My Very Bad and Misleading Experience with King Price for Household Insurance

I have been a loyal customer for over 12 years, paying premiums on my household contents cover of R196,100.

After my home was broken into, I lodged a claim of about R200,000 for ****** goods.

King Price’s assessor inflated the “replacement value” of my household contents to over R700,000, including second-hand and spare items I never intended to insure.

They then app**** the “average clause” and reduced my payout to only R11,000 – less than 10% of my insured value.

If my true cover was supposed to be R700,000, then my premiums should have been charged at that level all along. Instead, I paid for cover that turned out meaningless when I needed it most.

This process is misleading, unfair, and not in line with treating customers fairly principles.

I am escalating this matter to the Ombudsman for Short-Term Insurance for independent review.

⚠️ My advice to other consumers: Be cautious. What you think you are covered for may not be what you actually receive when you claim as these Insurance houses will do anything to receive premiums but equally do even more to refuse payment.