How to Claim Back Personal Protection Insurance
A significant number of people are still not convinced that personal protection insurance is altogether a bad thing. Although there have been a number of claims on mis sold PPI, it could have been a great cover if it had been designed a bit better with the needs of the average UK consumer in mind. Unfortunately, payment protection insurance offers little cover for the average working family, the people who need it the most. Many individuals have had this cover misrepresented at purchase so that when the need arose they were unable to draw the benefits they had been led to believe were there. These are the people who are asking how to claim back personal protection insurance with ever increasing frequency.
Your Goal: Claiming Back What Is Yours
When filing a PPI claim it is important to recognise that the goal is to get a refund on any money that was paid into personal protection insurance. Therefore, you are well within your rights to question how to claim back personal protection insurance. Yes, you may be angry that you were not given the cover the lender assured you that you would have, but more importantly you want your money back - plain and simple. Therefore, the first item on your list of steps in how to claim back personal protection is calculating how much you have paid in.
Calculating Your Refund
When making calculations don't forget to take interest into account! Many loans charge a one-time premium for payment protection and then amortise it out over the term of the loan but there is the 'slight' matter of interest. You will not have a sufficient answer to how to claim back personal protection insurance until you realise that lenders are making their profit off the interest you are paying on personal protection insurance.
Learn From the Mistakes of Others
After you have all your facts and figures lined up it is time to actually filing a claim on mis sold PPI. At this point you could tell the lender that you are looking into how to claim back personal protection insurance but learn from the mistakes of others. Many lenders are offering a small refund when cancelling PPI and not at all the amount those borrowers had coming to them based on what they had paid into the programme. This is where it helps to pull out the 'big guns'.
Contact Belmont Thornton to speak with a member of our PPI claims team. Not only will they explain how to claim back personal protection insurance they will also show you how easy it is when filing through Belmont Thornton. We will never willingly settle for a small refund if you have paid much more into you insurance cover and we will make every effort to see that you get the amount due in mis sold PPI. Armed with knowledge of current PPI legislation and thousands of successfully filed claims, the claims team will go to work to help you claim back what is rightfully yours.
All you need to do is tell the team you are interested in how to claim back personal protection insurance and they will help you with the rest. Call today on 0207 471 2000 to speak with a member of the team.
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