Personal Guarantee Insurance
Personal Guarantee Insurance has been designed to give Directors the confidence to do business, focus on growth objectives and protect their personal estate.
Personal Guarantee Insurance
As a condition of raising business finance, Directors are often required to provide additional security to the lender by signing a Personal Guarantee. By signing a Personal Guarantee, the Director is placing his or her personal estate at risk; if the business fails the lender can seek recoveries from the Director personally.
In most cases, signing a Personal Guarantee can be a key component in securing business finance.
Directors are, therefore, willing to provide a Personal Guarantee to secure business finance so their business is able to pursue its growth objectives.
Personal Guarantee Insurance is an annual insurance policy that provides Directors with cover in the event the business lender calls on their Personal Guarantee following insolvency.
Personal Guarantee Insurance provides:
- Competitive premiums and cover available across a wide range of business loans
- Insurance available for:
- Existing or new Personal Guarantees
- Multiple Personal Guarantees
- One or more guarantors
- Full quotation in minutes using our online quote and buy system or via telephone with one of our partners specialist advisors
- Insurance policy insured by Markel International, an A-rated leading insurer
- Unlimited access to Business Support Services; a group of specialist advisors who are at your side should your business need support
Personal Guarantee Insurance is available for Personal Guarantees provided against a wide range of business loans:
| Secured Loans | Unsecured Loans |
| Asset Finance | Credit Cards |
| Commercial Mortgages | Peer to Peer Loans |
| Invoice Finance | Overdrafts |
| Other secured loans | Other unsecured loans |
Personal Guarantees provided against
| Personal Guarantees | Secured Loans | Unsecured Loans |
| Policy term: | Annual policy | Annual Policy |
| Details of cover: | Cover
is based on a fixed percentage: • Year one and thereafter: 80% |
Cover is based on a
fixed percentage: • Year one: 60% • Year two: 70% • Year three and thereafter: 80% |
| Payment terms: | Annual or monthly payment options available | Annual or monthly payment options available |
| Maximum level of cover: | £400,000 | £300,000 |
| Access to Business Support Services: | Yes - unlimited | Yes - unlimited |
Finance for Agriculture has partnered with Purbeck Insurance to provide specialist Personal Guarantee Insurance to Directors and Shareholders of UK businesses. Purbeck Insurance is authorised and regulated by the Financial Conduct Authority.
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