Legal expenses insurance can help fund unexpected legal disputes with contractors, neighbours and employees. RMC budgets are always tightly managed
and there may be little scope to fund unexpected events such as legal disputes with contractors, neighbours or employees.
Then there are the hidden costs that are often forgotten, such as the disruption to daily life if you have to seek legal advice or attend court. Failure to act quickly can prejudice your position and result in you losing a dispute by default, which can also be the case if you can’t afford to pay for legal costs yourself.
If you have legal expenses insurance* in place, this need not be the case. It also provides 24/7 legal advice, so you can request information at a time that is convenient for you. And if the dispute escalates it may pay the legal costs too.
Where funds are limited, how will you pay for legal advice or defend an unexpected dispute with your neighbours, a supplier or even an employee?
Then there are costs that are often forgotten, such as the stress and disruption to your life if you have to seek legal advice and attend court. Failure to act quickly could prejudice your position and result in you losing a dispute by default, or being out-gunned by someone with deeper pockets.
If you have legal expenses insurance in place, designed for Residential Management Companies, this need not be the case. It also provides 24/7 legal advice, so you can request information at a time that is convenient for you. And if the dispute escalates in many cases it will meet the legal costs too.
The policy will provide you with the following*:
For a copy of our guide to legal expenses insurance, the cover the policy* provides and examples of how the cover could benefit you, click here.
* For full terms and conditions please refer to the policy wording available on request. Change to read: A broad range of protection is provided to you, including advice at a time that is convenient to you and insurance against legal costs to pursue cases where necessary. As with all insurance policies, the policy is subject to limits, conditions and exclusions. For more information please contact us to discuss further, or request a full summary of the cover or the full policy terms and conditions. For this type of insurance it is particularly important to note that legal advice and the insurer’s consent to costs must be sought as soon as you identify a possible problem and before you incur any costs, failure to do so will invalidate a claim.