Why it makes sense to purchase legal expenses insurance
When taking out residential or commercial insurance, legal expenses is one aspect of cover that should not be overlooked. Legal expenses contracts fund the costs associated with legal and/or the costs of defending or initiating a court case. Legal expenses insurance can be purchased before an event happens as a precaution so that the policyholder is covered if an incident arises where they need legal expenses paid for. Alternatively, it can be bought after an event, where the policyholder has decided to defend or initiate legal action and takes out insurance against the risk of losing and being forced to pay the other party’s costs.
Some of the most common needs for legal expenses is to cover the legal proceedings incurred from the insured home or commercial premises, such as damage or nuisance caused by trespassers and squatters.
As well as providing insurance coverage against the expenses sustained when the policyholder needs to seek legal advice to pay for a lawsuit, legal expenses contracts can include cover for employment disputes, personal injury and even contracts related to buying or selling a property.
Not all residential and commercial insurance contracts include legal expenses cover.
Nelson Policies at Lloyd’s has released a before the event legal expenses contract which can be added onto residential and commercial insurance contracts.
Solicitors don’t come cheap and our legal expenses cover is designed to help protect the legal rights and cover the law-related costs for residential and commercial property owners.
By taking out Nelson Policies at Lloyd’s residential and commercial insurance with legal expenses cover, policyholders can maximise their insurance cover, giving them peace of mind if they do get into legal battles.
To learn more about our residential and commercial insurance with legal expenses cover, get in touch with Nelson Policies at Lloyd’s friendly team of insurance experts.Back to Blog
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