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Frequently asked questions
Cancel King Price: Your Complete Guide
How to cancel your King Price insurance policy in australia: your complete guide
Why you might cancel your King Price policy
King Price is a privately owned short-term insurer operating primarily through digital channels and a mobile app, specialising in motor, home, portable possessions and business insurance. The company is known for its decreasing-premium model, which rewards claims-free customers with reduced car insurance premiums over time. You pay monthly premiums with annual policy renewals and manage your cover through a self-service platform.
You may decide to cancel your King Price policy for legitimate reasons: you've found cheaper cover elsewhere, your circumstances have changed, you're relocating, or you're dissatisfied with the service or claims handling. Understanding the cancellation process, your refund entitlements, and your consumer rights under Australian law will help you navigate this decision with confidence. Yafee is here to walk you through every step.
Understanding King price's policy structure
King Price policies operate on monthly premiums with automatic annual renewals. This means your policy will renew each year unless you actively cancel. If you cancel mid-policy, you're entitled to a proportionate refund for unused cover, though King Price may deduct certain administrative costs from that refund. The amount you receive depends on your policy terms and whether any valid claims exist during the period you're cancelling.
Common reasons australian customers cancel King Price
Based on reported customer experiences, Australian consumers cancel King Price policies for several reasons: delays in processing cancellation requests, continued debit orders after requesting cancellation, disputes over refund calculations, and frustration with automated customer service. Others switch to competitors offering lower premiums or consolidate their policies with a different insurer. Understanding these common friction points will help you prepare for potential obstacles in your own cancellation journey.
Your consumer rights under australian law
Australian Consumer Law protects you when cancelling insurance policies, and these rights form your legal foundation for resolving disputes with King Price.
The australian consumer law and insurance cancellation
Under the Australian Consumer Law, King Price must provide you with clear information about your policy terms, including how to cancel and what refunds you're entitled to. The insurer must not engage in misleading or deceptive conduct, and they must act honestly and fairly when processing your cancellation and any refund claim. If King Price continues to debit your account after you've cancelled, or if they refuse a legitimate refund, you have legal grounds to escalate your complaint through the formal dispute resolution process.
The cooling-off period is particularly important: if you're cancelling a new policy within 14 days of receiving your policy documents, you're entitled to a full refund provided no claims have been made during that period. This is a statutory right, and King Price cannot remove it from the policy terms or charge you for exercising it.
Your legal position
You have the right to cancel your King Price policy at any time by providing written notice. King Price must process your cancellation within a reasonable timeframe (typically 5 to 10 business days) and provide you with a cancellation confirmation. You're entitled to a proportionate refund for any unused portion of your premium, less reasonable administrative costs. If King Price refuses to cancel your policy or disputes your refund entitlement without valid justification, you can lodge a complaint with the Australian Financial Complaints Authority (AFCA), the independent ombudsman for financial services in Australia.
How to cancel your King Price policy step by step
Follow this structured process to cancel your King Price insurance with minimal friction and maximum protection of your rights.
Gather your policy documents and information
Before you initiate cancellation, collect the following information: your King Price policy number, your full name and contact details, the date you want the cancellation to take effect, and details of any outstanding claims. Keep copies of your most recent policy schedule, any correspondence from King Price, and a record of your premium payments. This documentation protects you if King Price disputes your refund entitlement or claims they never received your cancellation request. Yafee recommends storing digital copies of everything before you proceed.
Prepare your written cancellation notice
Write a clear, dated letter or email addressed to King Price's Client Care team. Your notice must include the following:
- Your full name and address
- Your King Price policy number
- The date you want your policy to end (for example, "31 December 2024")
- A clear statement: "I hereby cancel my King Price insurance policy effective [date]"
- Your preferred contact method for confirmation (email or phone number)
- A request for written confirmation of the cancellation and the refund amount within 5 business days
Keep your language simple and direct. Avoid emotional language or lengthy explanations of why you're cancelling, as these can complicate the administrative process. The clearer your notice, the faster King Price will process it.
Submit your cancellation notice to King Price
You have two primary methods to submit your cancellation:
- Email your cancellation notice to King Price's Client Care team at the email address listed on your policy documents or their website. Send the email from the email address associated with your policy account. Request a read receipt or delivery confirmation so you have proof of submission. Yafee recommends this method because it creates an immediate digital record.
- Send your cancellation notice by registered mail or a tracked postal service to King Price's registered office address. Write "CANCELLATION NOTICE" on the envelope in bold letters. Keep the tracking number and proof of delivery for your records.
Do not rely on phone calls alone to cancel your policy. While you can call King Price to discuss cancellation, always follow up with a written notice to ensure the cancellation request is documented and cannot be disputed later.
Follow up within 5 business days
If you have not received written confirmation of your cancellation within 5 business days of submitting your notice, contact King Price directly. Call their customer service line and reference your cancellation email or postal tracking number. Ask the representative to confirm receipt of your notice and provide you with a cancellation reference number. Request an estimated timeline for processing and the amount of any refund you should expect. Document the name of the representative you speak to and the time and date of the call.
Monitor your account for confirmation and refund
After you submit your cancellation notice, King Price must send you a written cancellation confirmation within 10 business days. This confirmation should include the effective cancellation date, the refund amount (if applicable), and the timeline for processing that refund. Any refund should be deposited into your nominated bank account within 14 business days of the cancellation becoming effective. Check your bank account regularly during this period. If you don't receive the refund within 14 days, contact King Price immediately and escalate if necessary.
Cancel any linked direct debits or automatic payments
While King Price should cancel your policy and stop charging you, you should also take direct action to cancel any direct debit or automatic payment arrangement with your bank. Log into your online banking portal, go to your direct debits or recurring payments section, and cancel the King Price payment instruction. This provides a second layer of protection against unexpected charges after your cancellation date. Once the debit is cancelled, King Price cannot charge you further premiums, even if there is a processing error.
Understanding your refund and timeline
Knowing what refund to expect and when you'll receive it prevents confusion and disappointment after you cancel.
How King Price calculates your refund
King Price calculates your refund on a pro-rata basis: they divide your annual premium by 365 days, then multiply by the number of days of unused cover remaining in your policy period. They then deduct any reasonable administrative costs (typically between AUD $25 and AUD $50, depending on your policy type). If you've made a claim during the period you're cancelling, King Price may reduce your refund to account for the claims-free premium discount you no longer qualify for. Furthermore, if any claims remain outstanding (not yet settled), King Price may withhold the refund until those claims are resolved.
For example, if you pay AUD $1,200 annually and cancel after 6 months with no claims, you'd be entitled to approximately AUD $600, less administrative costs (say, AUD $35), resulting in a refund of around AUD $565. King Price must provide you with this calculation in writing when they confirm your cancellation.
Refund processing timeline
| Stage | Timeframe | What happens |
|---|---|---|
| Submission to receipt | 1-2 business days | King Price receives and logs your cancellation notice |
| Processing and confirmation | 5-10 business days | King Price confirms cancellation in writing and provides refund calculation |
| Cancellation effective date | Your specified date (or immediately if not specified) | Your policy ends; no further premiums charged |
| Refund deposit to your bank account | 10-14 business days after cancellation date | King Price transfers refund to your nominated account |
| Total process | 20-30 business days | From submission to refund in your account |
If King Price does not deposit your refund within 14 business days of your cancellation becoming effective, contact them immediately in writing. Reference your cancellation confirmation number and ask for an urgent investigation. If they cannot provide a refund within a further 5 business days, escalate your complaint to AFCA.
King Price pricing and refund comparison table
The following table shows typical King Price premium ranges and estimated refunds based on cancellation timing. These figures are illustrative and will vary based on your specific policy, location, and claims history.
| Policy type | Typical annual premium (AUD) | Refund if cancelled after 3 months | Refund if cancelled after 6 months | Refund if cancelled after 9 months |
|---|---|---|---|---|
| Car insurance (basic) | $840 - $1,200 | ~$580 - $810 | ~$380 - $540 | ~$180 - $270 |
| Home insurance | $600 - $900 | ~$420 - $630 | ~$270 - $405 | ~$120 - $180 |
| Portable possessions | $200 - $400 | ~$140 - $280 | ~$90 - $180 | ~$40 - $80 |
| Business insurance | $1,500 - $3,000 | ~$1,050 - $2,100 | ~$675 - $1,350 | ~$300 - $600 |
| Combined home and car | $1,200 - $1,800 | ~$840 - $1,260 | ~$540 - $810 | ~$240 - $360 |
These amounts assume no claims and include an estimated administrative deduction of AUD $25-$50. If you've made a claims-free cancellation within 14 days of receiving your policy documents, you may be entitled to a full refund regardless of timing.
What to do after your cancellation is confirmed
Cancellation doesn't end when you receive confirmation; there are important steps to complete your exit cleanly.
Verify the cancellation with your records
Once King Price confirms your cancellation in writing, save that confirmation email or letter permanently. Create a folder on your computer or cloud storage containing your original policy, cancellation notice, cancellation confirmation, and any refund correspondence. This documentation protects you if any dispute arises in the future, particularly if King Price attempts to charge you after the cancellation date or if there's a discrepancy between the promised and actual refund amount.
Arrange alternative insurance before your policy ends
Depending on your policy type, you may be required by law to maintain continuous insurance (for example, car insurance is compulsory in all Australian states and territories). Before your King Price policy ends, apply for and activate a new policy with another insurer. Request that your new policy's start date aligns exactly with your King Price cancellation date to avoid any gap in cover. Yafee recommends completing this step at least 5 business days before your King Price policy ends.
Update your records with other organisations
If your King Price policy was linked to a mortgage lender, employer, or vehicle registration, notify those organisations of your cancellation and provide them with details of your new insurer. Your mortgage lender, in particular, must be notified of any changes to your home insurance within a specified timeframe (typically 30 days). Failure to maintain required insurance can breach the terms of your loan agreement.
Monitor your bank statements
For at least two billing cycles after your cancellation, review your bank statements to confirm that King Price has not charged you further premiums. If you notice any unexpected debit from King Price after your cancellation date, contact your bank immediately and request a reversal while you investigate with King Price.
Common mistakes to avoid during cancellation
Cancellation is straightforward when you follow the right process, but several common missteps can delay your exit or cost you money.
Relying on phone calls without written confirmation
The most common mistake is cancelling your policy over the phone without sending a written notice. While King Price representatives may promise to cancel your policy, there is no permanent record of this agreement. If King Price subsequently claims they never received the cancellation request, or if a billing system error causes another premium to be charged, you have no proof of your cancellation intent. Always send written notice, even if you've already spoken to King Price by phone. Yafee recommends email with read receipt as the fastest method.
Not checking the cooling-off period before cancelling
If you've purchased a new King Price policy within the last 14 days, you have the statutory right to cancel and receive a full refund (provided no claims have been made). Many customers don't realise this and accept a reduced pro-rata refund when they're entitled to the full premium back. Check the date you received your policy documents; if it's within 14 days, explicitly mention the cooling-off period in your cancellation notice to ensure you receive the full refund.
Failing to cancel direct debits with your bank
Some customers cancel their King Price policy but forget to cancel the linked direct debit with their bank. If a billing system error occurs on King Price's side, your bank will continue processing the direct debit because the payment instruction is still active. While you can dispute unauthorised charges with your bank, this is time-consuming. Cancel the direct debit immediately after submitting your King Price cancellation notice.
Not documenting all communication
Every phone call, email, or letter you send to King Price should be documented. Save the time, date, and name of every representative you speak to. Screenshot or print every email (including read receipts). Keep your original cancellation letter or email. If a dispute arises later, this documentation is essential for proving your case to AFCA. Consequences of poor documentation include difficulty proving you cancelled, disputes over refund amounts, and inability to escalate complaints effectively.
Cancelling without arranging replacement insurance
For compulsory insurance types (car insurance in particular), cancelling King Price without having a replacement policy in place creates a legal gap. You could face fines, penalty points, or vehicle impoundment if you're caught driving without insurance. Arrange your new policy before your King Price cancellation date takes effect. This also prevents you from having to rush into a poor insurance decision.
How to escalate a dispute with King Price to AFCA
If King Price refuses to process your cancellation, disputes your refund entitlement, or continues to charge you after cancellation, escalation through formal dispute resolution is your next step.
Lodge a complaint with King Price first
Before escalating to AFCA, you must first lodge a formal complaint with King Price. Send a written complaint letter (email or registered mail) to their complaints department, clearly stating the issue, the date of your cancellation request, and what remedy you're seeking (cancellation confirmation, refund, or reversal of charges). King Price has 30 calendar days to respond to your complaint. If they reject your complaint or don't respond within 30 days, you can escalate to AFCA.
Gather evidence of the dispute
Collect all relevant documentation: your cancellation notice, proof of submission (read receipt, tracking number, or witness confirmation), King Price's acknowledgement of your cancellation (if provided), your policy documents, bank statements showing unauthorised charges (if applicable), and all correspondence with King Price. Organise this chronologically and create a summary of key dates and events. AFCA will require this evidence to investigate your complaint.
Submit your complaint to AFCA
Once King Price has had 30 days to respond and you're dissatisfied with their response (or they haven't responded), lodge your complaint with AFCA online at www.afca.org.au or by post. AFCA will assign your complaint a case number and notify King Price that you've escalated. AFCA can investigate breaches of Australian Consumer Law, disputes over refund calculations, and failures to process cancellations. The investigation is free, and AFCA can award compensation up to AUD $750,000 (for complaints involving a financial loss of that amount). Furthermore, AFCA's decisions are binding on King Price, meaning they must comply with any compensation order AFCA issues.
Your legal position if escalation is necessary
If you escalate to AFCA, you are protected by the Financial Accountability Regime. King Price cannot penalise you for lodging a complaint, and they cannot refuse to deal with you because of the complaint. AFCA operates independently and has the power to compel King Price to provide documents, investigate their conduct, and award compensation if they find King Price has breached the law. If King Price refuses to comply with an AFCA decision, you can pursue enforcement through the courts. In practice, however, King Price complies with the vast majority of AFCA decisions without further legal action required.
Cancellation contact details and address
Use the following contact information to submit your cancellation notice to King Price:
Email: Submit your cancellation notice to King Price's Client Care team via email. Check your policy documents or the King Price website for the current Client Care email address, as this may change.
Postal address: Address your cancellation letter to King Price's registered office. King Price's registered address is typically listed on your policy schedule. Send via registered mail or a tracked postal service and retain proof of delivery.
Phone: Call King Price's customer service line (number on your policy or website) to discuss your cancellation, but always follow up with written notice. Do not cancel by phone alone.
Australian Financial Complaints Authority (AFCA): If you need to escalate a dispute, lodge your complaint at www.afca.org.au or contact AFCA by post at GPO Box 3, Melbourne VIC 3001. AFCA's phone number is 1800 931 678 (free call within Australia). You can also lodge a complaint online without needing to send physical documents first.
Final checklist before you cancel
Use this checklist to ensure you're ready to cancel your King Price policy smoothly:
- Locate your King Price policy number and current policy schedule
- Identify the effective cancellation date you want (for example, end of current month or a specific date within the next 30 days)
- Check whether you're within the 14-day cooling-off period (if so, you're entitled to a full refund)
- Research and apply for replacement insurance if required (particularly for car insurance)
- Ensure your replacement policy start date covers any gap with your King Price cancellation
- Draft your cancellation notice with all required information: your name, policy number, cancellation date, and contact details
- Send your cancellation notice via email (with read receipt) or registered mail
- Keep copies of your cancellation notice and proof of submission
- Cancel any linked direct debit with your bank
- Wait 5-10 business days for King Price's confirmation
- Follow up by phone if you don't receive confirmation within 10 business days
- Monitor your bank account for the refund within 14 days of the cancellation date
- Check your bank statements for at least two billing cycles after cancellation to confirm no further charges
- Save all cancellation correspondence permanently
Summary and next steps
Cancelling your King Price insurance policy is a straightforward legal process when you follow the correct procedure. Your rights under Australian Consumer Law protect you from misleading conduct, entitle you to a proportionate refund, and give you access to free dispute resolution through AFCA if King Price refuses to cooperate. Submit a clear written cancellation notice, follow up within 5-10 business days, monitor your refund, and cancel your direct debit with your bank to prevent unexpected charges.
Yafee has helped thousands of consumers cancel insurance policies successfully by providing step-by-step guidance grounded in consumer law and real-world experience. If you encounter difficulties with King Price, remember that AFCA is available at no cost to investigate breaches and award compensation. Document every communication, keep copies of all correspondence, and don't hesitate to escalate if King Price refuses to process your cancellation or disputes your refund without valid justification. Your right to cancel and receive a fair refund is protected by law, and Yafee is here to ensure you exercise those rights with confidence.