Covid 19 Status

In line with HM Government requirements to fight the spread of Covid-19 we have measures in place to ensure that we protect our staff, their families and the wider community, but also to ensure that there is minimal disruption to our customers.

Your access to online Multi Agency Credit Reports, Expert Help and Account Management remains unaffected. We take great pride in the support that we provide to our customers and throughout this period will do all we can to minimise the impact on our services. While the country remains in lockdown we will continue to support your queries via a dedicated and experienced team that will be securely working from home, and supported by a Management Team that will continue to be based at our head office and who will be able to provide customer support as required.

The security measures that we have in place to protect your Personal Data, in line with our Privacy Policy, will mean that some elements of our personalised support are affected during this period as our support team will be working with anonymised data when working remotely. Freephone access to our Credit Analysts has been removed during this period while we focus our efforts on continuing to reply to all of your emails and secure messages within one working day.

Thanks for your understanding, and we hope to have full customer support available as soon as possible and wish you well during these challenging times.

Accident Sickness And Unemployment Insurance

What is Accident Sickness and Unemployment Insurance?

Accident Sickness and Unemployment cover is a form of Payment Protection Insurance (more commonly known as PPI) is an optional ‘add-on’, which has been known to add as much as 15-25% to the cost of monthly repayments.

The benefit of taking up Accident Sickness and Unemployment insurance is that if any of the events stated in the name happen during the course of the insurance, (such as an accident or illness that prevents you from earning enough to make repayments, or if you are made redundant), then the insurer will pay some of your loan repayments. Most plans or policies do not provide cover on death of the policyholder.

Many policyholders who try to claim often find their claims rejected, or find that the cover provided is much less than they thought.

What people don't often realise

Sometimes, accident sickness and unemployment cover does not kick in until after a set period – usually either one month or three months – and this is known as a Wait Period. This means that for many, by the time the insurer pays out, your mortgage or loan is already in arrears.

The cover offered is usually only short term, only lasting for 12 months in most instances.

Many accident sickness and unemployment insurers do not cover self-employed people.

By law, the chances of you obtaining a loan or a mortgage do not increase by taking out accident sickness and unemployment insurance.

Before you think about taking out accident sickness and employment insurance, you should ask the lender to show you the cost of credit with and without the insurance so you can decide for yourself it it is worth the addition cost.

The commission rates on accident sickness and unemployment insurance paid to lenders are very high – sometimes as much as 50% of the premium. Some lenders make more from their commissions on this insurance than they do from the interest margin, which in part explains why mis-selling PPI was widespread for so long.

There are often several exclusions in the policy itself which will stop an insurer from paying out. It is vital that if you take out this cover, you make sure you are happy with the wording.

Wider criticisms

In December 2000 the Citizens Advice Bureau criticised Accident Sickness and Unemployment insurance in a report entitled ‘Daylight Robbery’. The CAB subsequently lodged a super-complaint to the Office of Fair Trading which labelled its response with the title ‘Protection Racket’.

The Competition Commission instigated an investigation and banned lenders from selling the insurance for a period.

The Consumers’ Association, publishers of Which? magazine, has also criticised the mis-selling and cover provided by accident sickness and unemployment insurance.

According to the Financial Services Authority, this is the most complained about product of all.


Income Protection Cover is not loan specific and can be more flexible, but most of the above issues also arise.

Jargon Buster

Use the links below and the resulting list of terms on the right to locate the term you are looking for. If you can't locate it, please get in touch.