King Price Home Contents Insurance Review 2021

Published by
Lethabo Ntsoane

King Price Home Contents Insurance covers a variety of household items. Home contents are protected against loss or damage due to a variety of occurrences. However, the King Price Home Contents Insurance excludes the following items:

  • Mobile phones,
  • Bicycles,
  • Prescription Glasses, and
  • Hearing aid

The above items that are not covered by the King Price Home Contents Insurance can be covered under the King Price Portable Possessions Insurance. 

Items are paid out at their current replacement value by King Price Insurance. Therefore, it is critical to ensure that the items insured are valued at their current market value. It is recommended that you use an accredited evaluator from the South African Bureau of Standards to determine the current value of the items you intend to insure.

Moreover, it is important to keep the valuation certificate for any insured items so that you can present it when filing a claim.

King Price Home Contents Insurance

King Price Home Contents Insurance is a type of insurance that protects a person’s valuables in their home from loss or damage. Intentional damage or loss of home contents should be avoided, as intentional damage by household members and policyholders will result in failed claims. The monthly premiums for home contents start at R50.00.

You are covered for damage to your home contents caused by theft, malicious damage, and natural disasters. The policy will repair or replace your covered home contents if they are damaged by the mentioned occurrences.

King Price Home Contents Insurance Products

Customers can choose from two products for King Price Home Contents Insurance. Comprehensive home contents insurance and fire and fury home contents insurance are among the products available. Each home contents insurance option is discussed in detail below.

Comprehensive Home Contents Insurance

The Fire and Fury home contents insurance is limited when compared to the King Price Comprehensive Home Contents Insurance. The comprehensive home contents insurance policy covers the loss or damage of items in the policyholder’s home. Items that can be insured under comprehensive home contents insurance are those belonging to the policy owner and members of the policy owner’s household.

The comprehensive home contents insurance covers the following. 

Loss of or damage to home contents

The comprehensive home contents insurance provided by King Price covers the loss and damage to your home contents caused by theft and other intentional acts. The comprehensive coverage also includes coverage for fire and explosion of home contents.

Natural disasters, malicious acts, and animals (domestic animals and pets) that cause loss or damage to insured home contents are all covered under the comprehensive policy.

Any damge to home contents that is caused by an aircraft that crashes into the policyholder’s building is covered. Objects that fall from the aircraft and cause loss or damage to personal belongings are also covered. King Price will pay towards the repairs and/or replacement of items that are insured. 

The product covers loss or damage to home contents caused by cars, falling trees, and power surges and dips. Food that has deteriorated inside a freezer or refrigerator will be replaced if the deterioration was caused by a power surge. The falling of trees is not covered if the tree was being cut. 

Subsidence

The comprehensive cover covers policyholders for any loss or damage to home contents caused by subsidence. The loss or damage to home contents must be by the downward movement of the land that supports it due to natural shifts or human activity. 

Other covers

There are other covers that you get from the comprehensive home contents insurance. Policyholders are covered for:

  • Leaking, bursting, or overflowing of water heating systems (which includes geysers, solar water heating systems, and boilers), water supply tanks, cisterns, and pressurised water pipes that form a permanent part of the building.
  • accidental damage of TVs and mirrors or glass that form part of any furniture. There’s no cover, however, for accidental damage to any other items.
  • charges made by the fire brigade or any public authority following an incident for which you may claim.
  • Temporary accommodation for the policyholder or their tenant as a result of the insured building being unfit to live in.
  • damage to, or loss of, the policyholder’s belongings if they are being transported by a registered removal company’s truck, that’s involved in an accident.

The Fire and Fury Home Contents Insurance

King Price’s Fury and Fire Home Contents Insurance is a type of home contents insurance that protects you against the loss or damage of items in your home. Items covered include those belonging to the policyholder or any member of the policyholder’s household.

Fire and Fury cover loss or damage of the policy owner’s home contents caused by:

  • Fire,
  • Explosion,
  • Acts of nature such as wind, storms, lightning, hail, snow or earthquakes,
  • Malicious damage to home contents,
  • Aircraft and objects falling from them,
  • Falling trees,
  • Power surges and dips,
  • Animals and cars.
  • Subsidence,
  • Leaking, bursting, or overflowing of water heating systems (which includes geysers, solar water heating systems, and boilers), water supply tanks, cisterns, and pressurised water pipes that form permanent part of the building.

Fire and Fury Home Contents Insurance doesn’t cover any loss or damage arising from the theft of home contents. Furthermore, the cover doesn’t cover any ruins to home contents caused by attempted theft. The Fire and Fury Home Contents Insurance offers a limited cover than the comprehensive cover.

Advantages of King Price Home Contents Insurance

  • The solution provides products that are well-known in the industry.
  • There are various products to choose from.
  • Products can be easily distinguished.
  • A wide range of products are available to cover a wide range of scenarios.
  • Premiums start at R50.00, depending on the coverage.
  • After subscribing to the King Price Home Contents insurance, you will be covered immediately.

Disadvantages of King Price Home Contents Insurance

  • There is no cashback benefit on products.

Conclusion

King Price Home Contents Insurance offers products for those who want full coverage for their contents as well as those who want limited coverage for their home contents. Since it offers simple products, King Price’s home contents insurance may be the best way to protect your belongings. However, the company could have provided more options for their solution rather than limiting it to two.

Lethabo Ntsoane

Lethabo Ntsoane holds a Bachelors Degree in Accounting from the University of South Africa. He is a Financial Product commentator at Rateweb. He is an expect financial product analyst with years of experience in reviewing products and offering commentary. Lethabo majors in financial news, reviews and financial tips. He can be contacted at lethabo@rateweb.co.za

Published by
Lethabo Ntsoane