Legal Expenses Insurance
Shield your business against the costs of a commercial dispute with our legal expenses insurance
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What is legal expenses insurance?
Legal expenses insurance covers the costs of defending your business in a legal case. As a sole trader or business owner, you could face unexpected legal hurdles, such as employee disputes or tax investigations, at any time, even if you’ve done nothing wrong. The expenses associated with this could wreak havoc on your company’s bottom line. But you needn’t worry, as Tradesman Saver can take care of any legal fees for you, such as lawyer and court expenses, witness costs, expert fees, and translation expenses.
Why do you need legal expenses insurance?
Regardless of how carefully you run your business, you may still require legal help at some point. The business world is fraught with dangers, and it’s easy to be caught out by the huge amount of legislation governing companies today, especially complicated tax laws. An in-house legal team is too expensive for many companies, which is why our commercial legal expenses insurance cover could be the safest, most cost-effective precaution. This protects you against all legal issues your company might face, including VAT appeals, property disputes, and compliance and regulatory matters, such as health and safety. With employment tribunals costing employers on average of £8,500, our legal expenses insurance means your business will never have to suffer because of costly cases. Click the button below to create a tailored legal expenses insurance quote.
Tradesman Saver’s Legal Expenses Cover
Our standard cover is:
- Up to £250,000 for legal costs and expenses
- A legal helpline which is open 24/7
- A tax helpline that is manned by tax experts during office hours
- Business legal services online to help you build and download legal documents relating to your business, such as employment contracts and health and safety policies
- A confidential staff counselling helpline
Our legal expenses insurance is automatically activated from the moment you purchase your Tradesman Saver policy. This covers fees with an indemnity limit of £250,000. However, you can only use legal expenses insurance to cover the costs of protecting yourself legally, and not for the expenses of making a claim against somebody else. Furthermore, it does not provide protection should a client make a claim against you. But, as we don’t believe in offering stand-alone legal expenses insurance, our policy comes with four other automatic covers that offer just this. As part of this, you will receive products liability insurance, protecting you if any somebody sustains an injury from your products, as well as public liability insurance, which safeguards your business if you injure a customer or member of the public. In addition, our standard policy insures you against financial losses inflicted on third parties and accidental death if you or any of your employees are killed.
To give your business the most comprehensive protection, you may want to take out some optional covers on top of our five-part automatic cover. For instance, our professional indemnity insurance protects you if somebody files a lawsuit against your company for a mistake it has made, such as offering poor financial advice or delivering substandard services. This provides you with up to £50,000 cover. You might also be interested in employers liability insurance, which is mandatory by law should you employ staff, or personal accident cover, which gives you financial support if you’re unable to work.
We like to keep things simple. Your quote, purchase, and documents are all available online whenever you need to access them.
Your policy comes into effect from the moment you purchase personal insurance cover with us, so there’s no need to wait for documents to arrive.
Products liability, financial loss, and accidental death are all covered as standard on every policy.
Cashflow is important to every business, which is why you can spread the cost of your personal injury insurance with easy, monthly payments.
Legal Expenses Insurance
Legal Expenses Insurance: Frequently Asked Questions
How much does legal expenses insurance cost?
Our legal expenses insurance in included in all of our insurance packages which start from £53, though the overall cost depends on various factors. For instance, you might want to take out some optional covers in addition to our standard package. However, when you consider solicitors can easily cost £200 + VAT for every hour they advise you, our Legal Expenses Insurance could save you a small fortune.
Is legal expenses insurance worth it?
Our legal expenses insurance ensures you aren’t burdened with huge legal costs if somebody brings a claim against you. You won’t have to pay any solicitors fees or obtain legal aid either, which is often difficult to secure. Additionally, we offer 24-hour legal advice helplines to our customers, which is extremely useful for clarifying points of law. This insight may even help prevent legal action being taken against you in the first place.
Why do you offer legal expenses insurance as standard when other insurance companies don’t?
Here at Tradesman Saver, we believe in offering our customers a complete insurance package, and legal expenses cover is an integral business insurance requirement for the reasons listed above.
What is “reasonable prospect of success” and why does this matter when I claim with my legal expenses insurance?
Your legal case will probably be assessed by a lawyer to determine its likelihood of success in court. This is called “reasonable prospects of success” and is a fairly standard part of the legal process. The initial “prospects of success” can change throughout the case as more evidence comes to light, but as long as your lawyer believes you’re more likely to win than lose, your insurance broker will still cover the fees. That said, it’s important to be aware that “reasonable prospects of success” doesn’t apply in all instances, such as criminal cases.
Can I claim for a dispute which started before I bought my legal insurances policy?
Unfortunately, no. Our legal expenses cover only protects you for disputes after the policy start date. This includes employment-related cases, where you may require legal assistance after buying the policy, but are unable to if the dispute has already begun.
Why do you need legal expenses insurance?
As a sole trader or small business owner, you may not have access to legal expertise whenever you may need it. Where would you turn if you had a legal dispute or a member of staff wanted to take you to a tribunal? Solicitors can costs upwards of £200 per hour so it could be a costly exercise in getting the legal advice you need. Without legal expenses insurance, you would need to meet the costs of this legal advice yourself.
With Tradesman Saver we provide legal expenses insurance as standard on EVERY policy.
Fantastic and very quick thank you
quick easy to set up and good value- was recommended by another tradesman
Easy to get quote & pay, which was good,hopefully won’t find out if they are any good at claims