Do you work as a building professional and need ten-year insurance? What is the price of this blanket?
The price of a ten-year insurance varies from one provider to another. However, a set of criteria are taken into account and depend essentially on your professional situation. How is the price of a ten-year guarantee calculated? Answer and advice!
What is the ten-year insurance used for?
Decennial insurance is a legal guarantee owed by a builder and making it possible to obtain repair of certain damage that may affect the solidity of the structure for a period of 10 years from the date of acceptance of the work. It applies to the owner but also to successive buyers in the event of resale of the property.
Professionals who do not comply with this subscription obligation incur a penalty of 6 months imprisonment and / or a 75,000 euros fine. Thus, it is advisable to sign this contract as soon as possible and before the start of the work. The presentation of a decennial insurance certificate will also reassure customers who will benefit from coverage in the event of a claim.
List of damages covered by decennial insurance
The ten-year guarantee covers damage:
- Which can affect the solidity of the construction or its inseparable equipment;
- Which make it uninhabitable or unfit for the use for which it is intended.
Here are some examples of damages covered by this insurance:
- A collapse resulting from a construction defect;
- A lack of sealing;
- Significant cracks;
- A lack of conformity;
- A vice of soil;
- Malfunctions affecting a heat pump.
These claims are covered for 10 years as soon as they occur after the date of acceptance of the site. When damage is noted and reported to the ten-year insurer, the latter mandates an expert to assess the amount of the damage. Depending on the expertise provided, the insurance company may or may not make an offer of compensation.
What is the price of a ten-year insurance?
To determine the price of a ten-year guarantee, the insurer takes into account very specific criteria:
The size of the company
The workforce is one of the main elements studied by the insurer. Indeed, the amount of contributions will not be the same for a EURL without employee as for an SA with several dozen employees.
The nature of the main activity carried out
Some activities are considered to be riskier than others. For example, a service provider will pay a lower premium than a company specializing in masonry and structural work.
The turnover achieved
The higher the turnover, the more the company is exposed to risks and the amount of its premium increases.
The level of experience and skill
An experienced company that has not had a claim will benefit from a more attractive price than a younger company with an already established track record.
The processes implemented
There are construction techniques and processes that are riskier than others. The amount of the insurance premium may be higher or lower depending on the choices made by the professional.
The desired level of guarantee
The more the guarantees are numerous and extensive, the more the price of ten-year insurance increases. A balance must be struck between the guarantees chosen and the price.
After taking this information into account, the insurer will be able to communicate the amount of the contributions to its future client, who remains free to accept this proposal or not.
Examples of ten-year insurance rates
As an indication, the price of a ten-year insurance for an electrician working under the status of auto-entrepreneur is 830 euros.
If you are a bricklayer and have an average annual turnover of 250,000 euros, your ten-year guarantee will cost around 4,500 euros.
Finally, for a general building contractor with a turnover of 400,000 euros, the cost climbs to 16,000 euros.
To find a ten-year insurance at the best price, it is advisable to make several requests for quotes online.
How to find the best ten-year guarantee?
Are you looking for optimal ten-year insurance? To put the odds on your side, do not hesitate to use an online comparator. To access the best offers, all you have to do is complete a quick form, including your sector of activity, the amount of your turnover, the company’s workforce and the desired level of guarantee. The comparator is responsible for sorting through the many contracts available and only suggests those that correspond to your needs.
You do not want to take this step alone? A broker specializing in ten-year guarantees can accompany you throughout the subscription. Concretely, this professional, after having analyzed your needs, is in charge of comparing the offers for you and advises you in your choice. He will also be able to answer all your questions. Saving time, savings, personalized support and advice… There are many advantages to going through a broker.
What if you can’t find ten-year insurance?
If the insurers refuse to guarantee the ten-year period, you can contact the Central Pricing Office (BCT). The referral procedure is free but rigorous. You will first have to contact one or more insurers. The refusal of insurance is characterized by a written return from the insurer or by the absence of a response within 45 days of receipt of the request for insurance. In this situation, the BCT must be contacted within 15 days of the express refusal of the insurer or within 45 days of receipt of the request by the insurer if the latter has not not answered. The file sent to the organization must include: a signed request for intervention from the BCT, the name of the requested insurer, a copy of the insurer’s referral letter, the insurer’s refusal letter. It takes 2 to 4 months to receive the decision from the Central Pricing Bureau.
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