1 reviews | Active since Aug 2015
Undue premium increases
<p>I insured my vehicles with King Price just over a year ago. On my anniversary date I received notification of my annual review which resulted in a 20% increase in premiums.</p> <p> </p> <p>I then contacted King Price to find out the reason for the steep increase. It turns out that the increase in premium was largely due to a "claim" submitted in 2015 against the policy. The "claim" in question was a windscreen chip repair which is designed to save the windscreen from having to be replaced - thereby saving the insurance company around R7,500 for a new windscreen. I then spoke to a manager at King Price and he indicated that this was their policy and it could not be changed.</p> <p> </p> <p>This is the first insurance company that I have ever used that penalises their clients for windscreen repairs...</p> <p> </p> <p>It therefore appears as if it does not pay for the insured to have the windscreen chips repaired as King Price penalises their customers for saving them money! King Price paid about R200 to R250 for the windscreen repair and then wants to increase my premium by a similar amount per month for the next year!</p> <p> </p> <p>I am not sure that this is the message that King Price wants to send to it's customers - or may it is......</p> <p> </p>
Here's the thing, like all insurers, we too need to implement policy rerates to keep up the rising costs or parts and repairs... 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.
Here's the thing, like all insurers, we too need to implement policy rerates to keep up the rising costs or parts and repairs... 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.
I think King Price is missing the point here... I do not have a problem with policy rerates, I have a problem with being penalised for submitting a windscreen repair claim which actually benefits King Price more than it does me....
I think King Price is missing the point here... I do not have a problem with policy rerates, I have a problem with being penalised for submitting a windscreen repair claim which actually benefits King Price more than it does me....
Thanks to Juan from King Price for phoning and explaining the situation to me, having this sort of feedback is appreciated.
According to Juan, the manager and call centre personnel did not explain the increase correctly at the time that I spoke to them and that the increase was not due to the glass chip claim but due to a rewrite of their policies based on their 3 year history that they now have at their disposal...
Thanks to Juan from King Price for phoning and explaining the situation to me, having this sort of feedback is appreciated.
According to Juan, the manager and call centre personnel did not explain the increase correctly at the time that I spoke to them and that the increase was not due to the glass chip claim but due to a rewrite of their policies based on their 3 year history that they now have at their disposal...