PPI can be 'particularly valuable' to many people

Compare tariffs and switch energy supplier in minutes

Compare energy deals and switch supplier to cut your energy bills by £447* a year - start saving money in a matter of minutes!

in partnership with Banner uswitch

Looking to switch your business energy supplier? Click here

* Between 1 Jul 2018 and 31 Dec 2018, at least 10% of people who switched energy supplier for both gas & electricity with uSwitch saved £447 or more.

Payment protection insurance (PPI) can prove to be "particularly valuable" to a number of people, according to an expert.

Kelly Ostler-Coyle, a spokesperson for the Association of British Insurers (ABI), has stated that the cover, which pays out in the event of illness or redundancy, is specifically useful in an economic downturn.

She added that the insurance "really comes in to its own in hard times".

"It can give valuable peace of mind as many are unable to cope financially with their commitments when they are off work and looking for alternative employment. That's when PPI can kick in and pay out," she explained.

Ms Ostler-Coyle concluded that it is up to the individual consumer to decide what level of cover they want.

The ABI represents and promotes the interests of organisations in the UK's insurance industry.

According to the body, it has around 400 members which provide 94 per cent of the domestic cover services sold in the UK.

Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.

Cookies help us deliver our services. By using our services, you agree to our use of cookies. Learn more