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Motor Legal Protection cover is sometimes called Uninsured Loss Recovery, as the primary focus was to protect policyholders in the event of a non-fault accident from uninsured or untraceable drivers.

Add-ons Market Study

In March 2015 the Financial Conduct Authority (FCA) produced a policy statement following their consultation paper 15/13 in relation to a ban on ‘opt-out’ selling. The statement had the objective of ensuring that consumers of financial products understood the benefits and the costs of the ‘Add ons’.

Best Price FS only distribute policies on a standalone basis, rather than on an ‘add-on’ basis, so the insured person has all of the information at hand in order to make an informed decision about the purchase of the Motor Legal Protection Policy, understanding the full benefits and obtaining the best price premium for the risk.

‘Add-ons’ have a regulatory cancellation notice period of 14 days so we recommend that all consumers of a Motor Legal Protection product, or what is sometimes call an Uninsured Loss Recovery product, make comparisons of the costs they pay for the cover they purchase, so they obtain the ‘best price’ and best Motor Legal Protection cover.

At Best Price FS we recognised the need for the protection that Motor Leal Protection (or ULR) provides, where we are focused on providing cover at a price that all vehicle owners/insured can afford and is excellent value in relation to the risks covered and a 200% saving against the costs of many motor insurance distributors. The cover that we offer has been negotiated as one of the most competitive costs available for the most comprehensive cover available. The cost is £9.99 per year inclusive of Insurance Premium Tax (IPT).

If the insured was to suffer a personal injury, 100% of the compensation is paid to the insured, there is no deduction for legal support.

The Government has set a date to crackdown on ‘Whiplash’ injuries – April 2019, according to a new timetable outlined by the Government. This implementation target has been delayed from the earlier deadline of October 2018.

Impact of the ‘Whiplash crackdown’

The plans include raising the threshold for small claims courts from £1,000 to £5,000 for personal injuries arising from motor accidents, a move that will likely deny many injured parties legal representation on their claims. The new regime will also include tariffs for different classes of injury.

The cover that is currently available ensures that the LPG solicitors will aim to make a full recovery of any claim without any deduction from damages, so policyholders can rest assured that they are protected in the event of a non-fault claim.

The Queen’s Speech in June 2017 included the Civil Liberty Bill which contained measures to limit the cost of soft tissue personal injury claims.

The Government is bringing the regulation of Claims Management Companies (CMC’s) under the scrutiny of the FCA. It may therefore be more important than ever to purchase the ‘peace of mind’ provided by a Motor Legal Protection policy for the cost of £9.99 per year.

Cover Quality

The cover provided by our policy is underwritten by International Insurance Company of Hannover SE (Inter Hannover), who are rated “AA” (very strong) by Standard & Poor’s and A+ (Superior) by A M Best.

The contract is administered by the Legal Protection Group Limited (LPG) who are a well-known team of legal protection insurance professionals, who are regarded as excellent in their field of protection cover.

It is re-assuring to know that in the event of a non-fault accident having a Motor Legal Protection Policy supplied by Best Price FS offers quality cover at the ‘best price’.

We hope this overview is of assistance.