Q: If I were to enter in a PCH (Personal Contract Hire) agreement for a car over 36m and the monthly repayments were £370. Can I get payment protection insurance for this amount to cover unemployment, accident and sickness?
A: The policy that we provide is an income payment protection policy it allows you to cover up to £1500 or 50% of your gross monthly whichever is the lower amount. The minimum is £100. At the point of claim the money goes to you to use as you wish, for loan, mortgage, utility bills etc.
The payment protection insurance policy itself runs on a monthly basis and keeps going for as long as you wish to have it. If you were to make a claim the maximum claim period is 12 months.
Full payment protection insurance policy wording and a quick quote facility are available online at www.britishinsurance.com.
If we can be of further assistance please do not hesitate to contact us again either by email or on 08450 175 178.