Can I get PPI from my lender?

Yes, but that doesn't mean you should. Lenders advertise loan costs by quoting interest rates, yet this doesn't include the insurance cost, allowing some to play a sneaky trick. They keep the loan cheap, and load all their costs on the insurance. This way they can advertise cheap rates, but push unsuspecting customers to take out the expensive insurance.

Worse still, unless you specifically request a loan without PPI, some sign you up automatically, so it's possible to have PPI without even realising it. This hidden insurance cost makes a big difference. Take this example at the time of writing.

PPI - An Example Of How Just How Expensive It Can Be

At the time of writing (it will change this is just an example to show you):

If you borrow £10,000 over 5 years from the AA at a low 6% rate, it'll cost just under £195 a month, but with PPI it'd be just over £260, meaning the insurance adds £65 a month or £3,900 over the life of the loan.

Whereas Leeds Building Society's insured loan advertises a higher rate of 6.9% but has much cheaper insurance; it comes in at £220 a month - therefore its PPI adds just £23 monthly or £1380 over the loan's life.