Today many families prefer the renovation to the move. From simple refreshments to major renovations, such a project comes at a cost. It therefore becomes essential to secure your investment by anticipating all the problems related to a possible poor invoice. Taking out insurance is one of the precautions to take. Why should you take out insurance, especially for large renovations? What are the compulsory insurances? We’ll talk about it.
Insurance after renovation: a necessary evil
Whether on the part of the owner or the professional, taking out insurance after the renovation is essential. In fact, accidents happen in a rush. This type of event is generally beyond our control and yet can impact a construction. Proper insurance will prevent you from being damaged by spending a phenomenal sum on the repairs undertaken.
Then, even if the work seems expensive, don’t forget that you can take advantage of the bonuses allocated by the government.
This is the case of MaPrimeRénov ‘which is explained on Hellio (https://particulier.hellio.com/blog/financement/ma-prime-renov). That said, if you’re considering a home addition as a remodel, it’s important to notify your insurance company. The insurer will then re-evaluate the contribution that will make it possible to cover the newly created room.
Focus on property damage insurance
Do you want to renovate your home and rely on a carpentry company? Know that today you are obliged to take out damage / work insurance. If the perfect completion guarantee commits the professional to repairing your home within one year, this takes over and begins only one year after the actual delivery of the site.
I have noticed it work damage insurance offers coverage for nine consecutive years. It is therefore concluded at the same time as the ten-year insurance. During this period, if you sell your property to a third party, the collateral is automatically transferred to them. So if any breakdowns occur that compromise the stability of the infrastructure, repairs are the responsibility of your insurer. It should also be noted that the compensation is made quickly, no more than 60 days.
Ten-year warranty
While the project manager is required to take out property damage insurance, the professional in charge of the renovation must take out ten-year insurance. This obligation is foreseen by the Spinetta law of 4 January 1978. Furthermore, failure to subscribe is punishable by imprisonment for 6 months in addition to the payment of 75,000 euros as a fine. Note thata ten-year guarantee starts from the effective acceptance of the works. Then, as the name suggests, it is valid for a period of 10 years.
This device is useful in several ways. Not only will you benefit from a timely repayment, but you will also ensure that you cover a number of damages that could affect the newly remodeled home. The roof intervenes, for example, in the context of a subsidence of the floor, the appearance of cracks on the external walls or even a failure in the air conditioning. It will be the same for faulty insulation, a problem with the heating or even with the frame. Despite its price, it is an initiative that is definitely worth it.
