Legal expenses insurance for small businesses
Your small business is incredibly important to you so you probably already have great insurance in place like product liability or stock insurance. Did you know you can stop worrying about small business emergencies and focus on growing your business by adding some other types of insurance, like legal expenses insurance?
For small business owners like you, legal expenses insurance can provide valuable protection against unexpected legal costs and give you access to legal advice and representation when needed.
Lukango has partnered with Markel Direct, who underwrite and administer the policies, to offer specialist legal expenses insurance designed for small businesses.
Find out more about small business legal expenses insurance below, or click here to get a quote:
Legal expenses insurance can protect you against the cost of compensation caused by
Debt recovery
Compliance issues or tax investigations
What is legal expenses insurance?
Having any kind of legal dispute can be costly and can quickly add up to thousands of pounds if there is a court case (yikes). Legal expenses insurance covers the costs associated with legal disputes including advice and representation, help with court fees and lawyer fees. Legal expenses insurance can protect you from legal expenses costs caused by:
- Employment disputes like wrongful dismissal or discrimination
- Contract disputes like breach of contract and supply or sale of faulty goods or services
- Debt recovery for things like unpaid invoices
- Intellectual property disputes such as trademark or patent infringement
- Regulatory compliance issues like health and safety, data protection
- Property disputes for things like lease or rent disagreements
- Tax investigations by HM Revenue & Customs (HMRC)
Get legal expenses insurance for your small business from our insurance partner Markel Direct and:
- Get tailored quotes in minutes
- Get covered and all your documents the same day
- UK-based expert support, online and on the phone
Do I need legal expenses insurance cover?
Legal disputes can arise in a range of business situations, regardless of the type of work a business carries out. Legal expenses insurance is a type of cover that is designed to respond to certain legal costs and expenses associated with specified disputes, depending on the terms and conditions of the policy. In some cases, this type of insurance may include access to legal advice or representation.
Frequently asked questions about Legal Expenses
- What types of legal disputes does legal expenses insurance cover?
Legal expenses insurance can cover a range of legal disputes, including employment disputes, contract disputes, tax disputes, and property disputes. The specific coverage will depend on the policy and the insurance provider.
- What is the limit of indemnity for legal expenses insurance?
The limit of indemnity for legal expenses insurance varies depending on the policy and the insurance provider. Read the policy limits carefully, you want to make sure that the policy limits are enough to cover potential legal costs.
- What is the excess for legal expenses insurance?
The excess is the portion of the legal costs that you will have to pay out of pocket before the insurance coverage kicks in. The amount of the excess will depend on the policy and the insurance provider (a bit like car insurance excess).
- What is excluded from legal expenses insurance coverage?
Legal expenses insurance policies may have some exclusions, such as intentional or criminal acts. It is important to carefully review the policy exclusions to understand what is not covered.
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