When a new building is built, the real estate entrepreneur is obliged to take out home insurance called “work damage”. Indeed, a manufacturer working in the field is required to comply with the regulations provided for by the Spinetta law of 1978. But, what do you need to know about this guarantee?
What is works damage insurance?
This is insurance to be taken out during construction or renovation work calling into question the solidity of the infrastructure and risking making it uninhabitable. Its role is to protect the insured in the face of any disorder occurring and capable of putting him in conflict with the actors in charge of the renovation or construction.
Thus, work damage insurance operates with a double guarantee. On the one hand, it helps the insurer to compensate its client without implying the liability of a particular party. On the other hand, the insured quickly receives his compensation from the company.
What are the advantages of taking out this type of insurance?
Having a dual guarantee system, the work damage contract allows the insured to avoid waiting for several years before receiving compensation. Thus, if a problem arises with the builder, the insured receives his compensation as quickly as possible, particularly in the case of damage to the frame, water infiltration and cracks in the walls.
The stated guarantee takes effect directly upon expiry of the construction guarantee, one year after completion of the work. As for the completion of the guaranteed coverage, it is done at the same time as the ten-year guarantee, i.e. a period of 10 years following receipt of the work. If an accident occurs, the insured will benefit from an assessment carried out by a specialist. It should be noted that this guarantee does not under any circumstances cover delays in completing the work or disasters such as fire or flooding.
Steps to follow
Taking out a building damage insurance contract is mandatory before opening a construction or renovation site. It is the project owner, better known as the builder, who takes care of the subscription with the company of his choice. Builders often offer this insurance with the alleged construction contract. On the other hand, the owner of the house has all the powers to choose an insurer apart from the one proposed. As has been said before, this guarantee only lasts 10 years, from receipt of the work.
How does the reimbursement take place?
To receive the compensation amount, the insured must send a claim declaration to the company. The latter takes care of making an assessment of the amount to be compensated. Concerning a claim covered by the ten-year guarantee, it is the project owner who is responsible for sending a registered letter to his insurer. This letter must be sent within 5 days after the damage.
After receiving this declaration, the company is responsible for assigning an expert to assess the damage. Once this assessment is completed, the insured must wait up to 90 days to benefit from compensation.
