Sometimes in business you need to take a stand. But how easy would it be for you to absorb legal costs if a disagreement headed for the courts? Legal expenses insurance can help your business with legal costs.
Disagreements and disputes, while rare, do happen from time to time, unfortunately. Legal expenses insurance protects you from the unknowns. It’s there in case you end up in a dispute that you’re pretty sure isn’t your fault, but that you need help to understand and investigate to clear your name; a bit like having a legal team at your side, but without the whopping salaries. When a situation escalates and heads for the courts, it can mean facing up to sizeable legal fees.
Too often owners of small businesses, and especially shops, feel they lack the financial muscle to properly pursue a claim, even when it may be the only option on the table and your livelihood depends on it. Legal expenses insurance protects your business if it becomes embroiled in a dispute such as a tax investigation or employment tribunal. It protects you from claims where it’s more than likely not your fault, which makes it different to professional indemnity insurance. And quite a bit cheaper too.
When you add legal fees insurance, you’re also entitled to help with contract disputes, lost income back if you did jury service, tax investigations and debt recovery. You can even take advantage of a 24 hour, 365 day legal helpline with many of our insurers with advice and guidance on all business legal matters.