Cover for company directors
New to the UK: Personal Guarantee Insurance provides financial security and peace of mind for individuals, usually Directors who have given Personal Guarantees for all types of secured and unsecured Company borrowings.
What does PGI cover?
PGI covers guarantees given in respect of all secured and unsecured lending to include; bank overdrafts / secured loans, Invoice Finance, Asset Finance, Property Finance and unsecured loans (Peer to Peer). The insurer will pay out up to 80% of your liability to the lender.
How it Works
The guarantor is protected in the event of the company being unable to payback its lender. Cover for Secured Loans is 80% in Yr 1 and thereafter. Unsecured loans cover is 60% year 1; 70% year 2; 80% year 3 and thereafter.
Cover is available for existing guarantees or as additional finance is taken out and is reviewable annually.
How Much Does it Cost?
The annual premium is based on the applicants individual requirements and on the level of the cover required. For a quick, convenient and simple online quote Click Here . Alternatively call us to discuss your requirements.
Please note Nationwide Asset Finance does not offer advice or services in this area of insurance.