Amid belt-tightening among consumers and a biting economy, insurers are coming up with innovative products that are far removed from the “package deal” short-term insurance of the past. King Price spokesperson Wynand van Vuuren says packaged policies, typically offered by insurers, are not necessarily in the interest of consumers. Consumers should be able to structure their insurance according to the risks they face, he says. As part of its focus on offering tailored risk cover, King Price has launched car warranty cover that pays for failed car-part repairs or replacements, as well as labour, regardless of where the car is insured, and even if it isn’t. Provisos are that the car must have a fully up-to-date service history and have less than 200,000km on the clock. “If you’re driving a car that’s out of warranty, your car parts are steadily deteriorating. The big motive behind our new car warranty cover is to help you avoid unexpected costs when any of your car parts — including ge...

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