Questions of Cash: Now I know two sets of compensation are on the cards from my CPP cover
Saturday 31 May 2014
Q. I bought credit card protection insurance from CPP about 20 years ago, but I cannot remember the details, including whether the insurance was sold directly by CPP or NatWest, my credit card issuer. I purchased the insurance as it provided cover for unauthorised transactions on my card and did not realise the bank provided this cover. Each year this insurance has been renewed automatically by CPP. I have now been notified by CPP that I may be entitled to compensation for mis-selling. I have been sent a claim form and told that if I qualify premiums since 2005 will be refunded. I do not understand why premiums before this are not taken into account. If I sign the claim form, it states I will have no further claim on CPP. ST, Essex.
A. We contacted CPP, which explained that under the Scheme of Arrangement agreed with the Financial Conduct Authority regulator the scheme only covers mis-selling since 14 January 2005. You can still claim for mis-selling before this date but you must go directly to the seller of the product. CPP confirmed you had not been sold its insurance by NatWest and requested you contact it direct to establish who had sold the product prior to 2005. You subsequently told us it had been sold by the former Abbey National Building Society, since acquired by Santander. We contacted Santander, which has sent you a claim form. A spokeswoman said: "[The reader] should complete and return the claim form she has received for her post-2005 CPP complaint and we will investigate her pre-2005 claim. Signing the CPP claim form will not affect her claim with us."
DRIVEN TO DISTRACTION TRYING TO INSURE A NEW CAR
Q. I am in the process of changing my car. I am insured through the Post Office with an annual premium of £155.44. My policy expires in October. I phoned the Post Office to change the details of my cover to my new car, which is in a lower insurance group. I was quoted £122.52 to pay extra, including a £20 administration fee. I asked if I cancelled the policy how much I would be reimbursed – the answer was a £23.36 refund, due to the £20 administration fee and £55 cancellation fee. How can they charge two fees? I asked for an annual quote for my new car with the same cover, but in a lower insurance group. The quote was £284, a lot higher than the £155.44 for my old car. I obtained a quote from the Post Office website – changing my name as the site would not quote me first time. It came up with £184 – £100 cheaper. RA, Lincolnshire.
A. You have come up against what might be termed the "insurer's disloyalty charge" – existing customers are charged more than new customers. A spokeswoman for the Post Office put it in different words. "An online quote will attract an introductory discount for new customers, common practice among insurers," she explained. She added: "There are a number of factors which affect the premium following a change of car, including make, model, value, engine size etc. We would like to retrieve [the reader's] quote and discuss it with her, but as she has entered a different name, we are unable to do an accurate comparison. We have listened to the calls with [the reader] and at no point did we advise she would incur two administration fees. We informed her the cancellation fee would be offset against a pro rata refund, representing the unused term of her previous policy and that we would not add any additional fees or charges." Your experience illustrates the importance of conducting price comparison checks annually with an online comparison site, a local insurance broker and a direct insurer.
MY BRUSH WITH THE LAW AFTER I RENEWED POLICY ONLINE
Q. I had a car insurance policy with One Call, due for renewal in February. I used an online price comparison site to check premium costs. The cheapest on offer was from One Call at £141.99, approximately £30 cheaper than the renewal quote given by them. So I paid with a credit card. I received my certificate of insurance through the post a day or two later. Then I received a letter telling me I had not paid a £25 renewal fee, but this was not mentioned when I took the insurance out online. I queried this with One Call's customer enquiries, pointing out this was not mentioned when I took out the policy. I reluctantly paid, and then received another letter to say my insurance had been cancelled and I would be entered on the police register as having no insurance. I again contacted One Call, who confirmed my insurance was in place. RN, Devon.
A. One Call has not responded to our inquiries, but it has contacted you and refunded the £25. Your story underlines what can be a disadvantage of renewing an insurance policy with your existing insurer – even if you do so via an online price comparison site.
Questions of cash cannot give individual advice. But we'll do our best to help if you have a financial dilemma. Email us at: email@example.com
Debt in Britain: Numbers seeking help on how to cope with mounting bills goes up by more than half in three years
Bargain Hunter: BT improves its mobile reception with 'incredibly competitive' deals
Help to Buy Isa Q&A: Are they real help for first-time buyers or simply a vote-winner for the 2020 election?
Offset your mortgage and save thousands
Simon Read: 'It went below the radar but you could be eligible for a tax break on your savings'
- 1 Germanwings crash: Captain of doomed plane was only 'on board because he changed job to spend more time with his children'
- 2 Ohio Democrat Teresa Fedor speaks out during abortion debate to reveal she has been raped – and is interrupted by laughter from Republicans
- 3 Gamers confess the worst things they've done in The Sims
- 4 Germanwings crash: 'Andreas Lubitz planned to marry pregnant girlfriend', claims German report
- 5 Germanwings plane crash: Transcript reveals passengers 'screamed for over five minutes' before plane crashed into mountain
Ukip supporters are 55 or older, white and socially conservative, finds British Social Attitudes Report
JK Rowling responds to fan tweeting she 'can't see' Dumbledore being gay
Street preacher quoting from the Bible fined for calling homosexuality an 'abomination'
Jeremy Clarkson sacked live: Alan Yentob 'wouldn't rule out' ex Top Gear host's BBC return
Woman filmed launching racist tirade against men on the Tube for speaking in 'own lingo'
The West has it totally wrong on Lee Kuan Yew
iJobs Money & Business
£22000 per annum + pension,bonus,career progression: Ashdown Group: An establi...
£22000 per annum + pension,bonus,career progression: Ashdown Group: An establi...
£18000 - £20000 per annum: Recruitment Genius: A Client Services Assistant is ...
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
Day In a Page
This four-bedroom cottage is a Grade II-listed town house, well-located for the thriving market town of Nailsworth.
A four-bedroom apartment on the ground floor of a stunning period property in North Yorkshire, with two kitchens and a large south-west facing garden.
This high-spec two-bedroom home is part of a smart collection of new flats at Beaufort Park and has a large decked balcony that's perfect for summer drinks.
Capitalise on the fabulous views of Trevone Bay by taking two homes and creating one spacious boutique B&B. Just a cliff-top walk from Padstow.
Overlooking a golf course, this six-bedroom Edwardian detached home spans four storeys and retains many period features including the original, operational servants' bells...
On the edge of the city, this six-bedroom home comes with an outdoor swimming pool and a large garage block that has annexe potential.
In a Grade II-listed manor just outside of Bath, this three-bedroom home is arranged on two floors with a skylight in a vaulted roof line.
Open the living room's bi-fold wooden doors to reveal a retro-style kitchen, and a conservatory leading to a paved garden at this three-bedroom home.
A Grade II-listed, four-bedroom home, in a charming Somerset village, with a two-storey studio that could be converted into a holiday cottage
A modern four-bedroom Victorian home, within walking distance to the high street
A luxury apartment in the Gothic mansion of Wyfold Court in Kingwood, offers six bedrooms spread over three floors and a turret
This school conversion, near Stockwell Tube, oozes New York loft style. The one-bedroom flat features double height ceilings and exposed brick work
This six-bedroom Georgian home is on three floors with open fireplaces, a two-oven Aga, an annexe, and cottage gardens with outbuildings and a car barn
High Crest House covers an impressive 9384sq ft, with almost three acres of grounds including a tennis court and summer house enclosed by electric gates
A six-bedroom farmhouse with separate accommodation in converted stables. Situated in the village of Church Aston, within walking distance to the market town
A two-bedroom flat with under-heated walnut floors and bespoke built-in storage. The Tube and Clapham Common are a short stroll away
A refurbished seven-bedroom townhouse with staff quarters, cinema room, superb gym, steam room and plunge pool
A minimnalist four-bedroom home designed to the highest spec, featuring glass walls and a kitchen space lit by a glass roof
Hibernate during winter and make your living during the summer at this busy guesthouse with panoramic sea views, in the village of Lynton
A four-bedroom penthouse next to the Tate with direct views of St Paul's from two floors of luxurious living space
A four-bedroom detached home surrounded by spacious gardens and woodland, close to New Pudsey
An 18th-century, three-bedroom home near Langstone Harbour built from ships beams with vaulted ceilings and wood burning stoves
A five-bedroom semi-detached home with a mix of period and modern features in a popular and convenient location
This five-bedroom red-brick beauty overlooks the village green and sits in just under two acres of land
A three-bedroom villa with self-contained flat, minutes from Lake Windermere
A five-bedroom Victorian home with four receptions, superb gardens and paddock in Pembury
An eight-bedroom house on the south side of the The Green with cinema, wine cellars and summer house
This 17th century beauty is full of rustic cosiness, while the detached home office means you can also run a business
Four exclusive apartments in a Grade II-listed former medical school with 2,275 sq ft of living space and 18ft ceilings
A five-bedroom terraced house on the popular Peterborough Estate, ideally located for both Eel Brook Common and South Park
A state-of-the-art farm-building conversion on the former Cliveden Estate, with 11,420sq ft of internal space, cinema and wine cellar
Windsor Castle overlooks this three-bedroom Victorian cottage located on one of Windsor's smartest roads
A boutique mews house, set around a central courtyard, with three bedrooms and a private roof terrace
A four-bedroom farm-conversion with three bathrooms and two reception rooms
A two-bedroom detached house with ensuite bathrooms and a sun-drenched decked terrace, £750,000
A modern and spacious two-bedroom, penthouse flat with two bathrooms in a prestigious development
A beautifully renovated five-bedroom terrace with three reception rooms and a courtyard garden, £700,000
A four-bedroom period house which has been extended to provide almost 2,500sq ft of living space, £675,000
A pretty three-bedroom Georgian home with a 22ft drawing room and a master suite with a balcony, £525,000
A substanstial family home with five bedrooms and landscaped gardens in the much sought-after Branksome Park area
A well-presented three-bedroom house with front and rear gardens, close to White City station, £475,000
A handsome five-bedroom house in a sought-after location close to the city centre
A five-bedroom country home with valley views, equestrian stables and 27 acres of land, £725,000
A six-bedroom farm house with separate, detached cottages and 371 acres of land
A two-bedroom cottage with parquet floors, chunky beams and an open fireplace
A three-bedrrom flat with 2,733sq feet of living space, a beautiful private garden and 15 acres of communal grounds
A four-bedroom chalet bungalow with three bathrooms and a spacious garden, £525,000
A two-bedroom flat with an open plan kitchen and two balconies, close to Arsenal station