As a construction professional, your responsibility can be engaged from the moment you start a construction site. To be covered in the event of damage, you must take out a ten-year guarantee.
The ten-year guarantee contract for all trades was made compulsory by the law of January 4, 1978 known as the Spinetta law. This insurance aims to protect the professional but also the owner of the building who will be able to benefit from support for repair work for the damage caused. All the explanations.
An all-trades company must necessarily ensure
“All trades” companies are responsible for carrying out various types of work: construction, renovation, house enlargement or extension, demolition, interior and exterior fittings (installation of partitions, patio doors, creation of terraces, design of swimming pool contour…).
Before starting any work, these companies must take out a ten-year guarantee. Indeed, during the 10 years following the reception of the work, they engage their responsibility vis-à-vis the contracting authority and the successive purchasers.
List of damages covered by the ten-year guarantee for all trades
Decennial insurance for all trades companies covers material damage of a certain gravity resulting from hidden defects during reception and revealed within 10 years. To be covered, this damage must have the following consequences:
- Compromise the solidity of the work;
- Or to make the work unfit for its intended purpose.
The ten-year guarantee applies, for example, in the event of infiltrating cracks appearing on the exterior walls, in the event of air infiltration which does not allow the desired temperature level to be reached in the accommodation, or even in the event of a defect in the housing. the installation of a boiler resulting in an insufficient outlet temperature.
The law does not impose any limitation on the amount of guarantee. In other words, the insurer must reimburse all of the repair work on the structure concerned. Be careful, however, your contract may provide for a deductible which requires you to keep part of the compensation at your expense.
Ten-year guarantee for all trades: what are the prices?
The price of a ten-year guarantee varies from one service provider to another and depends on a set of criteria:
- The area of the activity ;
- The size of the business;
- The amount of annual turnover;
- The level of skills and experience;
- The processes implemented;
- The guarantees subscribed.
The price of a ten-year insurance for a company with all trades achieving an average annual turnover of 200,000 euros is around 7,500 euros. It is around 11,000 euros when the turnover climbs to 500,000 euros per year, and 16,000 euros for a higher turnover.
Who to contact for insurance?
You can take out a ten-year guarantee for all trades with your current insurer. The best option is to compete with the competition by using an online comparator and requesting free, no-obligation quotes.
Several points will have to be examined before the subscription and in particular the guaranteed activities. What is important is that the work carried out corresponds to the declared sector of activity. You should also pay attention to exclusions, compensation time limits and price.
Know that a broker can accompany you throughout your research. This professional is perfectly familiar with the ten-year insurance market and has an extensive network of partners with whom he can negotiate rates. More than a simple intermediary, the broker advises you and guides you towards an offer adapted to your needs and your budget.
As you can see, the ten-year guarantee is essential for all trades companies, hence the importance of anticipating its subscription.