The ten-year guarantee, or ten-year liability insurance, is an obligation for building craftsmen. Underwritten before the start of a construction site, it covers claims that could arise after the completion of a construction or restoration of buildings. Valid for 10 years, it is made compulsory by article L 224-1 of the Insurance Code.
Decennial insurance remains costly insurance for the craftsman, because it can involve large sums in the event of damage affecting the entire building. In this context, how can we find the best ten-year liability at the most competitive price possible? We are going around the question in this file!
How does the ten-year guarantee work?
To find the best and cheapest ten-year guarantees, it’s important to understand how this insurance works.
All building tradesmen must subscribe to it and must provide an insurance certificate to their client or to the project manager. The ten-year guarantee is mandatory in the context of construction, renovation large-scale or during certain modifications likely to damage the frame.
Which craftsmen must subscribe to it?
Thus, ten-year insurance is required for various trades involved in a construction. Of course, it goes without saying that the artisan mason or carpenter must take advantage of it. But make no mistake, it is just as important for the electrician, the plumber or the painter. There is therefore no exemption in this area.
What risks does it cover?
As soon as you work as a craftsman on a structure inseparable from the building, the ten-year guarantee is mandatory and covers you:
- For the repair of damage rendering the property unfit for its use and destination
- For all damage likely to jeopardize the solidity of the home for which you worked
In the event of fault on your part, faulty workmanship or construction defect, the ten-year insurance allows you to compensate on your behalf and the amount of repairs and damage caused to your end customer.
What penalties for forgetting to subscribe?
Do not neglect the ten-year insurance. It is mandatory and the legislator has provided for heavy penalties in the event of non-compliance with your contractual and insurance obligations. As a professional construction craftsman, you expose yourself to a financial penalty of up to 75,000 euros as well as a criminal penalty of up to six months’ imprisonment.
That’s not all, if you forgot to take out the ten-year guarantee, by omission or voluntarily, you are liable and joint surety for the work carried out. The scope of responsibilities is such that it most often calls into question the health of your business, both for loss of assets and for bankruptcy.
How much does decennial liability insurance cost?
The price of the ten-year guarantee varies according to many criteria, the first being the scale of the site you are working on, but it is far from the only one. In fact, the following factors must also be taken into consideration:
- The size of your business, its legal status, its number of employees
- The age of your company, its annual turnover and its expertise
- The company’s loss experience over the years, a contribution reduction that may be granted depending on your previous reliability
- Risk assessment specific to your activities, because some craftsmen touch the built structure more than others
- The declared workplace, the ten-year guarantee is taken out for a specific geographical area
- The coverage chosen, as well as the deductible amounts and the insurance ceilings provided for in the contract
Although it is impossible to give you a precise price without knowing all the elements concerning your situation, large price ranges are nevertheless indicated:
- At least 7,000 euros per year with several employees and a turnover of more than 500,000 euros
- At least 5,000 euros per year for a roof waterproofer or a carpenter
- From 2,000 to 6,000 euros per year for a mason craftsman
- From 1,200 to 5,000 euros per year for a plumber or an electrician working in a sole proprietorship
Whatever your main activity, the cost of ten-year insurance is high and should in no case be neglected in your forecast turnover. Of course, it is possible to obtain a competitive price thanks to a few tips …
How to get the lowest insurance price?
Tips for negotiating your contract down
Although the price of your ten-year insurance depends on many factors that are beyond your control, there are still some that you can play on to pay less:
- Only opt for guarantees that are useful for your business : professional civil liability and ten-year insurance are compulsory, other contracts are optional
- Take out insurance packages : you can take advantage of this comparative study to subscribe at the same time a RC Pro, a ten-year and why not a legal protection to make overall savings
- Play on the amount of deductibles : the higher your remainder in the event of a claim, the lower your contribution, you are professional and secure in your benefits, increase the amount of your deductibles
- Showcase your insurance history : you have benefited from a decade for several years and have never had a claim? It’s time to request a commercial discount from your insurer or to change it!
- Compare ten-year offers online or call an insurance broker: insurance premiums may vary from one offer to another, it’s up to you to compare the rates and guarantees before taking out your contract
You have the cards in hand to choose the ten-year insurance that is the ideal compromise between your financial possibilities, your level of professional expertise and your coverage requirements.
A less expensive ten-year warranty online
To access the most competitive quotes on the market, using an online simulator remains the best solution. Indeed, the tool gives you a quick estimate of the cheapest insurance offers and puts many organizations in competition.
You may even have good surprises with independent partners, who offer guarantees as solid as historical insurers, but at a lower cost. In addition, by completing the form correctly, you save yourself the wait and possible refusals by only receiving the offers to which you are really eligible.
Choose your contract carefully and take the time to study the guarantees offered by checking that they are in line with your real professional needs. They must also cover all your activities as well as those of your employees.
In all cases, remember to anticipate your subscription by requesting quotes quickly. In fact, the law requires you to be covered from the start of the work so that the ten-year guarantee is valid. Compare online, it’s fast, simple, free and without obligation!