Making working hard look effortless
11 September 2020 | People
When I walk into the King Price Insurance office every morning, I grab myself a coffee, sometimes a popcorn and then start grafting. I’m most productive when I throw myself into my workload as early as possible. Yet in between everything, I also I try to make people laugh and forget about their stress.
As they say, the only way to do great work is to love the work you do. I value the ability to help fellow Namibians to save some 'moolah' and to make sure that in the event of a loss, accident or an unforeseen misfortune, they are insured correctly.
I find it very rewarding to transfer insurance knowledge and skills to my colleagues and clients. Teach a man to fish, and you've fed him for a lifetime.
That’s why I’ve compiled some insurance tips to ensure your insurance policies remain updated, relevant and applicable.
1. Revise your policy frequently.
Let’s be honest: No one likes to go through insurance documents, but unfortunately someone must. So, choose the person who understands the ins and outs of your personal and business needs. Which is probably you. But luckily our policy wording is in layman’s terms so that anyone can understand it.
Unfortunately, the moment you buy something, it changes in value and mostly loses value over time. So, keep updating your policy frequently to ensure you’re paying for the correct value. You can be overpaying or underpaying if your policy is not up to date.
At King Price, our car insurance premiums automatically decrease monthly, exactly because your car loses value every month. Why pay more for something that is worth less?
2. Choose the excess that suits you.
Okay, so enough with the Greek, let’s cut to the chase. The “excess” is the amount you agree to contribute when there’s a claim. Some insurers work it out on a percentage basis, for example, 10% of the claim. In our kingdom we have a flat excess structure, to make things less hazy and more plannable.
The higher excess you choose, the lower your monthly premium and vice versa. Yet the most important thing is to choose an excess amount that you are comfortable paying from a cash-flow perspective when there is a claim.
3. Declare war on high premiums.
Don’t EVER simply accept your premium the way it is. Join our kingdom and fight the war against unnecessarily high premiums. In just 10 minutes you can start saving today.
*Ian de Waal is the chief operating officer of King Price Insurance