Average payment protection insurance claims are now worth £2500

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UKPPIReclaim.com releases information which shows the average payment protection insurance claims are worth £2500.

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The UK payment protection insurance claims numbers are rapidly growing. UK PPI Reclaim have seen month on month growth in both the amount of claims which are handled and the total pay-out amount the clients are receiving

Payment protection insurance claim experts, UK PPI Claims Company have examined PPI claims data from a 6 month period from February 2012 to July 2012 and found that the average amount clients have been able to claim back is now reaching £2500. This £2500 figure is somewhat higher than UK PPI Reclaim expected when they started out the investigation into the data although it may come as no surprise to many due to the sheer increase in mis-sold payment protection insurance claims that are being made.

The six months prior, August 2011 to January 2012 found that the average claim amounted to £2300 so there has been a small, yet important increase on the amount the claims are worth of 8.7%. This upwards trend is in line with the fact that the UK bill for payment protection insurance claims is now over £4 billion with a further £5 billion set aside by the main UK banks.

Although there are many PPI claims that result in a lower or even higher amount the average payment protection insurance claim is rising slowly alongside the number of claims that are being made. The range in the size of claims is also expanding as the claims continue to get bigger and bigger! As larger claims are being reported by clients and shared amongst peers more and more people are looking into making a payment protection insurance claim!

The average claims figures were from the clients of http://www.ppiclaimsmanagement.org/, the majority of which were making a claim on more than one payment protection insurance policy. Of course this does mean that figures may be slightly higher than what a client might receive from a single claim and to avoid disappointment anyone thinking about making a potential claim can discuss their policies with the expert team before they decide to proceed.

Payment protection insurance can be found on loans, credit cards and less commonly mortgages, as many people have multiple credit accounts along these lines such as several credit cards the amount of compensation which can be claimed can quickly add up.

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Dr M Mansoor Siddique
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