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Monthly Archives: June 2009
A Quarter of Home Insurance Policies Cancelled As Recession Grips
One in four people have cancelled or not renewed their annual home insurance in order to save money during the recession, according to a recent survey carried out for the association of British insuraers (ABI) The research carried out by a national survey of over 2,000 adults conducted by YouGov, on behalf of the ABI, also shows that other insurances that are seen as ‘luxuries’ such as life insurance are also being ditched, as families try to balance outgoings with income, in what is already in most homes a seemingly impossible task. The survey found the following worrying trends for the UK Insurance market: Nearly a quarter of people 22% say that to save money in the last year they have cancelled or not renewed their home contents insurance . More worringly, 17% say that they have cancelled or not renewed their buildings cover, some probably against the terms of the mortgage that usually insists that buildings cover is in place to protect value of the charge on the property. Continue reading
Posted in Insurance
Tagged association, british, buildings insurance, buildings-cover, carried-out-for, happen-if-their, internet, life-insurance, recession, scotland
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Payment Protection Insurance Claims and Premiums Rocket
The recent tide of misselling of Payment Protection Insurance in the UK , in particular the outlawed single premium PPI cover, is ripping back to catch those offending banks and lenders through the UK courts. If you have been ‘sold’ either Mortgage Payment Protection Insurance, Loan Payment Protection Insurance or credit card insurance during the last four years, you more than likely have the opportunity to claim all of your premiums back! Before you go running to many of the no-win no-fee PPI claims lawyers that are springing up everywhere, your first port of call should be to complain to the offending bank, lender or finance company that mis-sold you the protection. If you do not get any from them then you should immediately contact the Financial Ombudsman The number of PPI mis-sold policy complaints being upheld against financial services companies has soared during the past year, according to the Financial Ombudsman Service Annual report, which deals with public complaints about Insurance. The number of complaints about payment protection insurance misselling tripled to 31,066 during the last year, this followed a five-fold increase in complaints during the previous year Continue reading
Posted in Insurance
Tagged complaints, during-the-last, financial, Insurance, opportunity, payment, service-annual, unemployment
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