Decreasing Premiums Decreasing premiums automatically lower your monthly cost in line with your car’s reducing market value, so you stop paying yesterday’s price for today’s car.

What is decreasing premiums?

Premium drops every month as your car depreciates. As a King Price client you will see decreasing premiums referenced on your policy schedule, in your claim documents, or in conversations with client care on 0860 50 50 50.

How decreasing premiums works

decreasing premiums is governed by the terms set out in the King Price Policy Document and the individual schedule issued for your policy. Your schedule always overrides the master wording where they differ, so the values, limits and conditions that apply to you appear there in plain English.

King Price reviews the application of decreasing premiums at every renewal, and any change to your risk profile, address, vehicle, security or claims history is taken into account. The Treating clients Fairly framework requires this detail to be communicated clearly before any change takes effect.

Example

Lerato lives in a Sandton apartment with R350 000 of contents. Year 1: R1,200. Year 3: R950 , same cover, lower value. In this scenario, decreasing premiums determines the practical outcome for the client. The exact numbers depend on the cover option, the excess on the schedule and the limits set out in the policy document.

Why decreasing premiums matters

Understanding decreasing premiums helps King Price clients make better decisions about cover. It affects the monthly premium, the payout at claim stage, and the steps required before and after an incident. Getting it right means no surprises at claim time.

King Price aims to make insurance great again with plain-English wording, transparent premiums and a direct relationship with clients. Clear terminology like decreasing premiums is part of that promise.