pay for legal cover or covered by law

luci

Well I certainly intend to take this out when my current insurance(s) are up for renewal. I just hope I remember about it at the time

I take it there is no benefit in taking it out at the moment seeing as I have Legal Protection insurance with other companies?

dacouch

Its a great product that could take the market by storm, but there are to many vested interests and Insurers would make less money.

So in the words of a great philospher "I'm out"

lol

I would guess it adds in the very very high hundreds of millions at the prices they are charging for it at the moment eg £30.

My boss once told me that if you put the price of legal cover up more people would buy it as they perceive it to be more important the higher the price so we increased from £12.95 to £14.95 and we sold more. But £25 and £30 is really taking the biscuit especially as it saves the Insurer / Broker a lot of hassle if there is an accident

dacouch

Luci there is no harm in taking it out now, there is another advantage of payless's policy in that on the Household side they include cover for problems with building work and the sale of the home. For this cover to be effective on a Legal Policy you have to have the policy in place for upto 180 days before the problem occurs.

There are also exemption periods on the employment cover etc

So the average person who changes Home Insurer each year will probably not be covered. If you keep renewing Payless's policy you will have the continuity of cover you need.

luci

Many thanks. I think I shall take it out now. Better to have too much cover than not enough.

It has always irked me that you when you are sold LP with car insurance it only covers car related issues and likewise taking it out with contents insurance.

I have just recently renewed my contents insurance and took the LP with it.

dacouch

If your within the 14 days you may be able to cancel the Legal Cover and get a refund of its cost (Check to make sure they have no admin fees for this though).

If you keep renewing Payless's cover it would avoid any gaps in cover and its cheaper