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You’ve signed a Personal Guarantee.
Here’s an alternative to a stiff drink.

Here’s everything you need to know about Personal Guarantee Insurance.

Basic Criteria

Personal Guarantee Insurance is available for Personal Guarantees provided by Directors of Limited Companies or Partners of Limited Liability Partnerships located in the United Kingdom.

Types of loan facilities

Personal Guarantee Insurance is available against Personal Guarantees provided against a wide range of business loans:

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Secured loans

A secured loan is where the lender has taken a charge over company assets or has a contractual right of recover over a company asset that funds have been lent against in additional to the Personal Guarantee.

Secured loans include:

  • Asset finance
  • Commercial mortgages
  • Invoice finance
  • Other secured loans
  • Qualifying peer to peer loans
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Unsecured loans

An unsecured loan is where the Personal Guarantee and any associated charges over personal assets are the only security the lender has taken.

Unsecured loans include:

  • Credit cards
  • Overdrafts
  • Peer to peer loans
  • Short-term working capital loans
  • Other unsecured loans

Scope of cover

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Notifiable Events

We are at your side and here to help.

Your business may at any time suffer from any one of a number of financial or trading difficulties. It is important that we are notified as soon as you become aware of any of theses - we call these Notifiable Events.

You need to read your policy carefully to ensure you are aware of all such situations, some examples of Notifiable Events include:

  • County Court Judgments
  • Inability to repay debts or creditors as they fall due
  • Unexpected expenditure which cannot be met from available cash resources

When you make us aware of a Notifiable Event we will introduce you to our Business Support Services.

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Business Support Services

It is in our interest to support you with any financial issues your business faces. We are committed to working with you to ensure that your business continues to be successful.

The Business Support Service may help you by introducing you to specialist companies in:

  • Business recovery
  • Cash flow management
  • Credit control management
  • Tax credit and deduction advice including R&D and Capital Allowances
  • Debt management
  • Financial restructuring
  • Invoice disputes

The Business Support Service is available to you and not just following a Notifiable Event.  Purbeck receive no incentives for introducing you to these services.  We believe they will help strengthen your business and they are businesses we trust.

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Renewals

The annual renewal process is simple and straightforward, enabling you to focus on your business. By renewing your annual Personal Guarantee Insurance policy you will ensure that the cover remains in place across the duration of the financial commitments.

30 days prior to renewal, you will be provided with an email link to retrieve your application. You will be asked to confirm your original application details and apply for renewal.

Please note, renewal of your policy will be subject to your circumstances at that time and the insurance may be subject to periodic change.

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Policy Documentation

You will have the opportunity to review the Policy Summary and Key Facts Information prior to purchasing Personal Guarantee Insurance. These documents set out the significant features, exclusion and important information relating to the Policy.

You will have the opportunity to review the Policy Summary and Key Facts Information prior to purchasing Personal Guarantee Insurance. These documents set out the significant features, exclusion and important information relating to the Policy.

If you wish to review the documentation before you apply, please follow the relevant links below:

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Multiple Guarantees?

We can include multiple guarantees on your Policy if you have two or more guarantees in place.

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More than one Guarantor?

Where the Personal Guarantee has been signed by two or more Directors "jointly & severally" we can include additional Directors on your Policy.

Contact us:

For more information or to discuss your specific requirements, please contact us.

“The finance community tend to treat SMEs quite badly - I’ve got the scars to prove it

Director, Haulage Company, UK

- but Purbeck moderates the risk with their PGI product. I’ve already recommended it to several people and will always incorporate into future budgets for our company growth, should we need it.”

Talk to Purbeck

When you sign a Personal Guarantee we understand it’s more than just your signature on the line

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Whatever the query our support team are here to answer your questions

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