King price lying to customers

Item: King Price Insurance
Rating: 1
Author: Graeme C

I am actually beyond ****ed off and disgusted with King Price now. For the second year running, you have tried to pull the wool, over my eyes, and those of your customers by 'reducing insurance monthly', but then you increase it at the end of the year even more than what the deductions would add up to....and not just a standard increase. My car premiums increased by more than 70%, and there was no accident, no claim...nothing

King price is benefitting by owning less debt risk as the value of my car decreases, but increasing the premium, and I am done.

The graph on their website clearly shows that the premiums the following year are below the previous year, despite the annual increase (which I completely understand - annual increase).

Helpful (0)

Replies (2)

King Price Insurance's replyOfficial

03 Dec 2020, 13:58

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.

But you know we do our best to save you as much money as possible.... So we have sent a copy of your message on to our Client Care division, who will be in touch shortly to discuss your policy.

King Price Insurance's reply03 Dec 2020, 13:58

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!

But you know we do our best to save you as much money as possible.... So we have sent a copy of your message on to our Client Care division, who will be in touch shortly to discuss your policy.

Graeme C's updateReviewer Update

03 Dec 2020, 16:41

I absolutely agree that it is standard for an increase, but an increase of over 70% of my premium?! Even after I had no claims, no accidents? Give me a break.

On your website, the premiums over the years get lower year on year, you should have a look at the graph. I've pasted the link here in case you've lost track of how to get to the website: https://www.kingprice.co.za/about/cheap-car-insurance/

So no, I don't know that you try your best to save me money. The decreasing monthly premiums are a smart way of pulling the wool over peoples eyes come the end of the year.

Keep well, you won't be seeing me again

Graeme C's update03 Dec 2020, 16:41

Reviewer Update