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Car Insurance - Legal Protection - Yes or No
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FirstTimer4Me
Posts: 1,079 Forumite
I have noticed on several occasions, legal protection is NOT recommended when renewing car insurance.
Why is that, I would have thought legal protection was a definite advantage.
Could someone please explain?
Thanks in advance
Why is that, I would have thought legal protection was a definite advantage.
Could someone please explain?
Thanks in advance
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Comments
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This is something I have always wondered about as well. I'm sure 'legal' cover has become an optional extra which used to be covered as part of insurance to make companies more money. I imagine its another one of those "I'll probably never use it but for the £25-30 its probably worth paying for piece of mind" things. About to renew my insurance and I'm umming and arring about whether to pay for the optional legal assistance. Any help would be appreciated0
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This is something I have always wondered about as well. I'm sure 'legal' cover has become an optional extra which used to be covered as part of insurance to make companies more money. I imagine its another one of those "I'll probably never use it but for the £25-30 its probably worth paying for piece of mind" things. About to renew my insurance and I'm umming and arring about whether to pay for the optional legal assistance. Any help would be appreciated
me too! id like same advice0 -
And me !
Stefano0 -
I always consider it a must have as it proves so useful in the event of a claim. Otherwise you have to do everythng yourself or appoint your own solicitors to handle your claim and in the case of "at fault" claims, you would have to cover all the costs of the solicitor yourself.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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Worth thinking about in terms of how happy would you be to set about recovering your excess and any other uninsured losses should you be the victim of an accident. LEI will cover you for this. It is certainly a profit opportunity for the insurer but the real question is...does it have value for you versus your time, your expertise etc etc?0
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My other half is a barrister (a junior so we aren't rich!!) and does a fair few court cases where there is a dispute over who is to blame.
LEI insurance will pay for barrister's fees, the solicitor's fees and any expert witnesses who may be needed.
If you win the other side will pay for most, but if you loose you can get ready for a bill anywhere from about £500 upwards, assuming that your insurance company won't pay.
FYI we have it on both our cars and the house insurance.0 -
Does it make a difference if you go for comp or 3rd party insurance?0
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