legal insurance

iacoho

hi
is it wise to scrap legal insurance in favour of the chance its needed you go to the no win no fee solicitors

lisyloo

I suggest you read this thread.

http://forums.moneysavingexpert.com/showthread.html?t=1442055

As long as you're careful to read what you sign up to with people like the above.
But be aware that you may have to pay some up front costs with "no-win no fee" and be careful to check what costs you are exposed to.
My MIL had to pay "disbursements" herself (whatever that is) and I am certain that her contract exposed her to losses, so I would urge you to be careful.
On the other hand you could pay £20 or so and not find yourself in a situation where you are exposed to big bills.
Your choice.
Personally I think for most people there are other areas of their budget where they could save more money with a lot less sacrifice.

LadyIndecisive

lisyloo - that has reminded me of something important on that other thread and I have re-posted!

OP - as lisyloo says and in my opinion it is usually worthwhile to take out the legal cover for the nominal sum involved. This is what I would say to friends and family. If you have a non-fault accident with a minimal uninsured loss claim it's unlikely a 'no win no fee' firm will take your claim, unless you wish to claim injury as this is where they make their £ from.

lisyloo

You just reminded me of something too :-)

A few years ago my FIL hit a pedestrian in his car (pedestrian ran out in front of the car whilst training racing greyhounds).
Anyway my FIL had to pay a £120 excess on his insurance.
Eventually he got this back because he had legal cover.
The insurer paid it directly rather than pursuing the 3rd party as the recovery costs would probably exceed the payout.
However he would not have got this payout if he had not had legal cover for "uninsured losses".
A "no win no fee" company will not be interested in claiming £120 from a pedestrian on your behalf, they are only interested in claims that make them money (such as personal injury cases), so this is an anecdotal example of where "no win no fee" won't fit the bill.

geri1965_2

Disbursements means paying for things needed to pursue the claim - medical report etc. which is normally £400 or so, plus the cost of the notes.

I have legal expenses cover because I'm a cyclist and therefore at risk of having an accident.

mrsthrifty_2

Like other posters have said I would rather save money in another direction than go without the legal cover for the small price it costs you.

My OH and I have never needed to use it but my 19 year old was involved in an accident 2 weeks ago and the Solicitor appointed by his Insurance company has been brilliant ....... a small price to pay for someone to deal with the legality and complications for you