I am thinking of claiming a reclaim on PPI, but I still pay per month

PaulPR

Hi

I have not made a claim yet and after reading this board I am thinking seriously about claiming. I am not sure if this is a problem: I still pay my monthly premium.


Should I notify the provider that I intend to cancel and make them aware I will be making a claim? Or should I cancel first then leave it a few months

Thanks

PaulPR

Nearlyold

What sort of PPI is it and what is it covering?eg Credit Card, Loan, Car Finance Mortgage etc?
What are your complaint reasons? ie why do you believe the policy was unsuitable for you when you were sold it?

NB If you tell the insurer you want to make a claim when you mean complaint this may cause some confusion leading them to think you want to make an ill health or redundancy claim.

Bogalot

What is your reason for complaint, is there something wrong with the product you have continued to pay for?

PaulPR

It is Mortgage Protection of which I believe I have wasted £46.00? month for many years, but always hoped that if I did need to claim it would be useful, but the more I read I believe it to have been a possible waste. I do not though want to commence a claim if I should first cancel.

Bogalot

PaulPR wrote: »

It is Mortgage Protection of which I believe I have wasted £46.00? month for many years, but always hoped that if I did need to claim it would be useful, but the more I read I believe it to have been a possible waste. I do not though want to commence a claim if I should first cancel.

That is not a valid reason for complaint. Why do you believe it was a waste, would you not be covered in case of a claim?

You need to understand that you are not making a claim - that is what you would make if you, for instance, lost your job.

PaulPR

I understand where you are coming from, but my main concern is that I have never had to make a claim and probably won`t so I was sold something I should not really had. If I did put in a claim for compensation for PPI would it be viewed differently if it is still a current policy than a closed policy? I do not want to waste my time if it will go no further?

Nearlyold

PaulPR wrote: »

It is Mortgage Protection of which I believe I have wasted £46.00? month for many years, but always hoped that if I did need to claim it would be useful, but the more I read I believe it to have been a possible waste. I do not though want to commence a claim if I should first cancel.

Mortgage Protection is a general term for insurance associated with a mortgage and can be Life Cover, Critical Illness Cover, Income protection, or PPI or any combination of these. What cover does your policy provide? What have you read that makes you believe it has been money wasted? Whether you cancel or not won't make much difference to your complaint outcome though obviously if you cancel you won't have the cover anymore. When you put in your complaint what is it you are saying is wrong with the policy. Don't forget, you need to complain to whoever sold you the policy not the insurer.

Nearlyold

PaulPR wrote: »

I understand where you are coming from, but my main concern is that I have never had to make a claim and probably won`t so I was sold something I should not really had. If I did put in a claim for compensation for PPI would it be viewed differently if it is still a current policy than a closed policy? I do not want to waste my time if it will go no further?

Not having to claim on a policy does not make it missold.

[Deleted User]

PaulPR wrote: »

I am thinking of claiming a reclaim

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dunstonh

It is Mortgage Protection of which I believe I have wasted £46.00? month for many years, but always hoped that if I did need to claim it would be useful, but the more I read I believe it to have been a possible waste.

I hope all the insurances I pay will be useful if needed but I hope I end up never having to call upon them. That does not mean they are a waste.

I understand where you are coming from, but my main concern is that I have never had to make a claim and probably won`t so I was sold something I should not really had.

Are you immune from illness, death, redundancy etc?
What does your policy cover you for because the term "mortgage protection" could mean anything. Including many plans that are not PPI.

If I did put in a claim for compensation for PPI would it be viewed differently if it is still a current policy than a closed policy?

You dont put a claim in for compensation. You put a complaint in about mis-sale. You give your reasons for complaint. It makes no difference if the policy is running or not.

However, before you do anything, you need to understand what you have and what your complaint reasons are. You havent managed to tell us anything suggesting a reason for complaint and you dont even appear to know if it is PPI.

Nasqueron

If I don't crash my car, it doesn't mean I can have my insurance premiums back - be thankful for your good employment and good health, insurance is there to cover you in the worst case