Who is King Price Insurance?
King Price Insurance is an insurance company that was established less than five years ago as a result of several people’s vision to do something different. Headed by Gideon Galloway, a number of individuals who had become frustrated with the approach taken by insurance companies at the time, agreed to leave their jobs in an attempt to build something new and different. With the design of modern software aimed at accurately calculating risk, Galloway set out to establish King Price Insurance. According to Galloway, their hope was to change the way people looked at insurance in South Africa through the following two elements: First, they would utilize a discounted pricing strategy (King Price Insurance expresses their belief that your monthly premiums should decrease as your car depreciates in value). Second, they disagree with the “no claim bonus,” stating that insurance companies inflate the premiums initially to decrease them if you qualify for not filing claims within a certain time frame. Unlike others, they claim to offer the low premiums from the beginning.
In June, 2012, after a few years of working on the business model, King Price Insurance opened its doors whilst also also received the backing of “Munich Re”, a global leader in reinsurance. Gideon Galloway serves as the CEO.
Where is King Price Insurance located?
The head office of King Price Insurance is at Menlyn Corporate Park CNR Garstfontein & Corobay Block A, 3rd floor Waterkloof X11, Pretoria, Gauteng, 0181. Their postal address is P.O. Box 284, Menlyn Pretoria, Gauteng, 0063.
What services does King Price Insurance offer?
King Price Insurance offers a range of short-term insurance products, including car and home insurance but is mainly known for their car insurance. So let’s take a look at that.
King Price Insurance offers comprehensive cover, third party, fire and theft cover and third party only cover.
Comprehensive cover – This covers you in the case of damage to your vehicle due to an accident, theft or hijacking, as well as any damages you cause to other parties and/or their property because of an accident.
Third party, fire and theft cover – This option covers you for theft, hijacking and any liability for damage or injury to a third party as a result of an accident. This does not cover accidental damage to your own vehicle.
Third party cover only – If you choose this option you are only covered for liability for injury to others or damage to their property should you cause an accident.
With all of these 3 choices, King Price Insurance offers coverage for car sound systems and equipment, as well as car hire, for an additional monthly premium. King Price Insurance also offers what they call “King Price Assist.” Through this benefit, you are eligible for assistance with the following:
- Roadside assist;
- Accident assist;
- Medical assist;
- Home assist.
How user-friendly is the King Price Insurance Website?
If you open King Price Insurance’s website, you will immediately notice the personal and friendly touch. From the design and theme relating to king and royalty, pictures and graphics make navigating their website a pleasant experience. The website is filled with information about their products, but written with a sense of humor. They refer to customers as royal family and talk about the royal benefits customers receive. The layout of the website is simple and very easy to follow. They also have links addressing how to file claims, their latest advertisements and other helpful information.
What are the customer reviews of King Price Insurance?
In reviewing hellopeter, King Price Insurance received slightly over 1200 reports in the past 12 months. Of those reports, 75% were compliments and only 25% were complaints. That means they received 3 times more compliments than complaints which is not something to take lightly in the insurance industry! In looking at the nature of the complaints, the largest category of complaints was that of “feedback/response.” In terms of responses to the reports, a number of compliments and complaints did not receive a response. So simply put, if King Price Insurance improved their responses a bit more, their rating would be even higher.
Summary
As a fairly recent addition to the car insurance industry in South Africa, King Price Insurance has joined the ranks with the bigger players. They claim that their main hope is to change the way people look at short-term insurance in South Africa and that they will offer insurance with decreasing premiums. The customer reviews for King Price Insurance on Hellopeter are positive, with a 75% compliment ratio which is a good indication of their level of service and not a ratio that many other insurance companies can claim. Nevertheless, and without being negative or playing the part of the “polish mother”, one must remember that they are still a new company – so time will tell if they can keep up the game. As always, we leave you with our golden tip: always familiarize yourselves with other insurance companies and make sure to compare online car insurance quotes, as well as speak with your friends and neighbors before making your final decision.
Main Subject: King Price Insurance
Loading ...
