MPPI with Paymentshield - Premiums increase

Vancat

dunstonh wrote: »

Paymentshield wont withdraw from the market. They are long established and have a good reputation. I would be more worried about some of the smaller, newer providers though.

Thanks for that reassurance.....was begining to worry that they may jump ship while I'm in a claim period!!!
VC

payless

well thats something they can't do, even if they cancel existing policies ( no suggestion they will ) .. any existing validclaim have to be covered for rest of benefit perid

Wutang_2

payless wrote: »

I think you are right ... but I would never say never!

I think you just did

tootsiegb

I too have PPI with paymentshield and received a letter yesterday. Was livid only took the policy out in Nov last year as it was cheaper. It started as 21.60 and now it is 37. I only changed to save money & now i will be paying more than if i had stopped where i was!!
Am looking for a new deal

payless

It started as 21.60 and now it is 37. I only changed to save money & now i will be paying more than if i had stopped where i was!!
Am looking for a new deal

but maybe your old company will also be increasing ?

jonnylinacre

Are Paymentshield still the cheapest does anyone know?

I too have had the dreaded letter having only been with them since August last year, not too keen on moving but am interested to know what is on offer seeing that I originally moved from my banks insurance of £40 a month down to £13 a month now up to £26 + £3 to come......

dunstonh

Are Paymentshield still the cheapest does anyone know?

Dont think they ever have been. You dont use paymentshield to be cheapest. You use them because you know their claims and administration are not going to leave you in the lurch when you need the policy the most or that you need more options than a cheap policy is going to offer.

burnsguitarman

We have always been happy with the service from Paymentshield, my oh was out of work for 6 months in the past and we had no trouble with the claim process, but try phoning Paymentshield to get your mortgage amount and associated amounts changed. It is a nightmare

We did this last week, but they calculated the new premium totally wrong, so another 45mins phoning again to correct their mistake, (and having to tell the staff how it should be calculated), eventually he agreed with us, but was told someone would contact us within a couple of days to confirm the new premium, now my oh is on the phone again, only to be told it was sent to our email, but with our name spelt incorrectly.

I fear that they are so overstretched at the moment they can't cope.

Now we are told that the email will be resent to the correct email, but only next Tuesday (4 days), because there is no one available.

Hope anybody who is trying to claim at the moment gets better service than this!

trixie73

i have just cancelled my policy with paymentshield. it went up 50%. i have took out a new policy with pinnacle ins. its the exact same cover at half the price. altho there is a waiting period.......

payless

just had a look at my wife's policy
Paymentshield was £65pm ( originally 6 months free) , increase to £67 last yr, just increased to £78

Pinnacle want £102 for like for like