How to Determine If You Are Eligible for a Protection Insurance Refund

Not everyone who has purchased PPI is eligible for a protection insurance refund because, believe it or not, there are some ethical lenders out there who take the appropriate (and legal!) actions when selling payment protection insurance. You are only eligible to file a claim for a protection insurance refund if you have been mis sold PPI. The question is, how do you determine if you are eligible for a refund? Quite simply, you need to understand how PPI is mis sold and if you fit into any of those categories. If so, then you can file a mis sold PPI claim to get a protection insurance refund. It’s as simple as that – well, almost.

Was I Mis Sold PPI?

If you are trying to determine whether or not you were mis sold PPI that, in itself, is a good indicator that you probably were! One of the key requirements when selling PPI is that the customer has a thorough understanding of what it is all about, including any conditions, exclusions and of course cost. Once you need to question whether or not you were mis sold PPI then perhaps you don’t have the understanding that the law requires you to have and may be entitled to a protection insurance refund. To put it another way, the person has to know what they are buying and how much it costs. End of story!

Some Basics to Filing for a Protection Insurance Refund

In order to file for a protection insurance refund you would make a case for yourself that you were mis sold PPI and then state how much money  you have paid so far. This would include interest as well as premiums you paid. This is the amount you need to request in your protection insurance refund. If you are unsure how to file a claim, there are claims management companies registered with the Ministry of Justice that can file a claim on your behalf, take it to appeal if needed and communicate with lenders and any other interested parties as well. This relieves you of the frustration of arguing the finer points of a claim and is certainly a lot less expensive than hiring a PPI claims solicitor.