Business legal expenses insurance FAQs
What is commercial legal expenses insurance?
Commercial legal expenses insurance, sometimes referred to as business legal expenses insurance, offers cover against the costs in taking legal action against a third party or defending yourself against legal action in relation to your business. Any business could be subject to legal prosecution at any time, and court expenses can sometimes generate unexpected high costs. Business legal expenses insurance can protect your business against these high costs in the event that you are taken to court. It also covers any compensation awarded as a result.
What does business legal expenses insurance protect against?
There are many insured events that are covered under business legal expenses insurance, including amongst others:
Do I have to have commercial legal expenses insurance?
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.
How much does business legal expenses insurance cost?
Typically, the cost of business legal expenses insurance will vary depending upon a number of factors, such as:
To find out how much commercial legal expenses insurance will cost, our expert advisors are on-hand to discuss your requirements and can compare quotes from many trustTo find out how much commercial legal expenses insurance will cost, our expert advisors are on-hand to discuss your requirements and can compare quotes from many trusted business insurers.
Business legal expenses insurance with Premierline
At Premierline, we understand the many risks business owners face. Speak to one of our experienced advisors for expert advice and recommendations today.ed business insurers.