Consumers are being left unprotected because of one-sided "appalling" view of PPI, a product provider has said.
Somerset-based First Call Payment Protection has warned that the negative perception of the industry received could be leaving people vulnerable in the volatile economic times.
Kevin Williams, managing director, said: "Consumers have seen so much appalling coverage about the mis-selling of products in the past that they are understandably wary of taking out PPI.
"There has been a lot of one-sided views of PPI, but unfortunately this has only highlighted the negative mis-selling scandal by banks, building societies and other financial institutions."
He added given the uncertain economy with unemployment still rising it was more important than ever that people seriously considered having appropriate protection in place.
Figures recently published by CreditAction.org.uk showed that every 15 minutes and 30 seconds a property was repossessed. And 1639 people a day were made redundant between April and June this year.
According to the Financial Services Authority (FSA), between January and June 2012, the total volume of complaints to all financial services firms increased by 59% to 3,577,599. PPI accounted for 62% of all these complaints.
Williams added: "Nowadays the industry is exceptionally well-regulated and those that tried to make a fast buck have been drummed out. Unfortunately, the industry's reputation has been tarnished and this has made people wary of the products.
"But this also means there are hundreds of thousands of people out there that would benefit from cover that do not have it."
