Personal Guarantee Insurance

Protect yourself and your assets

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What is Personal Guarantee Insurance?

This is an annual insurance policy that covers business owners and directors who have signed a personal guarantee against new or existing business finance. It is designed to help protect directors by reducing the risk to their personal assets should the company become insolvent. It is designed to give directors the confidence to do business and focus on growth.

Why should I choose Personal Guarantee Insurance?

Personal guarantee insurance protects a percentage of a business owner or directors’ personal assets in the event the business defaults on a loan with a personal guarantee built into it. Many business owners and directors choose this type of insurance so that they enjoy protection for their personal assets and cash in the event that things don’t go as planned.

Personal Guarantee Insurance – ELS Offers Expert Advice

How Does It Work?

Personal Guarantee Insurance pays a percentage of liability to the creditor or financier if a business owner or director defaults on a business loan. This insurance can be assigned to a lender so that it gives the borrower more negotiating power when it comes to securing interest rates and security. This type of insurance can be expanded to include bearing all of the risks individually or sharing them with the rest of the partners in the business or pledging specific collateral.

What Are the Advantages of Personal Guarantee Insurance?

Firstly, when taking out personal guarantee insurance, you’ll have an extra bargaining tool for negotiating loans and finance and also the interest rates that come with that loan that you may not have had access to without PGI.

Personal Guarantee Insurance also makes it easier to navigate financial instruments with greater confidence and ability, because when the owners or partners of a business have the freedom to make certain decisions knowing that they’re not risking the livelihoods of their families, they’re more likely to take those chances and calculate those risks.

Over time, the savings that one could attract by negotiating preferential interest rates and more competitive finance packages as a result of having this insurance could be used to offset the cost of the insurance altogether.

In a world where business can succeed or fail on a dime, this kind of insurance provides a sense of security as well as peace of mind that otherwise might have been the cause of a lack of action when responding to opportunities in the business environment.

More than ever, entrepreneurs need to know that they’re protected in their personal capacity precisely so that they can pursue their businesses operational objectives more aggressively. Personal Guarantee Insurance is a specialist form of insurance that allows business owners and directors the opportunity to navigate the business environment with greater ease and flexibility.

The complex world of business finance and insurance needs a partner that can rise to the challenge that business owners and directors need. The difficulty in articulating the language of business finance and insurance effectively isn’t necessarily your area of expertise, so call us today and speak with one of our expert advisors for solutions that are perfectly matched to your demands.

Get a Personal Guarantee Insurance Quote

Protect yourself and your assets should the worst happen.  Let's have a chat about your business and find the best solution to protect both. 

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