Personal Guarantee Insurance
Many business finance facilities are offered on the basis of a personal guarantee. Personal guarantee insurance is designed to cover part of that personal liability if the guarantee is called upon.
Discuss your fundingWhat personal guarantee insurance does
Cover for part of your liability
Policies typically cover an agreed percentage of the outstanding personal guarantee, subject to the insurer's terms, limits and exclusions.
Arranged with specialists
Apex Loans is not an insurer or insurance intermediary. Where cover is appropriate, we introduce you to specialist personal guarantee insurance providers who assess and arrange it.
Cost depends on the guarantee
Premiums are set by the insurer and depend on the level of cover, the facility, the business profile and the risk assessment carried out.
Multiple directors
Where several directors sign a guarantee, cover can usually be structured to reflect each individual's share of the liability.
How a personal guarantee works
A personal guarantee is a commitment by a director or business owner to meet the business's obligations under a finance agreement if the business cannot. Whether a guarantee is required — and on what terms — is decided by the lender, and it will be set out clearly in the lender's documentation before you commit.
Our role
Apex Loans is an FCA-regulated credit broker, not a lender and not an insurer. We do not underwrite, issue or advise on insurance policies. If personal guarantee insurance is relevant to a facility we arrange, we can put you in touch with specialist providers who will assess your circumstances and set out the cover, cost, limits and exclusions that apply. Any policy is a contract between you and the insurer.
Before you decide
Cover is not automatic, is subject to the insurer's acceptance criteria, and usually covers only a proportion of the guaranteed amount. Read the policy documentation carefully and consider independent professional advice before entering into a personal guarantee or a related insurance policy.