Compare Legal Expense Insurance

You could save thousands of dollars by getting multiple legal expense insurance quotes and comparing prices.

Get up to three legal expense insurance quotes by answering a few questions

How to shop for your next legal expense insurance policy on Hardbacon

Comparing the prices of several insurers before choosing a legal expense insurance policy can generally save hundreds of dollars a year. Follow these 4 steps to get multiple quotes.

Tell us where you're located

The first step is to enter your province in the box on the left, then click on “Compare”. Your location will enable us to redirect you to the appropriate partner.

Tell us more about your business

The second step is to complete our partner’s form, which will begin by asking for the title of your profession, your gross revenue, the number of employees you have and your experience. It will also inquire about hiring exterior contractors.

Specify the risks involved

The third step is to answer questions about where you do business, if your work is related to industries such as cannabis, construction, petrochemicals, as well as other things you might do such as renting cars, visiting clients in their home, giving tax advice or conducting laboratory tests.

Finalize your request

The fourth and final step is to indicate your address, the proprietorship structure and the legal name of your business. At this stage, you will be able to choose if you want other protections on top of legal expense insurance. Once you submit your application, the quotes will appear on your screen.

Tips to save on your next legal expense insurance policy in Canada

Increase your deductible

The deductible is the amount you’ll need to pay in the event of a claim. Normally, by increasing your deductible, you’ll lower your premium. You’ll have to pay a little more when making a claim, but this strategy can pay off very well if you don’t make a lot of claims.

Reassess your needs

Having coverage tailored to the real risks facing your business will ensure that you pay an amount proportional to your actual needs. You can always modify the contract as your business evolves over time. Remember, the higher the coverage amount, the higher your premium will be.

Shop around for your insurance

Insurers are very competitive with each other. It’s therefore advantageous to get quotes from several companies or to find an insurance broker who’ll do it for you. If you have a company vehicle, bundling your insurance could possibly help you save money. While shopping, do not hesitate to ask which insurers offer discounts to members of your professional association, if you belong to one.

Find the right insurer for your market

Every business has its own particularities, and some insurers are more comfortable with certain types of businesses. Some specialize in the agricultural market, while others target retail businesses. You should find a broker who specializes in your business sector and is familiar with the legal risks involved. They’ll be in the best position to understand your needs and offer a good premium.

Frequently asked questions about legal expense insurance

How much is legal expense insurance?

The cost of legal expense insurance in Canada varies depending on the insurance provider, the coverage options, and your enterprise. Premiums typically start at a few hundred dollars per year but can go higher based on the level of coverage you choose. Legal expense insurance costs approximately $200 per year but many factors are typically taken into consideration when determining the cost of your premium, such as the industry, prior legal issues and your revenue.

How long do I have to wait to cancel my legal expense insurance?

The cancellation terms for legal expense insurance may differ between insurance providers. It’s important to review your policy documents, but generally, you can cancel your legal expense insurance at any time by contacting your insurance provider. You may have to pay cancellation fees.

What is legal expense insurance?

Legal expense insurance is a policy that provides coverage for legal costs and expenses associated with various legal matters, including disputes, lawsuits, and legal representation. It can help protect individuals and businesses from the financial burden of legal proceedings. For instance, a small business owner might have to spend $500 an hour to seek legal representation and carry a debt at the end of the process if they don’t have legal expense insurance.

What does legal expenses insurance cover?

Legal expenses insurance covers a range of legal costs, including lawyer fees, court fees, expert witness fees, and other related expenses. It typically covers various legal matters such as employment disputes, contract disputes, and more. For instance, legal expense insurance can help you get legal advice if you are audited or wish to appeal a decision from the Canada Revenue Agency (CRA), or if you face a suspension or cancellation of your license required to conduct business.

How do I get legal expense insurance?

To get legal expense insurance, start by comparing quotes using an online comparison tool. Then, you can contact insurance providers or brokers that offer this type of coverage. They will give you information about their policies, coverage options, and premium rates. You can then choose the policy that best suits your needs.

How much legal expense insurance do I need?

The amount of legal expense insurance you need depends on your specific circumstances and the potential legal risks you face. It’s advisable to assess your exposure to legal issues and choose coverage that adequately protects your interests. For example, most businesses will do fine with a coverage of $5,000 to $15,000 per year.

Why should I get legal expense insurance?

Getting legal expense insurance is a wise decision because it provides financial protection in case you face unexpected legal challenges. It can help you avoid the significant costs associated with legal proceedings and ensure you have access to quality legal representation when needed. Say, for example, that your client is unhappy with the report you produced and refuses to pay the $25,000 owed to you for your services. With legal expense insurance, you could get a lawyer to help you recover the amount from your client, plus your insurance would cover all of the legal fees.

Who needs legal expense insurance?

Legal expense insurance can be beneficial for anyone who wants to safeguard their financial well-being in the event of legal disputes. It is especially valuable for small business and individuals in professions with high legal exposure. Please note that in Canada, legal expense insurance is not mandatory.

Do I need legal expenses coverage with my home insurance?

Legal expenses coverage is typically not included in standard home insurance policies in Canada. If you want legal expense coverage, you may need to purchase it separately or as an additional endorsement to your existing insurance. Do not confuse legal expense insurance with legal assistance, which is often included when you purchase home or auto insurance. The latter is a legal helpline for over-the-phone advice from a lawyer or notary.

Is legal expense insurance tax deductible?

Legal expense insurance premiums are generally not tax-deductible. However, you can deduct the fees you incur for external professional advice or services, including legal consulting fees. In any case, it’s advisable to consult with a tax professional or accountant to understand any potential tax benefits or implications specific to your situation.

Are legal expenses necessary for a car insurance?

Legal expenses insurance is not mandatory for car insurance in Canada. However, it can provide valuable coverage in case you are involved in a legal dispute related to car-related matters. For instance, this protection could help cover the costs of legal advice for disputes when buying or selling a car, or defending yourself if accused of a motoring offence.

When is legal expense insurance required?

Legal expense insurance is not required by law in Canada. Whether you need it depends on your individual circumstances and risk tolerance. It can be particularly beneficial for businesses that want to proactively protect themselves. Legal expense insurance is a standalone policy. To get the highest level of support should your business be named in a lawsuit, use it in conjunction with directors and officers insurance, errors and omissions insurance, and commercial general liability insurance.

Compare Legal Expense Insurance

You could save thousands of dollars by getting multiple legal expense insurance quotes and comparing prices.

Get up to three legal expense insurance quotes by answering a few questions