Legal Expenses Insurance for Contractors
Legal expenses insurance covers the cost of taking or defending an action in law.
For example a third party might sue you in an attempt to secure compensation; legal expenses insurance would cover a portion of the costs of legal advice including solicitor's fees and court costs.
In another scenario you may need to take action to recover debt or defend your proprietary right to some intellectual property. Legal expenses insurance would assist with the cost of this type of action.
Working as a freelancer insurance against unforeseen legal expenses can allow you to avoid significant costs that otherwise would significantly reduce your annual profits.
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