PPI Claims Guide

If you’ve been wrongly sold payment protection insurance (PPI), you may be able to claim money back from your lender. The process can be confusing and frustrating, but this guide will walk you through it step by step.

What is a PPI?


Payment protection insurance is designed to cover your repayments if you lose your job, have an accident or become ill. It is usually offered when you take out a loan, credit card or mortgage.

You may have been mis-sold PPI if:

  • You were not told about all the costs of the insurance
  • You were not told that you can buy insurance elsewhere
  • You weren’t told
  • You were not told about the exceptions
  • Insurance was added to your loan without your knowledge
  • You were told that you had to take out the insurance

If any of these things have happened, you may be able to claim back the cost of the insurance with interest.

How do I make a compensation claim?


The first step is to contact your insurer and ask for a PPI claim form. You must complete the form and send it back to your insurer along with any supporting documents.

The lender will then investigate your claim and decide if you are eligible for a refund. If they find that you have been wrongly sold PPI, they will refund the cost of the insurance plus the interest you paid.

What if the insurer refuses my claim?


If your insurer refuses your claim, you can file a complaint with the Financial Ombudsman Service. The ombudsman will investigate your case and decide whether you have been treated unfairly. If he thinks he can order the insurer to pay you compensation.

Making a PPI claim can be a long and complicated process, but it’s worth persevering if you believe you’ve been mis-sold. This guide will help you get the compensation you’re entitled to.