What Is PPI Auto Insurance? 
PPI is ` Payment Protection Insurance ' . In addition to vehicle purchases , PPI is also purchased in mortgage and some credit situations . It ensures repayment of loans for the policyholder , in the event of illness , death , disability and unemployment . Generally , when the policyholder is unable to earn , for documented reasons like those stated above , the insuring company chosen makes payments to the lender , usually for a specific period of time . Additionally , there is usually a waiting period associated with the coverage , before payments will begin . PPI is often referred to as ` credit insurance ' . 