MONTHLY DECREASE FOR ANNUAL INCREASE OF TRIPLE THE DECREASE AMOUNT IF NOT MORE
On 03 September 2019 I done a complete review on my policy together with updates, the policy was sent to the risk department for assessment and I was afforded the premium of R4364. On 1 October 2019 I received an email stating my policy will increase to R5311 as of 1 November 2019, I called King Price on 09 October 2019 and was then told by a gentleman Chester he will be able to offer a premium of R5061, this is a 15% increase within a month from the overall policy review in September. He said he would send it to ratings for assessment and he has informed on 10 October 2019 that R5061 is the policy amount.
This is absolutely obsurd and distasteful, it’s disgusting. King price only advertises monthly premium decreases to triple you annual review increase.
I am in no way willing to pay more than the premium offered 1 month ago after all records was updated included claims addresses etc and the risk was accepted.
I WILL BE SEEKING INSURANCE ELSEWHERE.
I have referred family and friend to King Price and will be notifying them of this!!!!
I have 5 vehicles insured with you, 2 households insured with you and portable possessions. Client care and service is **********
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King Price Insurance's replyOfficial
11 Oct 2019, 15:12Here'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.
Best regards,
King Price Insurance's reply11 Oct 2019, 15:12
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.
Best regards,
's updateReviewer Update
14 Oct 2019, 11:04Your response is inadequate and complete nonsense. I have been insured with other insurers over the past five to six years and not once did my premium increase on annual review, it actually decreased.
I’m not worried at all about your monthly R10 decreases as my policy increase is more than triple these in value.
I am also disappointed at the fact I was asked to provide a future cancellation date of insurance as I am in the process of seeking other insurance. This is utterly disgusting and unprofessional.
I will be lodging a complaint with the Ombudsman as my policy was under full review in a September and now again!!!
The increase is unaffordable and the manner in which this complaint has been handled is really something to be admired
I’m not worried at all about your monthly R10 decreases as my policy increase is more than triple these in value.
I am also disappointed at the fact I was asked to provide a future cancellation date of insurance as I am in the process of seeking other insurance. This is utterly disgusting and unprofessional.
I will be lodging a complaint with the Ombudsman as my policy was under full review in a September and now again!!!
The increase is unaffordable and the manner in which this complaint has been handled is really something to be admired
's update14 Oct 2019, 11:04
Reviewer Update
Your response is inadequate and complete nonsense. I have been insured with other insurers over the past five to six years and not once did my premium increase on annual review, it actually decreased.
I’m not worried at all about your monthly R10 decreases as my policy increase is more than triple these in value.
I am also disappointed at the fact I was asked to provide a future cancellation date of insurance as I am in the process of seeking other insurance. This is utterly disgusting and unprofessional.
I will be lodging a complaint with the Ombudsman as my policy was under full review in a September and now again!!!
The increase is unaffordable and the manner in which this complaint has been handled is really something to be admired
I’m not worried at all about your monthly R10 decreases as my policy increase is more than triple these in value.
I am also disappointed at the fact I was asked to provide a future cancellation date of insurance as I am in the process of seeking other insurance. This is utterly disgusting and unprofessional.
I will be lodging a complaint with the Ombudsman as my policy was under full review in a September and now again!!!
The increase is unaffordable and the manner in which this complaint has been handled is really something to be admired