1 reviews | Active since Aug 2019
Unpleasant Experience
I have been with King Price for over a Year with no claims other than a claim that they specified my item but excess was the price of item, like really. Then this happens : My premium goes unpaid for 1 month (August 2019) and no notification of King Price that policy is cancelled, then during same month i have a ******* of small amount R 6 000.00 (16 August 2019) and i submit a claim which they repudiate due to non payment. In 20 years of insurance experience any other insurance company will send you a letter to double debit or make arrangement to pay in the arrears and if you have a claim in that period you have to pay in the premium and claim will be entertained. However with King Price they make arrangements from that day you call and suspend cover for period before then but they say the policy was not cancelled. My question is, how can a policy be active but no cover ? advice to anyone stay far away as they find reasons not to pay. Never ever did any insurance company give me such bad service ever.
Unfortunately as with all insurers you will not enjoy cover if the premium is unpaid, we refer you to the following excerpt from your policy documentation :
Monthly premium
Your monthly premium is the amount that you need to pay in advance every
month, by debit order, to enjoy the insurance cover you chose. We’ll always collect
your premium in advance based on calendar months… So, if your recurring debit
order date is on the 15th of every month then we’ll always deduct your premium
for the following full calendar month on the 15th.
How and when to pay
Your monthly premium must be paid on the agreed payment date, and in the
manner agreed upon.
And if you don’t pay
Let’s say your debit order is returned by your bank, and your insurance premium
due to us isn’t paid as a result of that:
• You’ll have a grace period of 15 days from the date of payment that has been
agreed between you and us (as noted on your policy schedule), to correct the
situation and pay us. If your premium is paid on a monthly basis, the 15 day
grace period will commence from the second month that you’re insured with us.
• If the premium remains unpaid, you’ll unfortunately not be covered for the full
period that would have been covered by this unpaid premium. This break in
cover may also result in your policy being re-rated.
• Should any incident happen for which you want to claim during this 15 day
grace period, the approval of such a claim will only be considered once we
have received your premium payment in full, and no later than the 15th day
of the grace period.
Please note: If we don’t receive the payment for 2 months in a row, we might
cancel your entire policy and you’ll no longer enjoy cover.
Remember, no premium paid = no cover.
So, to ensure continuous, peace of mind cover, please make sure that there’s
enough money in your bank account every month, on the date that you asked
us to deduct your premium.
Should you dispute the outcome of your claim you may do so by emailing a detailed dispute to ***
Unfortunately as with all insurers you will not enjoy cover if the premium is unpaid, we refer you to the following excerpt from your policy documentation :
Monthly premium
Your monthly premium is the amount that you need to pay in advance every
month, by debit order, to enjoy the insurance cover you chose. We’ll always collect
your premium in advance based on calendar months… So, if your recurring debit
order date is on the 15th of every month then we’ll always deduct your premium
for the following full calendar month on the 15th.
How and when to pay
Your monthly premium must be paid on the agreed payment date, and in the
manner agreed upon.
And if you don’t pay
Let’s say your debit order is returned by your bank, and your insurance premium
due to us isn’t paid as a result of that:
• You’ll have a grace period of 15 days from the date of payment that has been
agreed between you and us (as noted on your policy schedule), to correct the
situation and pay us. If your premium is paid on a monthly basis, the 15 day
grace period will commence from the second month that you’re insured with us.
• If the premium remains unpaid, you’ll unfortunately not be covered for the full
period that would have been covered by this unpaid premium. This break in
cover may also result in your policy being re-rated.
• Should any incident happen for which you want to claim during this 15 day
grace period, the approval of such a claim will only be considered once we
have received your premium payment in full, and no later than the 15th day
of the grace period.
Please note: If we don’t receive the payment for 2 months in a row, we might
cancel your entire policy and you’ll no longer enjoy cover.
Remember, no premium paid = no cover.
So, to ensure continuous, peace of mind cover, please make sure that there’s
enough money in your bank account every month, on the date that you asked
us to deduct your premium.
Should you dispute the outcome of your claim you may do so by emailing a detailed dispute to ***