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PERSONAL GUARANTEE INSURANCE Security for personal liabilities in business

Get a quote for your personal guarantee insurance

What is Personal Guarantee Insurance?

A Personal Guarantee is an unsecured ‘promise’ from a business owner or director to guarantee that payment for a loan will be made by them in the event that their business is not able to pay. This is why, when raising finance, a lender will often ask for a Personal Guarantee to provide additional security. Often, without this, the finances cannot be secured.

The assumption by the business owner/director is, of course, that signing the Personal Guarantee carries little to no risk as the business will provide. However, unforeseen circumstances can arise, and that is where Personal Guarantee Insurance steps in to eliminate the risk to the director’s personal estate.

If you are a business owner and have signed a Personal Guarantee to secure finance, the last thing you anticipate is being unable to cover the repayments. However, things out of your control can, unfortunately have adverse effects:

  • A market downturn
  • Supplier failing in their duty
  • Key customers going out of business
  • Illness of a key individual

Get a quote for your personal guarantee insurance

Personal guarantee insurance wallet in vice

If your business becomes insolvent, the lender will call on the Personal Guarantee to cover any financial obligations – and the amount the lender asks for can rise if interest or other costs are added – leading to the signatory losing important assets.

Personal Guarantee Insurance has been designed to give business owners and directors the confidence to focus on their business growth objectives without worrying about this risk. It can be tailored to suit you and the amount you want to insure, and importantly, to give you the freedom to pursue growth without personal risk.

What insurance do I need to consider?

Every club, organisation, and race is unique, so no ‘one size fits all’ insurance plan or solution exists. Aside from personal guarantee insurance, there are some other recommended insurance options for your club, such as:

Public Liability

To cover the insured’s legal liability to compensate others for personal injury or damage to their property. Find out more

Personal Accident

Cover that pays a benefit in the event of an insured person’s death, injury or illness. Find out more

Cyber Insurance

Protect your systems, membership details and customer data against cyber threats and breaches. Find out more

Legal Expenses

Provides legal services and covers costs to defend or pursue certain legal actions. Find out more

Kit & equipment

A specialist kit and equipment insurance designed for the sports, dance and leisure industry. Find out more

Employers Liability

Cover should an employee suffer a work-related injury or disease, whether full time, part time or volunteer. Find out more

Event Cancellation

Compensate for any financial loss following cancellation, disruption, postponement or relocation. Find out more

Sports travel insurance

Cover for sports individuals including whilst competing with option to cover winter sports. Find out more

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