4 Expert Tips For Claiming Back PPI in The UK

By on June 10, 2013 in Insurance, Personal Finance

In the last few years, something called PPI has been making big headlines in the UK.

What is PPI you might be asking? Basically, it was something that was sold with many loans, mortgages, and credit cards. Unfortunately, the majority of policies were illegally sold, which means millions of people are now entitled to their money back.

If you think you have a PPI claim, and you want to get revenge on the bank, mortgage company, or credit card company that ripped you off, then there are certain tips that can help make the whole process extremely smooth.

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Make sure you have a claim

In order to make sure you have a claim so you don’t end up wasting your time, you need to check all of the paperwork that was issued with your loan, mortgage or credit card.

If you see any mention of PPI then there is a high chance that you have a claim, which means you should look to strike while the iron is hot!

Contact the institution

The next step in claiming back PPI is to contact the institution which mis-sold you the policy. For example, if you had a PPI policy from a bank, then you should send them a letter detailing why you think the policy was mis-sold and the amount you are demanding.

Not sure how to word your letter? Don’t worry, as there are many PPI letter templates on the internet. Simply find one which meets your needs and edit it slightly to fit in your unique details.

Once this is done, send it by recorded delivery through the post, so there is no chance they can say that the letter was never received.

Wait for their reply

Typically, you should receive a reply from the institution within a couple of weeks. Don’t expect them to simply hand you over the money though, as in the majority of cases they will look to play hard ball and deny you of the settlement which is rightfully yours.

Don’t give up though. If you feel confident in your claim then keep sending them letters. It may take a little while, but eventually they will give in and either send you a check or make you an offer.

PPI claims company

Maybe you don’t have the time or expertise to file your own claim? In this situation, it’s a good idea to seek the help of a professional PPI claims company.

They can tell you exactly how much you are owed, and contact the institutions on your behalf, which means you don’t have to worry about writing letters.

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Six Common Blunders When Buying Car Insurance

By on May 28, 2013 in Insurance, Personal Finance

When the majority of people are looking to buy car insurance, they are so focused on getting the cheapest deal that they end up forgetting about everything else.

In reality, there are many different factors which contribute to getting the right car insurance deal for your own unique needs.

Avoid these six common blunders to give yourself maximum protection when buying car insurance…

Not purchasing enough coverage

Let’s say you are shopping for car insurance at Axa Ireland online. While you might be looking for the cheapest price possible, you should also make sure that you are getting the right kind of coverage.

Quite simply, most people don’t purchase enough coverage, which leaves them vulnerable to huge fees if they ever have an accident.

Not understanding your policy

Ultimately, it’s your responsibility to understand what your policy includes before you sign on the dotted line.

For this reason, if there is anything you don’t understand then you should seek further clarification before making the purchase.

Not asking for discounts

Did you know that many car insurance companies offer hidden discounts that are not widely advertised?

For example, if your car is fitted with all of the latest security gadgets, then you may be able to receive a large discount off the initial quoted price.

Not taking advanced driving lessons

Once the majority of people pass their driving test then they stop learning. Ultimately, you should always be looking to improve your skills and knowledge so you can become a better driver.

Also, car insurance companies like to reward advanced drivers with discounts, so it’s definitely in your best interests to take a few lessons.

Not bundling your insurance

There are now some companies which offer multiple insurance products, which means you can use this to your advantage to receive large savings.

You can bundle things such as car insurance, life insurance, and homeowners insurance together all by filling out a simple form, and you also have the advantage of only dealing with one company.

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Not telling the truth

This is a huge blunder, and something that you should never do. Let’s say that your car is parked on the street overnight, but when getting insurance you say that it is kept in a garage.

While this may result in lower premiums for the short-term, if anything ever happened to your car while parked on the street overnight, then your policy would instantly become null and void, which means you would have to pay for everything out of your own pocket.

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Different Ways to Get Your Money When Abroad

By on May 28, 2013 in General, Personal Finance

Many years ago, if you wanted to spend money when abroad you basically had two choices. You could either take cash or travelers checks to exchange into foreign currency.

How times have changed. These days you have many different options to get your money when abroad, so many in fact, that it can be hard to know which option to choose.

With this in mind, here are some of the more popular options.

Cash

While it can be a good idea to take a little bit of cash with you, it’s not advised to take a large sum. At the end of the day, if you lose it then it’s gone for ever, as you have zero protection.

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You can take part in Money Exchange Worldwide although it’s highly recommended that you exchange any money while you are still at home.

This gives you the chance to use a Currency Exchange Converter online, and spend some time searching for the best deals.

ATMs

Using an ATM to get your money when abroad is not free, but it still remains one of the cheapest options available.

ATMs can be a good way to get small amounts of cash out on a daily basis, so you are not carrying around a large amount at any one time.

Credit cards

Without a doubt, every traveler should have a credit card when abroad, as they are the safest way to make large purchases. The fees are usually very low, and in many cases you end up getting one of the best exchange rates around (even with the fee).

However, you must be aware that it is normally a bad idea to use your credit card in a foreign ATM, simply because you end up paying multiple fees, which makes it very expensive.

Travelers checks

Although travelers checks may be on their way out (in some smaller countries they are no longer accepted), there is no denying that they still have their uses.

Despite their high charges, it’s a good idea to have a few travelers checks with you in the case of an emergency. If the worst was to happen, then at least you would have something to fall back on while you got the situation sorted out.

Sure, nobody likes to think about those worst case scenarios, but it always helps to be prepared for them. Ultimately, you never know what’s going to happen.

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Look To The Internet For A Bargain

By on May 28, 2013 in Money Saving Tips, Personal Finance

One of the consequences of the credit crisis and all that has followed upon it is that we are much more aware of our outlays and expenses these days. If we can make some savings on regular outgoings then this is to be welcomed. However  it was not always easy to compare the price of products or services to ensure you got the best possible rate. That has all changed with the rise to prominence of the internet. Now, with a few clicks of a mouse you can scan prices for all manner of goods and services.

Take car or home insurance as a simple example. When looking for the best rates all you need to do is to log on to any of the many comparison websites input the relevant data and wait a few seconds until the system finds the best deals out thee. Previously, what now takes just a moment or two would have occupied many hours phoning round insurers, repeating the same details ad nauseam, with no guarantee at the end of it of making a decent saving.

And it is not just services such as insurance where the internet has proved invaluable. If you are looking for a discounted holiday deals there are a plethora of sites from established names like Secret Escapes, LastMinute.com or Expedia. For fashion there are similar sites like Cocosa, Hush Hush or SaveonGoods.ca. Check out the following great tips from online fashion store Brandalley…..

 

And even if you are looking for something a little bit more prosaic, such as domestic cleaning services, you could land a bargain with one of the daily deal sites where such services are on offer for excellent discounts.

So it would seem that no matter what you are in the market for, your first port of call should be to get the laptop or tablet out and do some surfing!

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Go Online To Get The Best Deal On Car Insurance

By on May 27, 2013 in Insurance, Personal Finance

Car insurance is more than just a luxury or an optional payment – it’s a legal requirement and if you want to stay on the right side of the law, not to mention ensure that you are protected should you be unlucky enough to have an accident, it something you need to get.

That said, there is no reason why anyone should be paying more than is strictly necessary for vehicle insurance. Even in this day and age, where there are so many demands on people’s finances, it’s surprising how many people choose simply to renew their car insurance with the same provider year after year, or if they are in the market for the first time, opt for the first and only quote they get.

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If you want to end up with a competitive quote for car insurance, it’s essential that you shop around for the best deal available.

The good news is that this does not have to involve too much work. In days gone by, you would have had to phone around company after company, repeating the same information ad nauseam, to try to get an idea of different costs. No wonder so many peole just did not bother and went with the first choice available to them. Now, however, with the selection of price comparison sites out there, this need no longer be time consuming or a chore. The best thing about these sites is that you only have to give them your details once – simply put the necessary personal and other data in to their system and they will soon provide you with a number of quotes that satify the relevent criteria. What coud be easier?

You will need to provide all your personal information, such as your age, where you live and how long you have been driving. You will also need to choose an excess that you are comfortable with. Just be careful here. Picking a larger excess can reduce your premium, but make sure it’s affordable. The last thing you want is to have to resort to the services of a firm of payday loan lenders because you can’t afford to pay your car insurance deductible!

The online form will guide you. Make sure your replies are accurate because if not this could have a material effect on your cover. Comparison sites are, in a way, the digital equivalent of using an isurance broker to find you the best deal. You could still use a broker if you prefer the “personal touch”, but for most, a comparison site is the perfect, convenient solution, allowing you to take care of matters at the click of a mouse.

One last point about car insurance costs. Most people elect to pay their insurance monthly, rather than in a lump sum. This makes your insurance easy and affordable. However, it is worth bearing in mind that if you have some spare cash available and decide to pay your insurance premium in full, you could make a substantial saving on your yearly costs.

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