Title: Misleading “Decreasing Premiums” Claim – King Price Increased My Premium by 25% Despite All Safety Features!

I have been a loyal King Price client with 5 vehicles and household contents insured for a total premium of R2,478.16 per month.

On 30 September, I received my renewed policy schedule and was shocked to see that my new monthly premium had increased to R2,981.77 — a 25% increase in just 12 months!

King Price’s slogan and advertising claim that they are “the only insurer that decreases your premiums monthly as your car loses value.” However, this is clearly not the case in my situation.

When I queried the increase, I was told that my NP200 is now considered a ‘high-risk vehicle’ and that this justified the higher premium. What makes this even more frustrating is that:

All my vehicles are fitted with Cartrack trackers and cameras, offering full visibility and theft recovery support.

I also have the Car Watch option active on all vehicles for additional security.

Changes were made to my policy without any consultation or consent.

Despite these safety measures, King Price still drastically increased my premiums while continuing to advertise “decreasing premiums.” This feels misleading and *********, as clients are attracted by promises that clearly don’t hold true in practice.

I would appreciate a detailed explanation from King Price regarding this 25% increase, especially considering the high level of security in place and the company’s own marketing claims.