What is the importance of using an online PPI claims calculator? Having a general idea of how much the value of the refund you are due will give you a general idea of how much you can claim. There are two ways that you pay premiums for a payment protection insurance policy: as a lump sum or through monthly payments. It is easier to estimate refunds if you paid on a monthly basis since you simply need to add up how much you’ve paid. With a single lump sum, on the other hand, determining refunds can be more challenging since they are added to the amount of the loan and as such, have generated interest over time.
Online claims generators are actually very easy to use, since all you have to do is type in the amount of your monthly loan and then choose the length of your debt from a drop down menu, as well as indicating how long you’ve been repaying it or if the loan has already been completely repaid. The generator will then give you a rough estimate of how much you can expect if you make a claim. But you should also keep in mind that this is not a definitive final amount and the actual refund you could get may still vary from the estimate.
Since there are a variety of online PPI claims calculators available, you may want to consider using two or more of them and then comparing the results. This may give you a more accurate estimate of how much the actual final amount you will actually receive if your claim is successful. Don’t hesitate to file a claim with the provider who sold you the policy if you feel that you are owed a refund. If the process proves too complicated, however, you can consider using the services of a claims management company, who will make representations on your behalf. While you will have to pay a certain percentage of your refund to them as their fee, you are spared the hassle of pursuing the claim while enjoying their expertise in navigating the sometimes complex process of PPI claims.