How to Avoid Expensive Legal Fees in Business..
If you’ve been involved in litigation then you know how costly it can be.
There is, however, a solution to expensive litigation via Legal Expenses Insurance.
This is simply an annual insurance policy that you can buy separately or in conjunction with your Business Insurance and is relatively inexpensive starting from about £50 to £100 per annum for basic cover.
Typically the cover limits are between £50,000 and £100,000 per policy year.
However, it does not cover every possible type of litigation but is generally focused on the following areas:
- Landlord / Tenant Disputes
- HMRC Investigations
- Employer/Employee Disputes
- Contractual Disputes
The policy also provides Legal Helplines for advice and can also appoint solicitors on your behalf to represent you (either to pursue or defend a claim). It must, however, have a ‘reasonable prospect of success’ before the case can be taken on.
From the writer’s perspective, this type of cover is invaluable. It has been utilised three times in the last ten years successfully and saved, literally, thousands of pounds in legal fees.
If you need any advice on this matter, please call 0207 731 3700 or drop us an email.