King Price Portable Possessions Insurance Review 2021

Published by
Lethabo Ntsoane

Portable Possessions Insurance from King Price Insurance allows individuals to get cover for their personal belongings.

Portable Possessions Insurance from King Price gives policyholders the freedom to wear and carry their belongings wherever in South Africa. With the King Price Portable Possessions insurance, you may cover as many goods as you like. Items that you carry with you outside of your home are insurable.

Items are covered when you are on the road and when you are at home. Items that belong to you and your household members are eligible for coverage. You are insured immediately after accepting the King Price Portable Possessions Insurance quote, there is no waiting period.

King Price Portable Possessions Insurance Summary

King Price Portable Possessions Insurance provides cover for individuals that want to protect their personal belongings which they always carry around with them. Premiums on the King Price Portable Possessions Insurance starts from as little as R50.00. Customers can cover any item whether big or small as long as they feel that the item is of value. 

The King Price Portable Possessions Insurance can cover portable possessions that the policy owner owns and anyone that normally lives with the policy owner. Cover on the portable possessions insurance is for accidental damage, theft, and loss. The cover protects the policy owner’s insured possessions anywhere around the world. 

Unspecified and Specified items

When taking out the King Price Portable Possessions Insurance you need to specify certain items and other items can be left unspecified. The specification of items is there to help customers make relevant claims so that they don’t have to pay an excess amount on claims that are unbudgeted. 

Unspecified cover

Unspecified items are those items that are of less value and are covered for a specific amount on the King Price Portable Possessions Insurance. As a policyholder, you need to come up with a cover figure for your unspecified items. 

The figure that is chosen will be the cover amount of all your unspecified items. When choosing a cover amount, it is important not to cut corners. You need to make sure that you get the correct coverage amount for your unspecified items so that you don’t pay an excess amount when making a claim. 

The cover amount will cover all the items on the unspecified cover. The maximum cover for 1 item on the unspecified portion possessions cover is R2,000.00. Any item that is worth more than R2,000.00 must be included in the specified cover items list because it cannot be claimed in full on the unspecified cover. 

Specified cover

The specified cover is for items that one takes with them out of the house. These items are rather more expensive than those that are under unspecified cover. Items that form part of the specified cover are items that are worth more than R2,000.00 in current value. 

The specified cover from King Price has a special condition that an excess of 5% of the claim cost is applicable. Excess amount on claims has a minimum fee of R500.00. It is important to insure your most expensive possessions under the specified cover since you will have to pay an excess fee. 

Items that can be insured under the specified portable possessions cover include but are not limited to:

  • Jewellery and watches,
  • Fancy clothing,
  • Cameras and GPS units,
  • Other electronics such as laptops and tablets,
  • Golf clubs and sports equipment,
  • Prams, carrycots, and more.

There are items that are allowable to be listed as specified items but must not be covered under home contents insurance. These items include:

  • Cellphones,
  • Bicycles,
  • Hearing aids, and
  • Contact lenses and prescription specs and sunglasses.

What is not covered by the King Price Portable Possessions Insurance

  • Washing stolen from the washing line at the policy owner’s home address registered with King Price
  • Any electronic programs, data, or unlicensed software that is lost or damaged is not covered by King Price Portable Possessions Insurance
  • Money, cheques, and other negotiable instruments do not form part of the portable possessions insurance.
  • Any deterioration of insured portable possessions due to moths or vermin, cleaning, ironing, repairing, or restoring.
  • An insured watch is damaged due to overwinding, leaking batteries, or immersion in water.
  • Damage or loss that is caused intentionally by the policy owner or any members of their household to portable possessions insured.
  • Any loss or damage to the insured portable possessions which happens with the knowledge or consent of the policy owner.
  • Any items that are used to generate an income.
  • Items that are inside a car that is unoccupied that are damaged or lost.
  • Any sports equipment, remote-controlled and model toys are not covered under the King Price Portable Possessions Insurance.
  • There is no cover for racks or carriers unless they are secured to the car.

Advantages of King Price Portable Possessions Insurance

  • A policyholder can make a decision on which portable possession to insure and what not to insure.
  • Many occurrences are covered which include but are limited to theft and damage.
  • The cover amount on the specified items can be adjusted to any amount.
  • Portable possessions covered are covered anywhere in South Africa.
  • Subscription to the portable possessions insurance product can be done online.

Disadvantages of King Price Portable Possessions Insurance

  • There are no additional benefits on the cover.

Conclusion

King Price Portable Possessions Insurance is a flexible insurance product that one needs to consider. The product allows dual insurance to cover the replacement of items if stolen or damaged. Therefore, you can cover the same item on the home contents insurance and at the same time have the same item covered on the portable possessions insurance to get the payout amount that you need. 

The product allows you to cover your less personal belongings and your most valuable personal belongings under one policy. This will enable you to manage your insurance policy with ease. With the use of the King Price mobile app and website, you can make alterations to your portable possessions insurance cover at the comfort of your home.

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