Legal Expense Insurance (LEI) is an additional type of insurance that a lot of insurance companies will try to sell you on top of your existing insurance policy. This insurance guarantees that the company in question will pay your legal fees if you are unfortunate enough to become involved in an accident. This additional insurance fee usually sets you back an extra £15 to £20 a month.
What insurance companies forget to tell you is that if you do become involved in a car accident and it isn’t your fault then an injury law firm, such as the Injury Lawyers will retrieve you the compensation fees you deserve on a no win, no fee basis.
Some people live by the saying ‘if it sounds too good to be true, then it probably is’. However, that’s not always the case. Here at the Injury Lawyers we will get you the compensation you deserve and every penny of it will go to you. We don’t take cuts from your payment; we simply recover the costs from the other side.
When LEI companies try to sell you their insurance they appear to disregard companies like ourselves. For instance, say you’ve chosen to take up an LEI policy and became injured in a car accident that wasn’t your fault. You’ll then inform your insurance company and they’ll follow up your compensation claim.
It’s not as simple as that, you see the one thing that LEI companies forget to tell their clients is that they aren’t actually the ones who deal with your claim. On their database they’ll probably have a list of law firms who are willing to pay to take on peoples claims. They will then inform these law firms of your claim and sell it on to the highest bidder.
Not only does this mean that they are passing your personal details around a number of law firms, it also means that they are using this LEI policy as a way to make profit from your injuries. There are law firms that are willing to pay up to £800 to take on a claim. This means a huge profit for your insurance company.
Because the law firm handling your claim has already paid out a huge amount to take it on, they are running on strict funding resources. This means that they probably won’t be able to afford to put as much money and effort in, as an independent law firm would. This results in you receiving not only a poor service, but you probably won’t receive as much compensation because they don’t have the resources to fight for you claim.
LEI is an all for profit scam thought up by insurance companies to make money. As an independent law firm the Injury Lawyers believe that everyone should receive the compensation they deserve, and not simply be passed along a chain on lawyers to see who bids the highest for their claim.
If you have been offered LEI by your insurance company our only advice would be to turn it down. We’re in the middle of a recession so why pay out more money than need be, and what for, a poorer service.
Independent law firms like the Injury Lawyers will take on your injury compensation claim on a no win, no fee basis. Not only that but we’ll do everything possible to make sure you get the compensation we think you deserve. We’ll update you every 14 days to let you know what stage your claim is at, and assign you your own personal lawyer who will handle your case.
