PPI Claims: What You Should Know
The number of PPI claims in the UK is rising after a growing number of unnecessary insurance policies have come to light. In recent years, banks have sold inappropriate PPI policies to customers alongside loans, mortgages and credit cards. If you think you could potentially pursue a PPI claim, it is important to understand the best way to recover compensation. To find out more, read our guide on how to establish if you can make a PPI claim and what you should do next.
Could You Make a PPI Claim?
In order to make a claim, your PPI must have been issued within the past six years. To prove this, it is important to recover any documentation about your the PPI you were sold alongside your credit card, loan or mortgage. Once you have your paperwork, you can establish the strength of your claim based on the following questions:
Were you fully covered by your Payment Protection Insurance?
It may sound simple, but it is important to establish whether your PPI covered you from the outset. For example, was the claims process followed correctly? You should have been asked a range of detailed questions to ensure your PPI suited your circumstances. It is a lender’s responsibility to check that you have an appropriate policy; this includes checking that you are not covered by work benefits or a partner’s PPI.
Were you advised that your PPI was essential?
Banks are notorious for selling expensive insurance alongside their products and this can lead to lenders insinuating that Personal Payment Insurance is compulsory. If you were given a PPI under false pretences, then it is important to speak to a PPI claims solicitor to discuss how to take your claim further.
Were any medical conditions taken into consideration?
The majority of PPI policies do not cover medical conditions and if you have been issued a policy without being asked about your medical history, you could be entitled to pursue a PPI claim. Check your documents to ensure that the process was followed correctly.
For further guidance on PPI Claims, contact the specialist team at Precision Claims. Precision Claims has won thousands of pounds for clients across the UK and can provide you with an outstanding service.
