" them by. It doesn't make any sense, it is simply false advertising. Your business model is no different from other insurers whom don't claim to decrease their premiums monthly.
KM
Kevin M's update27 Aug 2021, 12:06
Reviewer Update
Your selling point is flawed. It is futile to "decrease" premiums only to increase them again by much more than you "decreased" them by. It doesn't make any sense, it is simply false advertising. Your business model is no different from other insurers whom don't claim to decrease their premiums monthly.
King Price Insurance's replyOfficial
30 Aug 2021, 12:05Thank you for your feedback.
King Price Insurance's reply30 Aug 2021, 12:05
Official
Thank you for your feedback.