Claiming on your Pet Business Insurance policy is usually pretty straightforward, you tell us your issue, the correct documentation is completed, you get your claim paid.
But what happens if you need to take somebody to court or there is a dispute between you and the another party?
Unless you have some legal expenses protection as part of your insurance cover, you would have to pay all those legal costs.
Do I Need Legal Expenses Cover?
At first glance, legal cover may seem a bit dramatic, but legal costs can very quickly become hugely expensive, so PBI has automatically included Legal Expenses Cover in every new and renewal policy since 1st November 2016.
The Federation of Small Businesses estimated that £11.6 BILLION is spent settling small business claims every year so the typical PBI legal expenses policy covers you for up to £100,000 in legal costs and expenses, and up to an aggregate of £1,000,000 for employment compensation awards.
The PBI Legal Expenses Policy includes things like:
- Solicitors and legal adviser costs
- Loss of earnings due to court attendance
- Costs incurred from tax and/or professional bodies investigations in to your business
- Legal defence for a driving, health and safety, or criminal case
- Employee disputes
- Statutory licence appeals
- Property damage and nuisance disputes
It also covers the recovery of individual undisputed debts of over £200, and gives access to a Crisis Communication helpline to assist you in managing any adverse media and public relations situations for your business.