Paymaster Mortge Prot Insurance

owned_by_2_Siamese

Have had Unemployment Accident and sickness cover with Paymaster (through Brit Insurance) since July. DD has increase from £58 to £108 with no correspondence. Phone today and was told letter had been sent (!) but in essence they have 'reviewed their premium' and increased it and are now making an administration charge each month too. I asked where the polict permitted an admin charge - they couldnt tell me but said my internet policy was at ' a cost substantially less' than non onternet customers and the revised premuims reflected this - plus they were reviewing all customers.
Seems to me they are having a laugh - I cancelled a HSBC policy that cost £80 a month to go with these sharks and now after 6 months they just double the premium!!! and nearly every internet site directs you to Brit Insurance who plavce the business with these people. Anyone else experienced this?

dunstonh

Anyone else experienced this?

Yes. Virtually all the PPI/MPPI or standalone Unemployment plans are increasing their premiums at the moment and will continue to so over the next 6 months or so.

Premiums cannot be sustained at low unemployment, good economy levels and are increasing due to increased risks. We are still much lower than the 90s recesssion levels for premiums though.