40% of Payment Protection Insurance claims for accident & sickness, not unemployment

Payment Protection Insurance (PPI) claims over the last 12 months have in 40% of cases been related to accident & sickness, not unemployment.

According to information from Paymentcentre, borrowers may be ignoring Payment Protection Insurance because of the recent negative publicity.

The danger is though they might actually be putting themselves at unnecessary risk.

The negative publicity has been around failed PPI claims following unemployment and the investigation by the Competition Commission and FSA into mis-selling of single premium PPI by such as high street banks.

As Shane Craig, MD of Paymentcentre, points out ‘Protecting yourself against unemployment and redundancy is just one reason to sign up for PPI. Being unable to work because of accident or illness is something that no-one can predict and can be equally devastating.’

With independent providers of PPI, such as Paymentcentre and British Insurance, there is no connection with the loan provider. Monthly paid PPI policies can be had at competitive and realistic prices.

MoneyHighStreet has prepared some helpful articles on PPI, including an introductory one looking at what PPI is and what it covers.

Getting a PPI quote online is quick and easy, only taking a couple of minutes.