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Personal Guarantee Insurance (PGI) with Purbeck
PGI is an annual insurance product designed specifically for business directors who have been required by their lenders to provide a personal guarantee, in favour of the lender, when they have raised finance for their business.
This type of insurance provides you with financial security and will pay out in the event of a call on the personal guarantee by your lender. PGI is designed to give directors the confidence to fund their businesses and finance growth, without the worry of a personal guarantee that could be required to cover this funding.
The level of your cover will be based on a fixed percentage and this increases for each year the policy is in place:
- Year one: 60%
- Year two: 70%
- Year three and thereafter: 80%
When is PGI appropriate?
PGI’s are available for personal guarantees that have been provided to lenders across a range of financing facilities for SMEs and big business including:
- Invoice financing facilities
- Finance for Plant and Equipment (such as asset finance)
- Secured and otherwise unsecured bank overdrafts and loans
- Other secured and otherwise unsecured business loans
Your annual premium will be calculated on your individual circumstances and your specific requirements. You will have the choice to pay in full upfront or make monthly payments, dependent on what suits your business.
PGI is sold and underwritten by Purbeck Insurance Services. An insurance intermediary which is directly authorised and regulated by the Financial Conduct Authority.
Purbeck Insurance Services underwrites PGI on behalf of Markel International, an A-Rated Fortune 500 insurance company.
How to apply
Get a free PGI quotation or more information.
For more information regarding Purbeck Insurance Services and Markel International and the service they offer, get in touch with us today. Purbeck Insurance Services is a trading name of Purbeck UK Limited, which is a company registered in England and Wales and has its company number 10345620. Purbeck UK Limited is directly authorised and regulated by the Financial Conduct Authority in respect of Insurance Mediation. We, WF Financial Solutions, part of the Wilson Field Group, do not offer advice or services in this area of insurance.
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Why Choose Us?
WF Financial Solutions is an independent broker of invoice, asset and trade financing solutions with links to lenders of all sizes and specialties. WF Financial Solutions has helped many clients through the range of lenders and their varying services and are proud to offer advisory and introductory services to finance providers that suit your needs.