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
- 1 Migrant crisis: Greek soldier saved 20 people singlehandedly off Rhodes beach
- 2 Frank Lampard's face drops when Holly Willoughby introduces him as a 'Man City legend'
- 3 UK weather: Britain braced for snow as arctic air mass moves in
- 5 General Election 2015: Stephen Hawking says he will vote Labour
General Election 2015: Chuka Umunna on the benefits of immigration, humility – and his leader Ed Miliband
The sickening truth about food banks that the Tories don't want you to know
Aaron and Melissa Klein: Oregon anti-gay bakers ordered to pay $135,000 after refusing to make cake for same-sex wedding
Andrew Lloyd Webber: Phantom of the Opera writer mocked after issuing a warning about Ed Miliband and Nicola Sturgeon
General election 2015: Labour will toughen hate crimes legislation surrounding Islamophobia
HSBC review into moving headquarters from UK 'underway'
iJobs Money & Business
£20000 - £60000 per annum: Recruitment Genius: Are you recently QCA Level 4 qu...
£20000 - £22500 per annum + OTE £30K: SThree: SThree Group have been well esta...
£25 - 30k: Guru Careers: We are seeking an Application Support Analyst / 1st L...
£45K - £55K (DOE) + Benefits: Guru Careers: We are seeking a full stack .NET D...
Day In a Page
Surrounded by the Western fells, this five-bedroom Georgian home retains many original features including panel-plastered ceilings, sash windows and fireplaces.
This six-bedroom home is set amongst three acres of grounds. Currently a large family home, Clift Hill has potential to make a B&B, subject to change of use permissions.
A former period coach house, Glebe Farm Stable is now a three-bedroom cottage with a double car barn, office, kennels and an outbuilding that's currently used as a gym.
Set sail for this four-bedroom farmhouse in Cowes. With five acres of land and an indoor pool, this home oozes character. There is even potential to let a one-bedroom annexe.
Surrounded by woodland, this five-bedroom manor house has plenty of outdoor storage space in the form of three converted loose boxes, two smaller outhouses and a woodstore.
This four-bedroom detached home comes with a double carport, useful workshop, garden and two walkways that offer views of the adjacent countryside.
With space for an equestrian business, a greenhouse for growing your own veg, a wine store and a gym; this five-bedroom home has all the ingredients for a country retreat.
This four-bedroom home has exposed brick chimneys and a vaulted ceiling in a breakfast room that's ideal for summer entertaining - the doors open to the patio and garden.
The decked roof terrace of this two-bedroom flat is perfect for summer drinks while large windows and ample storage space make for a light and spacious interior.
Surrounded by approximately 15 acres of grounds, this six-bedroom grade II-listed home has been extensively refurbished yet retains many period features.
This four-bedroom home comes with a two-bedroom cottage and commercial office, with planning to extend, in a stunning courtyard setting.
In a pretty Norfolk village, this four-bedroom family home is surrounded by landscaped gardens, with even a self-contained annex for guests.
A few miles from the seaside at Perranporth, this four-bedroom farmhouse sits amongst nine acres of idyllic grounds - including a lake and two barns used as holiday lets.
This five-bedroom home is arranged over three floors of a converted Victorian hospital, offering spectacular views of the Pentland Hills - only three miles from the city centre.
This four-bedroom detached home comes with grounds that span to approximately 2.5 acres, as well as two large patio areas and a double garage.
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