Quick Facts

• Only insurer in South Africa with monthly decreasing premiums
• Comprehensive car insurance from around R200-R2,000+ per month
• Founded in 2012, backed by Munich RE reinsurer
• 24/7 emergency roadside assistance included
• Contact: 0860 50 50 50 or WhatsApp same number

What is King Price Insurance?

King Price is a South African short-term insurance company. They started in 2012.

They are famous for one thing. Your premiums go down every month. This is unique in South Africa.

King Price is a real, registered insurance company. They are backed by Munich RE, a major global reinsurer.

Who Can Use King Price?

Any South African resident can get King Price insurance. You need to be 18 years or older.

You do not need a bank account with any specific bank. You can use any South African bank account.

✅ How Decreasing Premiums Work

This is what makes King Price different from all other insurers. Your car loses value every month. So your insurance gets cheaper every month.

How It Works

Month 1: You buy a car for R200,000. Your premium is R1,500 per month.

Month 2: Your car is now worth R198,000. Your premium drops to R1,485.

Month 12: Your car is worth R180,000. Your premium is now R1,350.

You save money as your car gets older. This is fair because you pay for what your car is worth now.

Traditional Insurance vs King Price

Type	What Happens
Traditional Insurance	Premium stays same or goes up each year
King Price	Premium goes down every single month

Insurance Products Available

King Price offers many types of insurance. Here are the main ones:

1. Car Insurance (Most Popular)

Comprehensive Cover: Covers damage to your car, theft, hijacking. Also covers damage to other people’s property.

Third Party, Fire and Theft: Cheaper option. Covers theft and damage to others. Does not cover damage to your own car from accidents.

Third Party Only: Cheapest option. Only covers damage to other people’s cars or property.

2. Home Insurance

Buildings Insurance: Covers the structure of your house. Covers roof, walls, floors, foundation.

Home Contents Insurance: Covers your belongings inside the house. Furniture, TV, clothes, appliances.

3. Other Products

• Motorbike insurance
• Caravan and trailer insurance
• Portable possessions (laptops, phones, cameras)
• Watercraft insurance
• R1 Insurance (special cover for bicycles, golf clubs for R1 per month)
• Life and funeral insurance (through Stangen acquisition)

⚠️ What Insurance Costs in 2025

Insurance costs depend on many things. Here are estimated ranges for 2025:

Car Insurance Monthly Costs

Cover Type	Estimated Cost
Third Party Only	R200 – R500 per month
Third Party, Fire & Theft	R400 – R800 per month
Comprehensive	R600 – R2,000+ per month

What Affects Your Premium?

• Car value: More expensive car = higher premium
• Where you live: High theft areas cost more
• Your age: Young drivers pay more
• Driving history: Accidents or claims increase cost
• Security features: Tracking device, alarm can reduce cost
• Excess amount: Higher excess = lower monthly premium

Understanding Excess

Excess is the amount you pay when you claim. If repairs cost R20,000 and your excess is R5,000, you pay R5,000. King Price pays R15,000.

Common excess amounts: R2,500, R5,000, R7,500, R10,000. Higher excess means cheaper monthly premium.

How to Get King Price Insurance

Getting insurance from King Price is simple. Here are the steps:

Step 1: Get a Quote

Online: Visit www.kingprice.co.za and click “Get a Quote”

Phone: Call 0860 50 50 50 (normal call charges apply)

WhatsApp: Message them on 0860 50 50 50

Step 2: Information You Need

For car insurance, you need:

• Your ID number
• Driver’s licence number
• Car registration details
• Car make, model and year
• Bank account details for debit order
• Current address

Step 3: Choose Your Cover

Decide which type of cover you want. Comprehensive, third party fire and theft, or third party only.

Choose your excess amount. Remember: higher excess means lower monthly premium.

Step 4: Pay First Premium

Your cover starts when your first payment goes through. You must keep paying every month.

If you miss a payment, you have no cover. This is very important to remember.

Step 5: Manage Your Policy

King Price has a self-service portal online. You can also use their mobile app.

You can update your details, see your policy, and track your decreasing premium.

✅ Claims Process

If something happens and you need to claim, here is what to do:

Step 1: Report Immediately

Call King Price emergency line: 0860 50 50 50. This line is open 24 hours, 7 days a week.

If it is a theft or crime, also report to police immediately. You need a police case number.

Step 2: Gather Information

You need to provide:

• Your policy number
• Photos of damage
• Police case number (if applicable)
• Other driver details (for accidents)
• Witness contact details (if any)

Step 3: Claim Assessment

King Price will send an assessor to look at the damage. They will decide if your claim is valid.

You must cooperate fully. Answer all questions honestly. Provide all documents they ask for.

Step 4: Repairs or Payout

If approved, King Price will arrange repairs at their approved panel beaters. Or they pay you out for total loss.

Remember: you must pay your excess amount. King Price pays the rest.

Important Claim Rules

Do This	Don’t Do This
Report immediately	Wait days or weeks to report
Tell the truth	Lie or exaggerate damage
Keep all documents safe	Throw away receipts or reports
Use approved service providers	Repair car before assessment

🚨 Insurance Scams to Avoid

Insurance fraud is a serious problem in South Africa. Here are scams to watch out for:

1. Fake Insurance Agents

Scammers pretend to work for King Price. They ask for your ID number and bank details.

How to protect yourself: Always call King Price directly on 0860 50 50 50 to verify. Do not use numbers the “agent” gives you.

2. Phishing Messages

You get SMS or email saying “40% discount if you click this link.” The link steals your information.

How to protect yourself: King Price does not send discount links. Delete these messages. Call King Price directly if unsure.

3. AI-Generated Fake Claims

New in 2025: Criminals use AI to create fake accident photos and invoices. This is insurance fraud.

Warning: If you submit a fake claim, you will be blacklisted. You may face criminal charges. No other insurer will cover you.

4. Fake Recovery Scams

After theft claim is paid, someone calls pretending to be police. They say car was recovered. They demand money to “release” it.

How to protect yourself: Police do not charge fees. Call King Price and SAPS directly to verify.

5. Unlicensed “Cheap” Insurance

Someone offers extremely cheap insurance. They are not registered with FSCA. When you claim, they disappear.

How to protect yourself: Only use FSCA-registered insurers. Check www.fsca.co.za to verify registration.

Red Flags – Never Trust Anyone Who:

• Asks for upfront payment before policy starts
• Promises unrealistic discounts (50% off, 70% off)
• Pressures you to decide immediately
• Refuses to give you written policy documents
• Cannot provide FSCA registration number
• Contacts you out of the blue with “special offers”

Report Insurance Scams

If you see insurance fraud or scams, report it:

• Insurance Crime Bureau: www.saicb.co.za
• South African Fraud Prevention Service: 0860 101 248
• King Price directly: 0860 50 50 50
• SAPS: 10111 (emergency) or your local police station

⚠️ If You Have a Complaint

Sometimes things go wrong. You have rights as a consumer. Here is what to do:

Step 1: Contact King Price First

Call their complaints department: 0860 50 50 50. Explain your problem clearly. Ask for a reference number.

Give them time to investigate. Keep records of all communications. Write down names, dates and what was said.

Step 2: Escalate if Not Resolved

If King Price does not resolve your complaint, you can escalate to the Ombudsman. This service is completely free.

Contact the Ombudsman

National Financial Ombud Scheme (NFO):

• Website: www.insuranceombudsman.co.za
• Phone: 0860 726 890
• Email: info@osti.co.za
• Address: 110 Oxford Road, Houghton Estate, Johannesburg

What Information to Provide

• Your policy number
• King Price contact details
• Summary of your complaint
• All documents (emails, letters, policy documents)
• Proof you tried to resolve with King Price first

How the Ombudsman Works

The Ombudsman is independent. They look at evidence from both sides. They make a fair decision.

If they rule in your favour, King Price must follow the ruling. This is legally binding on the insurer.

The Ombudsman can order compensation up to R800,000. Higher amounts can be agreed with the insurer.

Other Authorities

Authority	Contact	For What
FSCA	0800 110 443	Financial conduct issues
National Consumer Commission	0860 003 600	Consumer rights violations
Information Regulator	complaints.IR@justice.gov.za	Privacy / POPI Act issues

King Price vs Other Insurers

Here is how King Price compares to traditional insurance:

Feature	King Price	Traditional Insurers
Premiums	Decrease monthly	Stay same or increase
Getting Quote	Online, phone, WhatsApp	Usually through brokers
Roadside Assistance	Included 24/7	Often extra cost
R1 Insurance	Available for extras	Not available
Claims Process	Digital-first, fast	Varies by insurer

✅ Money-Saving Tips

How to Pay Less for Insurance

• Install security: Tracking device, alarm, immobiliser can reduce premiums by 10-20%
• Increase excess: Higher excess means lower monthly premium
• Bundle policies: Insure multiple cars or add home insurance for discounts
• Drive safely: No claims means lower premiums over time
• Park securely: Garage or secure parking reduces risk and cost
• Review annually: Check if your cover still matches your needs
• Pay annually: Some insurers give discount for yearly payment vs monthly

What Not to Do

• Do not lie about your driving history
• Do not under-insure to save money (you will lose out when claiming)
• Do not miss premium payments (you lose all cover immediately)
• Do not make small claims for minor damage (increases future premiums)
• Do not forget to update your details when you move house

King Price offers something unique in South Africa. Your premiums actually go down every month. This is fair because your car loses value every month.

They are a legitimate, registered insurer backed by Munich RE. They have good customer reviews and process millions in claims daily.

King Price is good for: People who want to save money over time. People who like managing insurance online or via app. People who want straightforward, simple insurance.

Get a quote for free. Compare with other insurers. Choose the best option for your situation and budget.

Remember: Always verify you are dealing with the real King Price. Call 0860 50 50 50 directly. Never trust people who contact you out of the blue with “special offers”.

Most important: Having insurance is better than having no insurance. Choose cover you can afford and pay every month. Even basic third party cover is better than nothing.