As a building professional, you certainly already know: ten-year insurance is a compulsory and costly guarantee. For some artisans, it represents up to 10% of their turnover.
Faced with the risk to which you are exposed and the impact that this insurance can have on your budget, comparing ten-year insurance against each other is very important and is essential for the business manager who wants good coverage at the best price.
Why compare ten-year guarantees?
As soon as you intervene on a construction or renovation site, you must benefit from a ten-year guarantee to have the right to work. Without it, not only is your work illegal and the risks high, but customers don’t trust you.
Decennial insurance is both your “certificate” for working in complete serenity and your “financial insurance” in the event of poor workmanship, construction defects, etc. It allows you long-term peace of mind since it compensates your customers in your stead.
To obtain the best guarantees related to your business
It is obvious, and yet it is not always taken into account. In practice, the carpenter does not have the same responsibility as the painter, and the mason does not have the same responsibility as the plumber.
Each trade will therefore take out ten-year insurance for cover their specific needs. No need, therefore, to insure yourself for work that you or your employees never do.
To get the best prices
Even if you trust your usual insurer, keep regularly informed of the offers offered in terms of ten-year guarantee by competition, is a wise choice.
Indeed, if you find cheaper elsewhere for equivalent coverage, you have all the cards in hand to negotiate your contract down. If your approach is not successful, you can without regrets consider changing professional insurer.
How do you compare ten-year guarantees?
To compare the ten-year guarantees, several solutions are available to you …
Use an insurance broker
This professional, independent and not working on behalf of a particular insurer, must be objective and neutral to find for you the best insurance contracts for your needs.
Thus, it compares the contracts with many insurers, partners or not. If you subscribe for a ten-year period through a broker, he becomes your privileged contact, both for all your questions relating to contributions and guarantees and for your procedures in the event of a claim.
On the other hand, you should know that the broker takes a commission on the rate you pay and that it is not always available to you, having many clients in your portfolio and little time to allocate to each.
Compare ten-year offers online
By comparing offers directly from your home or your business premises, you quickly access best ten-year guarantee offers present on the market. You are not subject to any commitment and remain free to subscribe or not.
The main downside is that you will have to compare the guarantees yourself. However, this exercise can turn out to be a major advantage: better informed, you quickly understand the value of managing the choice of your contract on your own.
To improvise yourself as an expert in insurance comparison, in practice you will have to attach great importance to the following points before any subscription …
The deductible, mentioned in euros, is the minimum amount that remains payable by you in the event of a claim. Thus, a ten-year liability contract “without excess”, even if it is more expensive than a contract with excess, allows you not to incur costs in the event of a claim.
You are the best person to know and judge your work. If you think you are taking very little risk on a construction site, you can save money by choosing a contract with a high deductible. You will only have to pay it if an event provided for in the contract occurs within ten years of the work.
The cover limit, also indicated in euros, represents the maximum amount that the insurance covers in the event of damage. For example, you work on a building site for the construction of a house whose price does not exceed 200,000 euros and your contract provides for a compensation ceiling of 750,000 euros.
Once again, you know the parameters inherent to the building you are working on. Do you have to pay more for insurance to reach a high coverage limit if you know it will never be used in full? Of course not !
The cost of the insurance premium is of course one of the main criteria to be taken into account before any subscription. But if you have understood the main principles of deductibles and ceilings for ten-year insurance, you have already handpicked the offers.
In fact, by comparing the different ten-year guarantees online, you are the only master on board. You choose the guarantees necessary for your activity by avoiding superfluous options and benefit from tailor-made coverage at the best price.