Introduction
Personal Guarantee Insurance (PGI) is a tailored solution for Directors who have been required to sign a PG in support of a business loan facility. Jefferson Finance have formed a partnership with Purbeck Insurance, MGA of Markel International, our unique relationship means we have a priority in getting you a quotation.
PGI is available against a wide range of business loans, including:
- Commercial Mortgages
- Development and Bridging Loans
- Invoice Finance
- Asset Finance
- Unsecured Loans
- Loans Secured via Debenture.
Policy Overview
The level of cover is based on a fixed percentage of the Personal Guarantee and depends on whether the Personal Guarantee is signed in support of a secured or unsecured loan.
| Secured Finance | Unsecured Finance | |
| Policy Term: | Annual Policy | Annual Policy |
| Payment Terms: | Annual or monthly payment options available. | Annual or monthly payment options available. |
| Cover Level: | Year one and thereafter: 80% | Year one: 60%, Year two: 70%, Year three and thereafter: 80% |
| Maximum Level of Cover: | £550,000 (£440K Max Claim) | £300,000 (£180K Max Claim Year One) |
| Access to Business Support Services: | Unlimited | Unlimited |
Get a Quotation
Support Service
The policy grants unlimited access to the business support desk at Purbeck. A comprehensive network of advice and contact to help resolve any issues your business may encounter.
The support desk has been able to resolve 85% of all distressed notifications to date and usually helps with the following struggles a business may face:
- Suppliers issues
- Bad Debt Recovery
- Legal Advice
- Turnaround Plans / Recovery Strategies
When a claim is made the policy provides up to £10,000.00 in expenditure towards a professional debt negotiator who will mediate with the lender on your behalf. To date Purbeck have averaged a reduction between 20% – 30% on the sum demanded.
Other Key Features
Personal Guarantee Insurance is available for New or Existing Guarantees.
All policies are underwritten by Purbeck Insurance (MGA) and are backed by Markel International, a triple ‘A’ rated global insurer.
The insurance can be filed as a P11D neutral expense which can be offset against Corporation Tax.
Insurance can be arranged for up to Five Directors on one policy if the Personal Guarantee is signed ‘Jointly and Severally’. Multiple loans can also be considered under the same policy.
Policies can be paid per annum or by monthly instalments.
Getting a Quotation:
A quotation can usually be provided within a few hours, our unique partnership with Purbeck means we have a priority in the quotation .
Alternatively you can contact our relationship partner at Purbeck, James Potter, who will be happy to assist.
Email: j.potter@purbeckinsurance.co.uk
