Insurer raising the price of my PPI without notice

jgallcash

Could anybody please clarify how much notice a company is obliged to give me to raise the price of my payment protection insurance?

The company did inform me January 2010 that payments would increase from £21 per month to £24 per month, fair enough.

After 9 months they then increased the cost again from £24 to £29 per months only this time they did not give me any notice of doing so. After another 3 months of paying £29 they are now charging me £29.50 per month again I have received no notice.

This has all come to light as I have audited my direct debits for the last 18 months.

I understand that PPI will increase due to the economic climate but I do expect to receive notice of them before they do so.

Am I being unreasonable? Is there any guidelines set that dictate how much notice customers should receive before an increase to their premiums?

kingstreet

I don't know about the mid-year change, but insurance premium tax increased in January 2011 which would account for the last change. Weren't you notified of that?

Does the insurer have your correct postal address?

You should check the terms and conditions of your plan to see what the procedure is for changing premiums.

Several insurers were told to cancel increases and refund money to policyholders last year, IIRC.

http://www.moneysavingexpert.com/news/mortgages/2009/10/60m-refund-for-mortgage-protection-hike-victims

jgallcash

Yes the insurer definitely has the correct address as we received notification of the initial change via post

dunstonh

Is there any guidelines set that dictate how much notice customers should receive before an increase to their premiums?

They didnt increase the premium on the last one. The increase is in IPT.

Ask them for a copy of the letters. They should have them on file to generate a copy to you.