How to tell if you’ve been mis-sold PPIQuick check: were you mis-sold?

Around 2 million policies have been mis-sold - was yours one of them?

There are clear rules that finance firms and advisers have to follow when selling payment protection insurance (PPI) policies – despite this our research shows that over a million policies have been mis-sold.

Mis-selling checklist

If you can answer ‘no’ to one or more of these questions, then you may have been mis-sold PPI.

• If the insurance was optional, was that made clear to you?

• Did the adviser tell you about any significant exclusions under the policy – for example, the exclusion that says you won't be covered for any pre-existing medical condition?

• If you took out a loan or finance agreement, did the adviser make it clear that you would have to pay for the insurance up front in one single payment?

• If you had to pay for the PPI as a single payment, did the adviser make it clear that the insurance cost would be added to the loan and you would be paying interest on it?

• Single premium PPI insurance normally only lasts for 5 years. If your loan or finance agreement was for longer than this, did the adviser make it clear that the insurance would run out before you had finished paying for your loan or finance agreement? The adviser should also have told you that you would continue to pay interest on the insurance premium, even after the insurance expired.

Video guide

Watch our video guide for a run through of how to check if you were mis-sold and what you should do if you were.

What to do next

• If you think you have been mis-sold PPI - If you think you've been mis-sold PPI you should make and a formal complaint as you may be entitled to compensation. Our step-by-step PPI complaints guide  makes the process simple.
• If you don’t think you’ve been mis-sold - If you did take out PPI knowing all the pros and cons, then you probably weren't mis-sold. That doesn't mean you have to keep the PPI if you are now having second thoughts. Think about canceling the PPI in favour of better protection.

Claim for a PPI refund now.

Claiming online is quicker and easier - just choose your provider, answer a few questions then send the email.

Get in touch

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• Email us and tell us your experiences.
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