So, you’re getting a commitment-free (and, of course, simple cheap) car insurance quote for your car. You’re ready to go through the motions of telling us the mileage, make and model, and the details of the person driving it most often when suddenly… You stop.
Because we’ve just asked you if you want to get a quote for our newest kid in the castle: Our agreed value car insurance. Agreed what? Agreed when? With who?
Relax. We’ve got you.
The king has introduced agreed value insurance, giving you more choice and value. Here’s a closer look at what we’re talking about.
Choosing the type of value
It’s standard procedure when you get car insurance to select the value that you’d like to cover your car for.
Retail value = What it would cost to replace your current car from a dealer, considering its age, condition and mileage. If you do an online search for your exact car (the year, mileage, and more), the prices that pop up would be the retail value.
Retail value decreases over time. The cost of new cars only ever increases.
Why this matters
If your car is written-off or stolen or hi-jacked and not recovered, the insurance pay-out wouldn’t be enough for you to replace your car with an equivalent brand-new model.
Enter agreed value. Untouched by inflation or loss of value.
The king’s agreed value insurance is just like our comprehensive car insurance option. You still get cover for accident damage, theft, hi-jacking, and damage to other people’s property (AKA third party liability). You also need to add on any accessories and non-standard fitted extras for an affordable additional fee if you want these extras to be covered.
The major difference is that with our agreed value option, you can choose the insured value that’ll be noted on your policy schedule.
What you need to know
Insuring a car for an agreed value means you’ll be covered for an agreed amount, locked for 3 years. This means you’ll know exactly how much your pay-out will be if a car is written off or stolen.
Here are some key facts:
- The insured value doesn’t decrease, so your premium won’t decrease.
- The agreed value can be up to 20% more than a car’s current retail value.
- And where can you get it? Only at King Price!
What comes next
Listen, our goal is to help you. We develop products that we believe will give you more freedom and help South Africans who want to protect their finances.
Choosing the agreed value option gives you that added layer of security. Agreed value means 100% certainty when it comes to the settlement.
Want to check out our simple cheap car insurance? WhatsApp us on 0860 50 50 50 or click here to get a commitment-free quote. T’s and C’s apply.
