Ppi

[tigerlelly]

I've just realised that the monthly amount of PPI that I pay to my credit card provider is higher than the sum I pay for Buildings and contents insurance (also paid monthly). This seems to be a bit of a rip off to say the least. Do I have a case for reclamation of PPI or, as I signed up for it, is my own stupidity for not checking more closey to blame?

[BlackadderV]

If you don't need it cancel it.

[tigerlelly]

At the moment I don't need it but as to the future who can say?

[BlackadderV]

I was paying it for years until I realised that I could never make a claim as I had a guaranteed income. Tried claiming it back but no luck.

[bednobs]

well that's the whole thing about insurance .... you pay and take the chance you'll need it and the insurance company provide you with cover and take the chance you'll never need it.

[tigerlelly]

Quite so. However, the PPI on my credit card is almost double that of my Home and Contents Insurance. My house is covered for up to £1 million and the c.c. only for £4,000 so my C.c. company is laughing all the way to the proverbial bank. Do I have a case for a refund is my question.

[237SJ]

This might be of use http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#faq

[tigerlelly]

Thanks SJ.

[Peter Pedant]

// well that's the whole thing about insurance .... you pay and take the chance you'll need it and the insurance company provide you with cover and take the chance you'll never need it. //

bit of a smart-a++++ed one liner there.

the whole thing about this rip off is that the insurance company DIDNT take on a risk whilst taking the premium because they had no intention of paying out in the event of a claim

which is kinda well you know unlawful actually

so yes Tighg you may have a claim
go on looking
as I would only use a reclaim service if [ well if someone was pointing a shotgun at me actually ]

and good luck

[Peter Pedant]

do you have a claim - you ask
this depends as so often on what the document says

If you had insured against a rish which was never gonna happen - usually loss of income when self-employed when they were never gonna pay out against loss of slef-employed income, then yes