There are a great number of insurance companies in South Africa and an even greater number of brokers who sell their insurance products. This makes it particularly difficult for consumers to distinguish between the various insurance companies in South Africa. The following are top tips to evaluate insurance companies in South Africa and to determine which ones are the best:
Do they offer a ‘no claim bonus’…
A ‘no claim bonus’ is a marketing gimmick used by many insurance companies in South Africa to fool consumers into thinking that they will receive a financial reward for not claiming. In reality, these insurance companies are actually inflating their clients’ premiums at inception- just to give them their own money back at a later stage, if they qualify of course. What consumers are not aware of, is that all insurance companies in South Africa are regulated to reserve a percentage of premiums for such a ‘no claim bonus’ fund. King Price Insurance firmly says ‘NO’ to this bogus ‘no claim bonus’ and we rather give all our clients the benefit of a discounted rate IMMEDIATELY.
Do they increase their premiums annually…
Insurance companies in South Africa increase their clients’ insurance premiums in varying degrees of frequency. The truth is that, by the time you finished reading this, your car has already depreciated, a fact that seems to be ignored by most insurers. At King Price Insurance, we adopt the opposite, more transparent approach and DECREASE OUR INSURANCE PREMIUMS MONTHLY. Our clients do not have to nag or remind us, as we do this AUTOMATICALLY.
Has their risk rating methods evolved…
Experience has taught us that most insurance companies in South Africa are resistant to change and do not want to spend money on innovation. King Price Insurance on the other hand, has worked with a team of seasoned insurance and technology experts for more than three years to develop state of the art, real-time automated IT platforms – including risk rating software which is believed to be the quickest, most intelligent and most accurate system that is currently available in South Africa. This naturally translates into even more savings for our clients.
King Price Insurance may be a new player in the short term insurance industry, but we are already changing the way people look at insurance companies in South Africa in a big way. This is done through our ground-breaking insurance model that is backed by an aggressively discounted pricing strategy which offers consumers a massive saving of up to 60% on their insurance premiums.
The reason why we are doing this, is a no-brainer really. Like most people, we were disgruntled about paying more for car and home insurance than what is necessary. So around 3 years ago, we identified the loopholes in the offerings of current insurance companies in South Africa and we decided to join forces with some of the best brains in the global insurance industry to counteract them. We are seriously challenging old and outdated insurance models and turning the market on its head.
Essentially, we at King Price Insurance are driven by the simple belief that price is king. Bottom line. With King Price Insurance, the consumer is able to enjoy the same cover, but at a substantially cheaper price. And, as our name suggests, it comes with royal service too. So why search high and low for the best insurance companies in South Africa, if King Price Insurance offers you all you need… royal service, super cheap price.
You can do a car insurance quote online now and see how much we can save you.