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Legal Expenses Insurance Explained
Introduction:
The type of insurance that is relevant here is what is known as ‘Legal Expenses Insurance’ (LEI). There are commonly 2 main types of policy the only main difference is when they are purchased.
The sole purpose of LEI is to cover an unsuccessful litigant for the legal expenses/fees that they might otherwise owe to the successful party.
Our panel solicitors are qualified to advise on all matters relating to LEI. None of the solicitors have any financial interest in the sale of any polices and will only advise you that you need to obtain one if it is deemed to be completely necessary.
Two Main Types of LEI Policy
ATE (After The Event) Insurance:
This type of insurance cover is purchased after an accident has occurred
and specifically for the purposes of the litigation being considered.
BTE (Before The Event) Insurance:
These policies can commonly be found as extensions to either motor or
home insurance policies.
It is therefore important to check which type of cover is most beneficial to you for the purposes of pursing a claim for accident or injury compensation.
How can I Afford to buy an Insurance policy?
It is no longer necessary for litigants to take out a bank loan to cover the cost of purchasing insurance cover. Our panel solicitors will advise fully in relation to the use of deferred premium. This means that you take no financial risk whatsoever.
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