Legal insurance can provide coverage for a broad range of legal issues, which might span from simple traffic tickets to adoption assistance or disputes with contractors — and many things in between. Here are some of the common uses for legal insurance:
*Consumer Protection Family
Auto repair Buy or sell a car Adoption Consumer fraud Guardianship/conservatorship
Consumer protection for goods or services Name change
Home improvement Pet-related matters
Personal property disputes Divorce
Small claims court
Criminal Matters Landlord/Tenant Issues
Juvenile Contracts/lease agreements
Parental responsibility Security deposit Disputes
Eviction
Debt-Related Matters
Debt collection Real Estate
Garnishments Buying/Selling a home
Personal bankruptcy Deeds
Student loan debt Foreclosure
Contractor issues
Driving Matters Neighbor disputes License suspension/revocation Promissory notes
Traffic tickets Real estate disputes
Tax Issues IRS Wills & Estate Planning
tax audit Powers of attorney
IRS tax collection Living will
Will
Small Business (tax deductible) Trust Debt collection
Contract Review Contract drafting Letter or phone response on behalf of the business
Business compliance Lawyer Consultation
It’s important to know what legal insurance covers and what it doesn’t cover in order to make the best use of it when you purchase it.
Who Should Get Legal Insurance?
Purchasing legal insurance can be an affordable way to reduce legal costs when you do need a lawyer’s help. When you do need an attorney, the cost can be hundreds of dollars per hour and legal fees can add up quickly. Unlike car insurance, you do not have to wait for something to go wrong in order to use it. The user can take a PRO-Active approach when it comes to protection and/or legal matters. If your goal is to provide general consumer protection and contract assistance, a legal insurance plan can be a great value with most plans priced under $1 per day.
With fraud at an all time high, shiesty sales agents, and complicated contracts, it would be nice to have a lawyer in your corner. On the Financial aspect, you save HUNDREDS of dollars with estate planning. For business owners, you have liability protection and legal defense. But it is important to understand that Legal Insurance is not the end all. It gives you affordable access to the most common things, and may give you a discount on the bigger legal issues, such as trial defense.
How much does it cost?
Legal insurance costs less than most life insurance policies and much less than home or auto insurance. Plan costs range from about $0.50 per day up to about $1 per day for most plans. The average household spends much more each month on coffee or cable television than the cost of a legal insurance plan, which paints the cost of legal insurance in a different light. View legal insurance for what it is: a limited insurance policy that will cover many legal needs — but maybe not all. If you only use your coverage once, the coverage may have paid for itself in savings.
Also, it is important to realize that a monthly premium will not cover the legal expenses that comes with legal representation. The monthly cost gives you access to consultation and coverages outlined by the legal insurance. Some plans have deductibles. Other plans give you an employee discount off attorney fees once retained. Some are only offered as an employee benefit. At the end of the day, protection and representation is worth having in today's world.
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