Can you believe it was only 3 years ago that King Price opened its doors? Back in 2012, the same year The Avengers assembled on the big screen, a bold idea was born: give South Africans car insurance premiums that actually go down instead of climbing year after year. Nobody had done it quite like that before, and plenty of people thought it couldn’t be done. Turns out, it could.
Key takeaways
- King Price was founded in 2012 on the principle that insurance premiums should decrease as your car loses value.
- The company grew from a startup to a recognised South African insurer in just three years.
- Every milestone along the way was made possible by clients who believed in a fairer way to insure.
- The king's journey is as much about people, both clients and employees, as it is about products.
- King Price's growth story is still being written, and you can be part of it.
How it all started: the idea that changed South African insurance
South African drivers had been paying the same (or higher) premiums year after year, even as their cars got older and less valuable. The logic never added up. Why should you pay more to insure a car that’s worth less? King Price was founded to fix exactly that.
- Decreasing premium
- A car insurance premium that reduces each month in line with the depreciating market value of your vehicle, so you never overpay for cover relative to what your car is actually worth.
The model was simple: as your car depreciates, your premium decreases. Clients loved it. Word spread. The kingdom started to grow.
King Price Insurance was founded in 2012 and introduced a decreasing car insurance premium model to the South African market.
Three years of milestones worth celebrating
Three years in, the king had plenty to celebrate. Here are some of the most memorable moments from the King Price journey:
Every single milestone on that infographic traces back to two groups of people: the clients who trusted us with their insurance, and the employees who showed up every day to make the kingdom work. From the bottom of our collective hearts, thank you.
What makes King Price different from other South African insurers
Plenty of insurers promise great value. King Price built its entire model around it. Here’s how the king’s approach stacks up against the traditional insurance way of doing things:
| Feature | Traditional insurer | King Price |
|---|---|---|
| Premium direction | Increases at renewal | Decreases monthly as your car depreciates |
| Pricing philosophy | One-size-fits-all | Priced to reflect your car's actual value |
| Client focus | Policy-first | People-first |
| Transparency | Complex policy documents | Plain language, no surprises |
How to get a King Price car insurance quote in under 3 minutes
If you’re not saving yet, here’s how easy it is to join the kingdom:
How to get a King Price car insurance quote
Follow these steps to get a car insurance price from King Price in under three minutes.
- Tools:
- Smartphone or computer
- Your car's registration number
- Your South African ID number
Go to the quote tool
Visit https://insurance.kingprice.co.za and select car insurance.
Enter your vehicle details
Fill in your car's make, model, year, and registration number.
Tell us about yourself
Enter your personal details, including your ID number and driving history.
Choose your cover
Pick the level of cover that suits your needs and budget, from third party to comprehensive.
Review your price
Check your monthly premium, read the policy summary, and confirm your cover to join the kingdom.
The people behind the kingdom
No king rules alone. King Price’s growth has always been a team effort. From the brokers who introduced clients to the brand, to the call centre agents who answer questions at all hours, to the claims teams who show up when things go wrong, the kingdom is built on people.
We built King Price on a simple belief: South Africans deserve insurance premiums that make sense. As your car gets older and worth less, you should pay less. That's not radical, it's just fair.
King Price's growth from 2012 to 2015 was driven by client referrals and broker partnerships across South Africa.
What South Africans think about the King Price model
The reception to a decreasing premium model wasn’t just positive, it was enthusiastic. South Africans had been waiting for an insurer willing to share the benefit of depreciation with them, rather than pocket it. The response confirmed what the founders believed from day one: the market was ready.
South African car insurance market sentiment, 2012-2015
South African consumers responded strongly to the decreasing premium model introduced by King Price, with rapid client acquisition in the first three years of operation driven largely by word-of-mouth referrals.
South African consumers responded strongly to the decreasing premium model, with rapid client acquisition in the first three years driven largely by word-of-mouth referrals.
The king’s journey continues
Three years is just the beginning. The kingdom is still growing, the premiums are still decreasing, and the mission hasn’t changed: give every South African access to insurance that’s honest, affordable, and actually makes sense.
If you’re not part of the kingdom yet, now’s a great time to join. Get your car insurance quote today and see how much the king can save you.
Key takeaway: King Price was founded in 2012 on a single, simple idea: insurance premiums that go down as your car does. Three years and thousands of loyal clients later, the proof is in the kingdom itself.
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Frequently asked questions
King Price Insurance was founded in 2012 in South Africa. The company launched with a unique decreasing premium model for car insurance, meaning your monthly premium goes down as your car depreciates in value.
King Price calculates your car insurance premium based on the current market value of your vehicle. As your car gets older and worth less, your monthly premium decreases automatically, so you never overpay for cover relative to what your car is actually worth.
Yes. King Price Insurance is a licensed short-term insurer and authorised financial services provider (FSP 43862), regulated by the Financial Sector Conduct Authority (FSCA) in South Africa.
King Price offers car insurance, home contents insurance, building insurance, and a range of other personal insurance products for South African clients. Cover options include third party only, third party fire and theft, and comprehensive car insurance.
You can get a King Price insurance quote online at https://insurance.kingprice.co.za. The process takes under three minutes: enter your vehicle details, tell us about yourself, choose your cover level, and review your price.
King Price’s founders believed it was unfair for South Africans to pay the same or higher premiums as their cars got older and less valuable. The decreasing premium model was designed to pass the benefit of depreciation on to clients rather than keeping it as insurer profit.
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