www.iva.co.uk

Hi Everyone,
Our Mortgage Payment Protection renewel from Abbey came through at the weekend and it is going up by £20 a month,(our mortgage is with Abbey) a) does anyone know if we can change providers to try and find a cheaper one, we are in our first year of an IVA, and b) any ideas of any decent companys we can try??

Thanks all
Abi x

You need to check the terms of your mortgage with Abbey to see whether you are able to change providers for this insurance.

Hi we were also with Abbey and we changed to Assurant Solutions AND we got better cover for less money!

Hi
Try John Tegg from Coveritall, see the experts list. He offers payment protection and is very competitive, I use him myself.
Regards

Good to see you back up and running Andy. You was confusing me using your other identity

Glad you've been sorted out Andy - good to see your picture back!

Thanks guys for your replies
Destiny Thanks thats a great help knowing someone else was with Abbey and have managed to change are you in an IVA as well?
Andy just done the Calculator on Johns's web site and it has come out £20 cheaper than what it now !! before the increase of £20 as well
Many thanks
Abi x

Hopefully this post will be of great interest to anyone who has any form of insurance through a bank/building society.

It is not uncommon to achieve the savings Abi has by shopping around for Mortgage protection and Buildings/contents insurance.

Everyone should realise that these institutions have been ripping off consumers for years with their hard sell tactics of overpriced insurance products.

Check your policies then tell all your friends !!!

Glad I've never been talked into getting any.

I contacted the Financial Ombudsman recently and asked what proportion of casews of mis-sold PPI were attributed to Banks & Finance Companies selling single premium PPI and what to IFA's, as I was not aware of a single case attributed to IFA's.

They replied that they did not have exact figures for the past, but this situation could change next year. They went on to say "In the cases we see, for example, single-premium policies sold by a lender at the same time as the loan appear to present considerably more problems than monthly mortgage protection policies."

Choice1 wrote:

Hopefully this post will be of great interest to anyone who has any form of insurance through a bank/building society.

It is not uncommon to achieve the savings Abi has by shopping around for Mortgage protection and Buildings/contents insurance.

Everyone should realise that these institutions have been ripping off consumers for years with their hard sell tactics of overpriced insurance products.

Check your policies then tell all your friends !!!

I dont think for 1 minute it is all down to hard sell. Many companies rely on the apathy of the customer who just renews with the same company without even checking to see if they can get a better deal elsewhere.
There is plenty of money to be saved out there..if one can be bothered to get of ones backside and find the savings(not hard nowadays with all the comparison sites).

It's not always about saving money on the premium though.

Our contents insurance is not the cheapest, but we don't have an excess at all and we have claimed a few times over the years.

Car insurance also has all of £75 excess and none on windscreen and glass. It wasn't mega expensive, I could have got it slightly cheaper but not without risking having to pay a large excess.

It is horses for courses as they say - sometimes a cheaper premium does not give you the cover needed or carries a higher excess.

Exactly!