Julian Hall of AXA Insurance asks you to test your knowledge on legal expenses insurance
Legal advice costs can be very expensive and so is starting a court action to support your rights.With the demise of legal aid for the majority of civil,that is, non-criminal, legal disputes, it has become increasingly difficult to avoid incurring great expense if you become involved in a legal action or dispute.
Legal expenses insurance provides cover for the costs of taking certain types of legal action and can therefore provide an affordable way of funding such action if the circumstances arise. It also provides cover for the other parties' legal costs if you lose your casei and you are obliged to pay these. There are many types of legal expenses cover available in the market both for the private individual and for businesses.
On many occasions cover can be purchased as a low cost add-on to a household or motor policy. Some insurers even include it as part of the standard policy and do not charge any additional premium. It is also possible to buy independent stand-alone policies.
Cover is often underwritten by specialist legal expenses insurers and, if bought as part of a motor or household policy, it is common to find that the legal expenses section is underwritten by a different insurer to the rest of the policy.
The majority of legal expenses policies provide cover on the basis that an event or incident might occur in the "future", that is, after the policy has been purchased and thus a "claim" might arise.
However, some policies can be purchased after-the-event (ATE) has occurred. ATE legal expenses insurance is usually much more expensive.
Whether the policy is a traditional cover (also known as "before the event" cover) or an "after the event" policy, any claim will be subject to the terms and conditions of the policy and each will be decided on its own merit.
Some claims will be accepted under the terms of the policy and others will not be permissible. No claim is guaranteed to be accepted.
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