Coverages Offered by King Price Insurance South Africa

King Price Insurance South Africa is an insurance company that offers short-term insurance. Short-term insurance products that are covered by them include cars, households, buildings, specialized items, and community insurance. Indeed, the company is well known for its car insurance premium that decreases monthly.

Below, we will be discussing in detail the various products offered by King Price Insurance South Africa. However, we will take a brief look into the history of King Price Insurance South Africa.

HISTORY OF KING PRICE INSURANCE SOUTH AFRICA

This insurance company was founded by Gideon Galloway and launched in 2012. With the depreciating value of any asset, the company offered monthly insurance that reduced its premiums. Just like any law-abiding company, it was registered as a member of the South African Insurance Crime Bureau (SAICB). Munich RE is the reinsurer that reinsures King Price Insurance. As for the location, the company’s head office is located at the Waterkloof Glen, Pretoria. In the 2013 South African Service Awards, they won dual awards for the best short-term insurer and best overall newcomer.

Insurance Products Offered by King Price Insurance South Africa

Car Insurance

For those with cars registered in South Africa, you can have comprehensive car coverage with the King Price Insurance Company. Indeed, they are the only insurers that provide insurance that decreases monthly in line with the depreciating value of your car. However, note that they don’t cover taxis or cars used for emergency services, law enforcement, or towing. Their comprehensive package covers you for accident damage, theft, and hijacking.

In addition, other little accidents caused by you to other cars or properties are covered as well. Furthermore, you are entitled to a car hire if you meet the car rental company’s requirements. As a result of this, you would have rental wheels for 30 days when your car is being repaired.

Building Insurance

A part of properties that is valuable to humans is buildings, be it garages or permanent structures. Indeed, these physical things can be quite costly to repair or replace. Therefore, King Price offers comprehensive building insurance, competitive premiums, and royal service under 1 product. In case of any peril to the physical structures on your property, they have got you covered. In addition, damage to your buildings and water pipes is covered against insured perils. Although, they do not cover loose gravel paths and dam walls. Also, there should be prior information for them if you have a thatched roof as they can only get it covered if they know about it.

Home Contents Insurance

Though other companies find home content insurance boring, King Price doesn’t at all. You can claim the things that make your house a home because as long as you own it, they will cover it. The loss of any items in your home belonging to you or members of your household is covered by their comprehensive insurance. Though, this does not apply to tenants at all. The fire and fury cover only insures your items against fire or storm damage. Therefore, if you were robbed or the fire was set by burglars, this option doesn’t cover it.

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Portable Possessions Insurance

Even though King Price covers your precious items at home, you might like to insure them against damage anywhere. This is a result of certain items that you will desire to take with you outside the home. However, this can’t be insured under home contents so you need portable possessions insurance. In short, there are other rules attached to this particular insurance policy. One of them is locking your jewelry worth more than R35,000 in a safe when you’re not wearing them. Also, those kinds of jewelry are to be specified individually on your home contents policy schedule. Lastly, a valuation certificate will be required by King Price Insurance if the jewelry is worth more than R15,000.

Business Insurance

Every business is unique and encounters its own unique risks, threats, and challenges all the time. Therefore, King Price in meeting the demands has a business insurance team that is ready and able to cover for your unique needs. They majorly protect and cover retailers rather than wholesalers.

Engineering Insurance

For those who work at contract sites, you will certainly agree that they are filled with both physical and legal risks. Therefore, King Price Insurance has considered these threats and risks and came up with this insurance policy. It’s even better as you can choose the cover you want without paying for a cover you don’t need. However, you will need to get your broker on board so King Price Insurance will be able to protect you. This is due to the fact that only qualified brokers can advise best on the risks and needs.

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Agri Insurance

South African farmers were put in mind for the creation of this unique insurance policy. Loss or damage to South African farmers when accidents occur is covered by King Price South Africa. In addition, there’s an annual rebate which could be as much as 30% of the annual premium. Just like business insurance, it also requires you to get your broker on board.

Community Insurance

This particular insurance policy complies with all the prerequisites of the relevant legislation and is absolutely free. Community insurance is essential to cover money in case the community is duped by an insured person. Therefore, King Price offers an R1 million fidelity guarantee cover and public liability cover of at least R10 million.

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How to Contact King Price Insurance, South Africa

Once an accident occurs, call the emergency assistance line so the arrangement and authorization of towing your car will be done. However, if you don’t comply with this, the cost of towing and storage will be your sole responsibility. You can reach out to them by calling 0860505050. If you wish to visit them at the office, their office hour is from Monday to Friday from 8:00- 18:00.

Conclusion

We have discussed King Price Insurance and seen the benefits that come with it. They offer car insurance, buildings insurance, community insurance, and so on. You can make more research if you still want the full details on King Price Insurance.