Are you currently tackling a troublesome insurance dispute and are worried about the potential legal fees involved? If so, you might want to consider one of Legal Cost Finance’s convenient payment plans. With a payment plan from Legal Cost Finance, you can get access to quality legal representation which could mean the difference between a successful insurance claim, and a financial disaster. In the challenging sphere of insurance disputes, you want the best possible representation and our payment plans allow exactly that. Start with your own payment plan today, contact our finance specialists on 020 3376 1888.
Which legal loan is right for my insurance dispute?
You could be about to approach an insurance dispute without the assets to back it up, creating a situation where you might be unable to afford your solicitor’s legal fees. If this situation reflects your own, then you should talk to one of our legal finance experts about our payment plans. With one, you can get a comprehensive legal loan that allows access to the legal representation you require. You can rest assured knowing that Legal Cost Finance will pay your lawyer’s legal fees in full and on time.
Ask about our LawPlan Classic payment solution for example; it is designed to give you a quality legal loan without the need for significant assets. It also comes with a cost-neutral repayment solution, making it a great option for people without the funds to afford their lawyer’s legal fees. LawPlan Classic is an unsecured loan facility of up to £25,000, procured by a specialist FCA regulated credit broker.
We also offer payment plans specifically tailored to people with the assets to pay for a lawyer, but who would also prefer to avoid paying large sums up front from their own pockets. LawPlan Prime is a perfect example of this, a best of both worlds deal that suits private individuals and small businesses who have the means to pay their legal costs. With LawPlan Prime you can get an easily repayable loan that enables you to cover you lawyer’s legal fees with ease. As long as you have either real estate or another form of asset (e.g. car, shares, wine collection etc.), then you can secure the underlying legal loan and get the representation you require. Contact a member of our team today on 020 3376 1888 and find our how to start your payment plan.
It is important to remember that in in the world of insurance disputes, quality legal representation is essential because of the potentially huge sums of money involved. Even if it is ‘only’ a minor claim you feel shouldn’t have been refused, getting legal representation is still the best way to tackle an insurance dispute. This is because most large insurance companies care more about keeping your money than paying it back to you through ‘inconvenient’ insurance claims. It might sound like an exercise in cynicism, but at the end of the day that’s how insurance companies make their money! For more information on contesting an insurance claim refusal, speak to our experts on the number above.
What is an insurance dispute?
An insurance dispute is, in a nutshell, the fallout from an unsuccessful insurance claim. As an individual, you might have lost possessions in a property related incident, or had a car break down unexpectedly. As a business, an insurance claim refusal could mean a significant loss of revenue, leading to staff cuts or even financial collapse. Either way, when an insurance dispute arises, you will need to make sure you take the right steps, the first of which should be seeking legal assistance.
Why is insurance so important?
Far too many individuals and businesses underestimate the power of insurance. Whether it’s keeping the ball rolling at a successful organisation, or giving homeowners peace of mind, insurance is an invaluable part of many lives. That is why so many turn to legal aid when their insurance is invalidated, because it is a fact of life that insurance is something we simply cannot do without. So many aspects of our lives are protected by insurance, making it imperative to be aware of what you should do when an insurance dispute arises.
What do to if your insurance claim is rejected
Having an insurance claim be rejected is an immensely frustrating experience. It can place a burden on an individual’s wellbeing and send their stress levels through the roof; or it can severely limit a business’ ability to make new deals and expand. Knowing what steps to take when facing an insurance dispute can save you a lot of hassle, and give you the confidence to approach any insurance dispute without fear.
Step One – Find the reason behind your insurance rejection
Contesting an insurance refusal starts with first learning why your claim was rejected. This should give you a clearer indication as to whether or not you can contest the refusal; chances are you might have simply missed a clause in the insurance guarantee. Common reasons for an insurance claim refusal include:
- The policy you took out does not cover your presented claim
- The payout limit goes beyond the limits covered by the policy
- Your insurance policy’s cover has lapsed and is no longer valid.
If these aren’t applicable to you and you still feel that your insurance claim should have been accepted, then it’s time to begin the process of disputing the decision.
Step Two – Challenge the refusal
Businesses and individuals have the right to dispute an insurance claim refusal if they feel the reason for refusal doesn’t match the facts of the claim. As insurance disputes can be challenging processes, we highly recommend working with a talented solicitor who can best represent your interests. Working to contest an insurance claim refusal is entirely possibly by yourself, but without a background in law you’re likely to miss key details that could change the outcome of a challenge.
When the decision has been made to dispute the insurance claim refusal, you and your solicitor will need to work together to:
- Provide the insurer with documentation and evidence that supports your reasoning
- Explain your claim as clearly as you can, detailing why you believe your claim should not have been refused
- Get an independent assessment. For example, this is important if the insurer is claiming damage caused (perhaps to a building) was a result of normal ‘wear and tear’
In the event that insurer still rejects your insurance claim, you could turn to the Financial Ombudsman Service. Be aware that you can only do this after a period of eight weeks have passed without a response from the insurer, or if you have received what is known as a ‘final response’ from them.
As an independent, free service, the Finance Ombudsman Service works to investigate complaints from individuals (such as yourself) about financial companies. After taking your complaint to them they will, consider each side and search for a fair outcome based on facts. If it is found that the insurance company wrongly rejected your claim, the Financial Ombudsman Service has the power to make the insurance company:
- Explain why they refused your claim
- Apologise to you or your business (or both)
- Pay the compensation required and/or take the right steps to change the outcome.
The decision made by the Financial Ombudsman Service is final and absolute; there is no way the insurance company can turn around and challenge it. You can learn more about submitting a complaint on the Financial Ombudsman Service website.
Your insurance dispute case could involve significant legal fees and court appearances. If you are worried about the costs involved with challenging an insurance claim refusal, you should consider one of our convenient payment plans. Speak with our legal finance experts on 020 3376 1888 today for more information on our payment plans and how we can help your legal case.
Go forward with confidence. Payment plans relieve the burden of legal costs.
We provide payment plans to cover your legal costs, so you or your business can get the legal support you require – without the need for large up front payments.
Your legal process can involve negotiation, litigation or alternative dispute resolution (such as arbitration or mediation).
We will connect you with a lawyer who specialises in insurance matters and who is right for your individual circumstances. If you have already appointed a lawyer, we can still offer you a payment plan solution and will make all the necessary arrangements with your lawyer on your behalf.
How can we help?
We have a team of dedicated case managers who will guide you through your legal journey and ensure you’re not wasting money on legal costs and making the right strategic decisions.
Click here to get in touch or call 020 3376 1888