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Ah, the sweet temptation of saving some money by cutting back on your insurance. It’s like having a fast meal instead of a nutritious dinner… It seems good at the moment, but boy, does it come back to haunt you. Before we dance down the slippery slope of underinsurance, let’s talk about why it’s a truly terrible tango.
Underinsured Home Insurance: A Tale of Two Sofas
Have you ever heard of King Price’s handy inventory form? Well you should! Picture this: You insure the contents of your living room for the price of a single pouf when in reality you have a leather sectional piece worth its weight in gold. Now, when disaster strikes and your claim comes through, you might as well get paid in beans.
Let’s say the value of your home treasures is R100,000, but you only have cover for R50,000. Guess what? If you only insure 50% of your assets, you will only receive compensation for 50% of your loss. That means you will receive a whopping R25,000 when disaster strikes. Let’s face it: that won’t even cover your emotional distress, much less your losses. Therefore, it is always better to be overinsured than underinsured.
Reduced Coverage on Open Roads: Approaching Disaster
Ah, the car… The ultimate symbol of freedom and the most frequent victim of reduced coverage. Yes, you can lower your premiums by opting for a third-party only plan, but what happens when your car gets into a fight with a tree and the tree wins? You are on the hook to foot the bill for your car’s “facelift.”
And let’s talk about extras, like hail coverage, car rental and real taxi. Do you think they are not necessary? Tell that to someone whose car has endured the fury of a Highveld storm. These are not luxuries; They are your future peace of mind on wheels.
Play it safe with King Price
Are you worried you may be treading the thin ice of underinsurance? Don’t worry, because King Price is here to rescue you from your budget balancing mistakes. With a variety of coverage options that give you what you really need, you’re not just purchasing insurance. You are investing in a safety net woven with threads of wisdom.
Send an email to [email protected] If you are already a customer and are feeling a little unsure about whether you are underinsured. If you haven’t joined the kingdom yet, get a no-obligation quote today by simply clicking here or send us a WhatsApp on 0860 50 50 50 and ensure your happiness forever.
Don’t risk your financial future by skimping on insurance. Take the time to do it right. With King Price, you can rest easy without having to spend a lot of money… That’s what we call a standing ovation!
Psst… This blog provides general information only and does not count as financial or product advice from King Price or our legal and compliance experts. Remember, all our premiums depend on risk profile and T&Cs apply. Our most up-to-date KPPD (policy drafting) can always be found here.
The T&Cs of our website can be found here.
Summary
Article name
Why being underinsured is no laughing matter
Description
Do you think skimping on your insurance to save a few dollars is a good idea? Think again! Discover the dangers of being underinsured and how to avoid financial failure with King Price.
Author
The king
Publisher name
king price insurance
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#underinsured #laughing #matter