Choose your payment protection insurance cover wisely
- 16TH AUGUST 2007
If you have ever taken out a credit card, store card or loan then the chances are that you were asked if you wanted to take out payment protection insurance cover alongside it. Sometimes the cover is added without you even knowing and you have no idea what the policy entails or the exclusions within it, and it can work out costly.
On the other hand it can be a good idea, but you have to choose it wisely. You pay a monthly premium for the cover and for this, if you should come out of work due to having an accident, sickness or unemployment, your monthly repayments would be covered for up to 12 months – in some cases, 24 months.
If you want the protection that the payment protection insurance cover can provide then you have the choice of buying it independently from a more ethical and specialist provider than the high street lender. For instance, by going online with British Insurance you can save up to 80% on your premiums, which is a huge difference compared to the quote from the high street banks and lenders.
Payment protection insurance cover isn’t the easiest thing to understand, there are certain conditions within it that could stop you from making a claim, and not everything is covered. For instance if you were to come out of work due to an ongoing condition which you had at the time you took out the policy, then this would be excluded.
British Insurance do try to make everything as clear as possible when it comes to the purchase of a policy and they give free advice which is backed by years of experience in selling payment protection insurance cover. If you are wise then you’ll pay them a visit.
