Categorized | Insurance

Filing PPI claims: Some considerations to help you get started

While PPI claims are simple enough to file, it is true that PPI insurance claims are serious business. If you don’t do things properly, you stand to get rejected by your lender, depriving you of the PPI claim back you could be enjoying. It is for this reason that some of those looking to file PPI claims seek PPI claims management companies to help them out, ensuring that they do get what they are due from PPI insurance claims. There’s nothing wrong with this approach and not all the claims management companies are scams, but do take note that filing PPI claims is entirely possible to do on your own. Understand fully what you have to do when filing PPI claims and you should be enjoying that much-awaited PPI claims payout in no time.

What to do?

Consider the following when filing PPI claims:

 

  • First of all, you need to make sure that you have a case when filing PPI claims. Just because you have a PPI policy doesn’t mean that you can file PPI claims. In order to be eligible to file PPI claims, you have to find if you have been mis-sold PPI policy. You have a mis-sold PPI policy – when you are not informed about the inclusion of a policy along with your loan, when you are misinformed about PPI so you inherently made a misguided choice about taking out a policy, or when your lender forced you to take out a PPI policy saying that it is needed for the approval of your loan. If any of these conditions suit you, then you can file PPI claims.

 

 

  • The number of PPI claims you can file too should correspond to the number of PPI policies you have. Hence, if you have one PPI policy, you can only file one PPI claim. If you have 10 policies, then you can file 10 PPI claims.

 

 

  • It’s important to have documents to back up your case when filing PPI claims. To check if you’ve been paying for PPI without knowing, go over your statement and look for descriptions such as “loan care”, “payment protection”, and similar terms. If you’re sure you’re not supposed to have a PPI policy and yet you are being charged for premiums as your statement proves, this will hold up your case and boost your chances of getting a refund.

 

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