King Price Insurance
King Price Insurance is a private insurance company, based in South Africa, founded in 2012 by Gideon Galloway. The company specializes in short term insurance plans and is famous for its pioneer product of monthly decreasing car insurance. King Price won numerous awards for innovations and being the best short term insurer in South Africa. The company, created as an attempt to become a counterweight to expensive and dishonest insurers, quickly gained popularity and still continues to provide its customers with high-quality service at unbeatable prices.
King Price products
King Price Insurance flag product is their car insurance with monthly decreasing premiums. But you can also find many other useful and cheap short-term insurance plans for every part of your life. The company offers Personal, Business and Community insurance.
- Personal Insurance – this part of King Price offer consists of a selection of typical insurance products for buildings, home contents, portable possessions, cars, trailers and caravans. You can also buy R1 insurance – yes, you can insure some of your personal belongings for as little as R1 – and not a cent more. As for car insurance, the more cars you want to cover the bigger discount you will get, up to 20% off the price, and regardless of monthly premiums decreases, of course.
- Business Insurance – King Price has a wide range of insurance products for business encompassing every aspect of business-related issues. You can get an insurance for your buildings, machinery, electronic equipment, fleet, etc. Protect your business against accidental damage, theft, fraud, interruptions and more. Whatever you need, King Price has it. Every kind of business has different perks but also faces different challenges. Agents from King Price treat every business insurance individually, to fully answer the needs of their customers.
- Community Insurance – for all kinds of community schemes, King Price offers maintenance-backed insurance products that help increase the comfort and safety of community members. The offer includes building inspection, maintenance and monitoring expertise along with advanced risk reporting and supply chain management. There are three maintenance products that can be bought together or singly, to better suit diverse needs of various communities. All the products are fully compliant with all current legal restrictions and obligations.
Decreasing premiums pricing model
What’s all that fuss about? What is this decreasing premiums model about? The painful truth is, that in car insurance sector some regular premiums increases are, in fact, inevitable. The raising costs of repairs, spare parts, running business itself and other factors force insurers to raise their prices to stay in business. In most companies, after the premiums are increased, the price stays unchanged until the next increase comes. Which means you need to pay more and more for your car insurance. It sounds unfair, especially when you take into account the fact that your car loses its value as the years pass. King Price also needs to implement annual premiums increases. But first, thanks to constant innovations and optimizations those increases are kept to minimum. And second: those raising costs are mostly offset by the unique monthly decreasing premiums model. Basically, premiums go up at the end of a year and then, gradually, they go down over the following months. See the chart below to understand how it works:
Why choose King Price?
What makes King Price Insurance South Africa better than any other insurance company? Well, if you need more convincing than their unique pricing model offering monthly decreasing premiums, here are some other arguments:
- At “King Price” it’s you, the customer, who is a “king”. And King Price staff promises to provide you with “royal service”. Whatever your needs and expectations, you can always count on King Price team to hear you out, answer your questions and devise a solution that’s best for you.
- The award for corporate innovations was no joke – King Price looks forward to trying cutting-edge technologies, to develop new solutions and to improve the service constantly. This is all done so that you can be always offered the best, the most efficient and the cheapest service there can be.
- You won’t find any “no claim bonuses” which are so much liked by other insurers. There is no reason that you should pay more only so that a small percentage of the money is returned to you when you don’t claim what you’re fully entitled to.
- All King Price employees are like a big, loving family. And they want you to become a part of that family, too. Step by their office to talk, laugh and play games with King Price staff.
Would you like to check what others insurers have to offer? Grab Picodi discount codes and visit Hollard, Clientele, Different Life and more.
Check out King Price’s offer for car insurance: