About King Price Insurance
Founded in 2012, King Price Insurance originally offered only car insurance. Since then, the company has now expanded to offer more insurance options. The current CEO of King Price is Gideon Galloway, and the company is backed by Munich Re. The main shareholders of King Price Insurance are The Mertech Group and Stefan van der Walt (the CEO of Nikon South Africa). According to the company website, King Price was originally set up in order to break the hold of traditional insurance companies on the market, and to offer fair priced insurance to consumers.
King Price Insurance Contact Details
You'll find the headquarters of King Price Insurance at Menlyn Corporate Park, corner of Garstfontein and Corobay, Block A, 3rd floor, Waterkloof X 11, Pretoria, Gauteng 0181. The company also has a mailing address at P.O. Box 284, Menlyn, Pretoria, Gauteng 0063.
You can reach King Price by phone on 0860 00 98 72, or email them at email@example.com. The website address for King Price Insurance is www.kingprice.co.za.
Which Services Do King Price Insurance Provide?
King Price Insurance offer options for car, trailer and caravan insurance, as well as for buildings, portable possessions and household insurance.
Home Contents Insurance with King Price Insurance
King Price Insurance offers a household insurance policy that covers your belongings against damage caused by fire, explosions, natural disasters (such as storms or earthquakes), animals, malicious damage (such as vandalism), aircraft, cars and falling trees, as well as covering you against theft. The features of the policy are as follows:
- Subsidence is covered;
- Water damage is also covered, such as the damage caused by leaking pipes;
- You will be covered for the accidental breakage of glass, mirrors and televisions;
- Temporary accommodation is covered in case you should be unable to stay in your home after an insured event;
- Fire brigade charges are covered;
- There is coverage for items being transported (as long as transport is provided by a registered removal company);
- Items stolen from a washing line are covered;
- Garden furniture and leisure equipment are covered;
- Food that spoils in a fridge or freezer due to power outage is also covered;
- There is coverage for keys and locks;
- Vet expenses are covered in case your pet should be injured in a road accident;
- You will also get homeowner liability (in case someone should be injured in your home), domestic employer liability (to cover death or accident involving someone working for you), and tenant liability (to cover money owed to a landlord in the event of damage to the property);
- The policy covers items belonging to you or members of your household as well as those belonging to guests and domestic workers;
- Watches or jewellery items that are worth more than R35,000 must be specified in your policy and must also be put in a safe when not being worn;
- A valuation certificate must be shown for any jewellery item that's worth more than R15,000.
Interestingly, unlike most insurance companies, King Price Insurance also provides information about what is not covered by their policy, so you can get a clear idea of what you cannot claim for. Things not covered in a King Price Insurance home contents policy include:
- Theft or damage caused intentionally by you or with your knowledge or consent;
- Theft from outbuildings or let buildings unless there's sign of forced entry;
- Theft when a building has been unoccupied for more than 45 days;
- Contact lenses, glasses, bicycles and cell phones are not covered;
- Money, cheques, personal documents, coins and stamps are also not covered;
- You will not have coverage if your home is being used as a boarding house or commune;
- Vehicles on your property are not covered;
- Counterfeit items;
- If items are pairs only the damaged item is covered (so you cannot claim for two chairs if only one is damaged, for example);
- Scorching is not covered (things like cigarette burns);
- Items used for business are not covered.
How Are Consumer Reviews for King Price Insurance?
Hellopeter (the website that lets customers post reviews of companies) lists 1237 King Price Insurance reviews from the last twelve months. This is a fair amount of reports compared to other insurance companies that we've reviewed, though it is important to note that the reviews are for all of King Price's policies, not just for household insurance. Of these, 692 are complimentary, giving King Price Insurance a 56% positive rating. Although this isn’t the highest rating we’ve seen, it certainly isn’t the worst. Looking in more detail, we saw that many people complimented King Price's excellent customer service, and indeed all the reviews (even the negative ones) did have feedback from a King Price representative indicating that they do take customer service seriously. On the negative side, many reports complained about unclear policy explanations and increases in premiums. To be fair, many of these complaints did seem to be from car insurance customers, rather than household insurance policy holders. A 56% positive rating is quite encouraging for customers though, since it must be remembered that consumers are much more likely to post about negative experiences than about positive ones. That said, we still think that King Price, and all the other insurance companies for that matter, should aim for at least a 70% positive ratio. Anything higher would be hard to achieve seeing how we are dealing with insurance matters which often leave people disgruntled.
How User Friendly is the King Price Insurance Website?
The King Price Insurance website is fairly basic. This means that it's easy to navigate initially. However, we did find it tough to find detailed information. King Price does provide a very thorough explanation of their policies under a link titled “KPPD,” but since we didn't know what this link was it took us a while to uncover the information we needed. Once we got the brochure though, all the info was clearly explained in easy to understand language, and we really liked that there was also a section explaining what a policy doesn't cover. The King Price Insurance website makes insurance shopping simple, but we would like to see the link to the policy explanations given a better and more self explanatory title to make it easier to find.
King Price Insurance in Summary
King Price Insurance offers a range of insurance options, including a home contents policy. The company website provides an excellent explanation of their policies which is easy for even novice shoppers to understand. Consumer reviews for King Price insurance give the company a 56% rating, which is quite good, since people generally complain more than they compliment when reviewing companies. Nevertheless, we do hope to see an improvement in this review ranking as the overall ‘vibe’ of this young company seems good.
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