What is PPI ? What is Payment Protection Insurance ?

PPI stands for Payment Protection Insurance.

PPI is an insurance that maybe taken out along side a credit card, loan, mortgage or store card. The PPI Insurance would cover the monthly finance costs if you were unable to pay them due to not being at work or ill or being involved in an accident.

A PPI insurance will cover costs for a certain period and the terms of these personal protection insurance packages vary greatly. PPI is sometimes known as Loan Protection Insurance.

PPI has been making headlines in the financial and national press due to the nature of how many policies were mis-sold. The mis-selling of these policies has meant that many people may be entitled to claim monies they may have paid. With an average PPI claim of £3000 it is well worth finding out if you are entitled to money back.

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If you have taken out a loan or credit card, it is fairly likely you’ll have payment protection insurance. Many of these policies were mis-sold, which means that you may be entitled to claim compensation. We charge no up front fees for our PPI claims service so get in touch today.