Ten-year insurance has been mandatory since the Spinetta Act of 1978 on liability and insurance in the building and construction industry. In fact, it obliges construction professionals to take out insurance that covers potential damages that may affect construction. This guarantee gives you as a craftsman the opportunity to cover yourself in the event of defects in the work carried out and if these compromise the solidity of the work or make it unfit for use.
Ten-year liability, as the name suggests, covers you for a period of 10 years after the client accepts the work. It is imperative to take out this insurance before the start of the construction site.
Who is worried about the ten-year insurance?
The ten-year insurance covers any person or company involved in the construction of a structure, new or existing. It is therefore about design studios, developers, bricklayers, installers of solar panels, plumbers, etc.
By taking out a 10-year insurance policy, your liability is guaranteed for 10 years towards the customer. For example, a ten-year liability can arise if major cracks in the walls lead to water ingress, or if the floor of a terrace collapses as a result of the work.
Which ten-year insurance contract should you choose?
There are many ten-year contracts on the market. With the ten-year April guarantee, you choose the contract according to your turnover, for example. You can definitely give an estimate over 12 months. There are also specialized contracts if your market is very specific, such as pool contractors, porch contractors or waterproofers. Similarly, if you are a plasterer or installer of solar panels, the insurance agreement will not be the same and will be adapted to your needs. Don’t hesitate to inquire to find the best ten-year insurance contract that’s right for you.
In the event that you wish to subcontract the work to be carried out, this is catered for in the terms of the ten year warranty, but remember to mention this when you sign your contract.
When should you change the ten-year insurance policy?
You have three options for terminating your ten-year insurance contract:
- At the end of your contract, subject to a notice period of two months;
- After a change or cessation of your activity;
- In the event of a request to add an activity rejected by your insurance company.
If you are concerned about one of these three cases, it is possible for you to sign a new ten-year contract. However, please note that the effective date of your new contract corresponds to the expiry date of your old contract, so that there is no interruption in your ten-year cover.