When you’re standing at that crossroad of choosing car insurance in South Africa, the name King Price often pops up alongside MiWay. Both are big players in the local market, both claim to be “affordable,” and both throw in perks that are meant to sweeten the deal. But as every driver knows, insurance is less about the glossy ads and more about what happens the day you’re stuck on the side of the N1 with a dented bumper or a flat tyre.
The real question for budget-conscious drivers isn’t just “Who’s cheaper?” It’s also about value. Because sometimes the cheapest cover comes with trade-offs you only notice when you’re already stressed and phoning the call centre.
I’ve been down this road myself. A few years back, I switched from one of the “big traditional” insurers to King Price, mostly because their decreasing premium model sounded like a dream. Then later, I had a friend who swore by MiWay because of their flexible policy management. Between my own experience and plenty of conversations with fellow motorists, I’ve picked up insights on what really separates the two. Let’s unpack this, story-style.
The Promise of King Price: Decreasing Premiums
If you’ve seen King Price’s ads, you probably know their pitch: your car’s value drops every month, so why should your premium stay the same? That’s their hook, and to be fair, it does make a lot of sense on paper.
When I first signed up, I loved getting that SMS notification telling me my premium had dropped by a few rand. It wasn’t a life-changing amount—maybe R15 or R30 at a time—but it felt like I was getting rewarded for being loyal. Almost like the insurer was on my side for once.
But here’s the flip side nobody tells you upfront: while the monthly decrease is nice, it’s not always massive enough to offset annual premium increases that sneak in. Insurance companies across the board review risk every year, and King Price is no exception. So yes, your premium “decreases” month-to-month, but then it can get bumped back up the following year. It’s a bit like taking two steps forward and one step back.
Budget drivers may still find it appealing—especially those who like the psychological win of seeing the number tick down each month. But if you’re expecting your premium to halve in three years, you’ll probably be disappointed.
MiWay’s Flexibility: Cancel Anytime, Manage Everything Online
MiWay, on the other hand, doesn’t lean on gimmicks like decreasing premiums. Their big play is convenience and flexibility. You can cancel at any time, adjust your cover online, and they’re one of the few insurers that really push the idea of self-service.
A friend of mine switched to MiWay after a messy claims experience elsewhere. She liked that she could change her excess, update her details, or even tweak her cover level through the app. For people who hate spending an hour on hold with call centre agents, that’s a massive win.
That said, the “cancel anytime” policy sounds better than it actually feels in practice. Sure, you can walk away without penalties, but you still have to give notice, and premiums are calculated based on risk at that time. If you cancel right after a claim, your record follows you anyway, so it’s not like you can easily escape the consequences of being high-risk.
MiWay’s drawcard seems best for drivers who value control—those who want to log in at 10 pm, make a quick change, and move on. It appeals to younger drivers especially, people who are used to handling their banking, shopping, and admin entirely online.
Comparing Premiums: Which Is Actually Cheaper?
Here’s where things get tricky. Comparing insurance premiums is like comparing cell phone contracts: what you pay depends on your risk profile, your car, where you park it, and whether your cousin borrowed it last month and crashed it into a pole.
That said, from what I’ve seen—and from feedback in online forums—King Price often edges out MiWay for base affordability, especially for older cars. Their model seems to reward drivers who own vehicles that are steadily depreciating.
MiWay, though, sometimes comes out cheaper for newer cars or for people with good credit and a spotless driving record. Their risk algorithms seem to weigh these factors heavily. So for budget drivers, the answer is frustratingly: it depends.
One thing worth mentioning is the excess. King Price tends to keep excesses fairly standard, while MiWay allows you to play around with it. You can hike up your excess to drop your monthly premium, which might work for someone who doesn’t mind taking on more risk in exchange for immediate savings. But that could backfire the day you need to fork out R10,000 after a fender-bender.
The Claims Experience: Where the Rubber Meets the Road
All the marketing in the world won’t save an insurer if they fail you during a claim. And here’s where opinions on both King Price and MiWay get, well, messy.
When I had a minor accident under King Price, the process was fairly smooth. They directed me to a partnered panel beater, and within two weeks my car was fixed. I wasn’t wowed, but I also wasn’t tearing my hair out. For me, that counted as a win.
But I’ve heard stories from others that weren’t as rosy. Some complained of delays, others of communication gaps. To be fair, this isn’t unique to King Price; insurance claims are rarely painless.
MiWay, on the other hand, has a reputation for being strict. Some drivers appreciate that—they feel like MiWay is serious about protecting the pool from fraud. Others find it frustrating when the process feels like pulling teeth. A colleague of mine waited nearly six weeks for her payout after her car was written off. She said the back-and-forth about paperwork nearly drove her mad.
So, if claims service is the ultimate tie-breaker, it may come down to how much patience you have, and whether you prefer a more lenient or more rigorous approach.
Perks and Add-Ons
Both insurers know that South Africans love extras. King Price offers the option of add-ons like car hire, home contents, and even cover for things like bicycles. MiWay throws in extras too, such as roadside assistance and hail damage cover.
What I find interesting is how they market these. King Price almost leans into humour with their branding, making insurance feel less intimidating. MiWay takes a more professional tone, highlighting empowerment and customer control. Depending on your personality, you might find one approach more relatable than the other.
But again, for budget drivers, the key is whether these extras are worth it. If you’re already stretching your budget to afford comprehensive cover, adding bells and whistles may not be the smartest move.
So, Which One Should You Choose?
If you’re a budget driver in South Africa weighing King Price versus MiWay, the “better” choice depends on your priorities:
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Choose King Price if: you like the psychological perk of decreasing premiums, you’re insuring an older car, and you don’t mind a fairly straightforward, no-frills approach.
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Choose MiWay if: you prefer control, you want the freedom to tweak or cancel your policy easily, and you’re comfortable managing most things online.
From my own perspective, I’d say King Price feels like the better bet if you’re really counting every rand and want that sense of getting “something back” month after month. MiWay, though, has its place for tech-savvy drivers who want independence and flexibility, even if that sometimes means stricter claims handling.
A Final Thought
At the end of the day, car insurance isn’t just about numbers on a debit order. It’s about peace of mind. Both King Price and MiWay offer routes to that, but in slightly different ways.
The best move? Don’t just take the first quote that lands in your inbox. Compare, ask questions, even phone around if you have the patience. Sometimes the real difference isn’t the advertised feature but how an insurer treats you the day you need them most.
For budget drivers, that balance between affordability and reliability is the holy grail. And whether you find it with King Price or MiWay, the key is making sure the cover actually works for your life—not just your wallet.