As with any other car insurance company, King has to answer many questions about their policies. Here are some of the King Price FAQ i.e. answers to frequently asked questions.
- Q: What is the difference between retail value and market value?
- A: The market value is the price you could reasonably expect to get for the car if you sold it privately. The retail value is the amount you could reasonably expect to pay for an equivalent car, from a car dealership. If you insure your car for its estimated retail value. So if the car is written off in an accident or stolen, you should be able to claim enough to buy a similar replacement car. Of course, this applies after you have deducted any expenses. You would not be able to claim as much if you insured it for its market value.
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- Q: Why does my car need to be inspected?
- A: Kings wants to ensure that your vehicle meets all minimum safety regulations. Then the vehicle has less chance of being in an accident. King also checks for any anti-theft devices. The procedure is an important process for older cars, and most reputable insurance companies will insist on inspecting any car that is more than 12 years old. This action does not just help us to protect our investment but hopefully it will also ensure that you are safe while on the roads.
- Q: Does my insurance cover me for anywhere outside of South Africa?
- A: King insurance also covers you for use in Zimbabwe, Mozambique, Malawi, Namibia, Swaziland, Botswana and Lesotho. Although King insurance policies cover you in these other countries, there may be additional excess charges to pay when claiming.
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- Q: Will King provide me with a hire car while mine is waiting to be repaired or replaced?
- A: King does cater to the needs of those that would want hire cars while waiting for their own to become available. King Insurance realises the important role your car plays in your life. And so they offer car owners the opportunity to add this as an additional feature to their policy. At a little extra cost and will be for a maximum of 30 days.
- Q: Will I be required to sign any documents when insuring with King?
- A: King records all telephone calls and so a policy, agreed over the phone, King considers valid without you needing to sign any documents. Recording the phone calls does not just as act as security for King. It also ensures your safety, making sure you pay for no more than you asked for and agreed to.
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- Q: What is meant by excess?
- A: All insurance companies specify an excess payment which is an amount that you as the car owner will pay towards the costs. The owner must cover these costs before the insurance company pays the rest. Insurance companies take a huge financial risk when they insure cars in this modern day and age. So it is only fair that the car owner also has some responsibility in the form of a small initial portion of the total claim.
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