Insurance Companies South Africa
Evaluation of top Insurance Companies in South Africa
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:
Are their insurance products available directly or through brokers…
Insurance companies, who make use of brokers to recruit new clients
for them, pay them substantial sums of commission and incentives. These
insurance companies’ income is generated from insurance premiums paid
by their clients. It is therefore safe to assume that the consumers are
actually paying the brokers commission through increased premiums. It
would make much more sense to directly deal with insurance companies
like King Price Insurance, where we underwrite all of our own insurance
products.
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.
How much are you paying for tracking devices and services…
Insurance companies in South Africa predominantly make use of
external service providers to provide tracking devices and services to
their clients. This results in notable extra fees that are added to
consumers’ insurance premiums. King Price Insurance purposefully set
out to find the cheapest, most effective tracking device and services
on the market. We subsequently signed a deal with Wingman who is able
to deliver this at an unbeatable price.
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, cheapest price.
You can do a
car insurance quote online now and see how much we can save you.
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