PW
Paul W

1 reviews | Active since Oct 2017

22 Dec 2023, 08:06

King Price low premiums come at a cost. Beware

In summary. Avoid them and go to a company that is transparent about how they pay out a car loss claim. King Price claim they pay out retail value on a vehicle. Absolutely NOT true. I bought a Hyundai H*** for 120 000. ****** 6 months later. KING Price claim retail value at 54 000! It is IMPOSSIBLE to buy one at that price. Just do a search of trade and private and you'll see ALL prices above 100 000. Their claim is simply not true

By way on contrast, I've bought a new bakkie and insured with Budget. I specifically asked what they pay out. Retail. I paid 120 000. They value it at 129 000. No nonsense retail number a la King Price.

So just avoid the low premiums offered by King Price. Have your car ****** and you'll not be able to buy an equivalent. Terrible.

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Replies (2)
King Price Insurance
King Price Insurance's reply22 Dec 2023, 09:51
Official
We're so sorry that you’re unhappy with us. We have an internal dispute resolution team that’s qualified and trained to assist in such matters. You can lodge an objection to the outcome of your claim by emailing a detailed dispute to ***
PW
Paul W's update16 Jan 2024, 15:56
Reviewer Update
So. After multiple attempts trying to get them to apply a reasonable retail value and failing, I wrote to Wendy Knowler. Amazingly they decided that the 50% discount on realistic retail prices was probably not correct. They've just paid out more than double their original offer.

Two take aways - never give up with the attempts to get your insurer to do the right thing. And if you have no joy, deploy Wendy!!!