What does legal cover protect me against?
There are many insured events that are covered under legal protection, including employee disputes, damage to premises, taxation proceedings, criminal prosecution defence, commercial tenancy agreements and even jury service. Court expenses and compensation awards can be extremely costly, so having legal cover included as standard is a definite bonus for protecting your business.
Do I have to have legal cover?
Whilst legal cover is not required by law, it is a valuable safeguard against unexpected legal proceedings against you. Any business at any time could be subject to legal prosecution and costs can rise rapidly. This can be included as an additional extra, or may be included as standard with your business insurance policy.
What level of cover do I need?
The level of cover offered is usually a standard limit, or you may be offered a choice. Typically, you would be offered a limit and this will usually be the limit in any one period of insurance. Depending on the size of your business and whether the products or services you supply could be considered ‘high risk’, you may then be able to choose a higher or lower limit to suit your trading activities.