Concerned about the prospect of signing a Personal Guarantee and hesitant to proceed?
Congratulations firstly! You've received your finance offer, & your ready to take your business to the next level. If the idea of a Personal Guarantee has given you pause though, worry not— we can offer a personal guarantee insurance.
Personal Guarantee Insurance is an annual insurance policy designed to meet the growing demand by finance companies requesting Personal or Director Guarantees. These are often requested of directors or shareholders of Limited Companies in support of a business finance facility. The product is designed to give you confidence to invest in your business whilst protecting your personal assets.
If your company enters insolvency, your insurance policy will provide will personal guarantee cover with the funder directly on a set rate depending on your finance product.
Personal Guarantee Insurance can cover a multiple finance products. The level of cover provided depends on whether the finance product is secured or unsecured shown below.
Secured insurance available up to £400,000
Cover is based on a fixed percentage of 80% year one and thereafter
Secured debt includes
Buy to let mortgages
Unsecured insurance available up to £300,000
Cover is based on:
60% year one
70% year two
80% year three and thereafter
Unsecured finance includes:
A maximum coverage of £400,000 for secured finance and £300,000 for unsecured finance,
Unlimited access to the Business Support Service, offering invaluable assistance during financial challenges,
Coverage for multiple Directors under one Policy at no additional cost if the PG is signed ‘jointly and severally,
Inclusion of multiple guarantees under one Policy.
The company pays for it, not you!
Typically, the PGI premium is paid for by the business, since the original loan that the PG is attached to was for business purposes. The Director can then add the premium to the P11D.
Guarantee Products // Personal Guarantee // Buy to Let Personal Guarantee
An essential aspect of PGI is its provision of unrestricted entry to a Business Support Service for Policyholders. Businesses may encounter various financial challenges, including unforeseen ones (consider the impact of events like Covid!). With PGI, you can consistently tap into a support service staffed by professionals who are readily available to assist you in navigating through these difficulties.
Why do we choose to insure anything? It’s about ensuring that, in the face of adversity, we’ll be able to handle it. Particularly when dealing with something as significant as a Personal Guarantee, the peace of mind it provides is truly invaluable, and its worth cannot be understated.
We can not thank Ruth enough for everything she has done for our company the time Ruth has spent with us finding the right finance for us and is always at the end of the phone to answer any questions our experience with Ruth has always been straightforward and very quick and professional we wouldn’t use anyone else for all our company’s finance needs. Charmaine
Great service from Ruth at Amica. She helped me get the finance for my new van this week which I urgently needed before the weekend. Ruth said no problem, and to her word had the finance sorted at a great rate and paid to the dealer within in couple of days. Very happy with the service and will be using Amica again to finance van purchases and equipment. Thanks Ruth.
We at A&C Maintenance have used Amica for the purchase of our new machine and they have been excellent throughout. They kept us well informed and sorted out the finance quickly and efficiently for us. We will be purchasing further machinery next year and will definitely use this company again. Many thanks again to Ruth and the team.
Excellent service provided for assisting with arranging the finance for purchasing our new car and obtaining a great deal on the finance. Kept informed during the process from start to finish. Would highly recommend
I cannot recommend Amica enough! 5 star service from a 5 star team! You can tell the customer is important to them and they pride themselves on getting you what you want and need, within your budget and time frame.I dealt with Ruth & her team and let me tell you, what a treat! They took most of my information from the company I was financing the product from, called me to check a few details (only once, they were thorough and made sure they knew everything they needed before there call), I then got a few options for my terms etc on email, I read them, picked one and then next thing I knew I had my new equipment on the way! I've worked in finance & I have several finance agreements and I have to say this was the most seamless, stress-free, professional, friendly experience I've ever had! Will definitely be back when I need my next item.Ruth followed up with a call about 2 weeks after my equipment had arrived to make sure everything had gone smoothly with the other company and we were still happy. (before our deadline to change our mind) & the team sent us cake as a thank you!CharMacc Scrap Metals.
Ruth couldn’t do enough for us. She made the full process simple and easy. Great communication and nothing was too much. We even received a little gift in the post after purchase was complete! Would 100% recommend!
Amica Finance was recommended to me by Leisure Displays Ltd and I’m definitely glad i took their advice. Matt Coxon was great from the start. Every question was answered quickly and clearly. The whole process could not have been easier and from talking to Matt to picking up my new car has taken just 1 week. Very impressed. Thanks
🚀💼 Ready to take your business to new heights? Explore the possibilities with a Business…
Incorporated businesses can produce indicative rentals by using our payment calculator. As a result of regulations, parties that are not incorporated such as Individuals, sole traders, and partnerships of 3 or less must request a personalised quotation.
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