CPP question

Mumfie

I have had CPP insurance for over 10 years now.

Today I received my renewal letter in the post. After all the recent media coverage regarding customers being entitled to getting all their money back from 2005 onwards, I was wondering if anyone can advise me on what I should do about my renewal, which is due in October.

Thanks in advance.

BC_KT

It's up to you if you want to keep the insurance or not. Is it Card Protection Insurance or Identity Protection you have with CPP?

Mumfie

It is a card protection policy. Does that make a difference?

I just wondered if it is worth renewing, because if i am eventually entitled to a refund I wouldn't remain a customer in the future.

What do I do?

roonaldo

it wont affect any future refund. its a crappy prodct, if you dont want it then cancel it.

BC_KT

Card protection is the one that was deemed to provide duplicate cover, so you can disregard the fraud/loss protection aspect of it. The question is whether or not you'll benefit from the limited travel coverage it offers (i.e. lost bags/mobile/keys cover) and if you think it's worth the cost. Cancelling it now won't affect any future redress, though would certainly save you having to pay another premium.

Sprimbly

I have read all that MSE says on the CPP saga. I believe that I fall into the category where the template letter to bank would be the way to go. Took out a CPP policy for card protection, in April 2003 and cancelled it over the phone just in time to stop the direct debit in 2012. I have a list of all the escalating renewal payments I made in between. I recall that I was seduced into this cover by leaflet enclosed to me by the bank which supplied the new credit card which I was taking out at that time. I still use that same credit card supplier. However, the direct debit renewal payments were paid via my current account with a different bank. To which bank should I send my version of the template letter? My instinct is to address it to the credit card supplying bank, with copy to my innocent current account bank.