Individuals, companies, real estate developers or sellers and project owners must take out insurance for any work, construction or renovation project. This insurance covers the reimbursement of repairs in case of damage. What are the steps to follow in order to obtain a work damage insurance ?
Putting together a subscription file
In order to obtain a building damage insurance for private individuals, you have to put together an application file. Having compared the different insurers' rates and obtained quotes, each person has to evaluate the price of the insurance that suits him. The insurance for private individuals is the equivalent of a decennial insurance for private individuals. The person concerned has to subscribe to an insurance for private individuals by filling in various documents.
The proposal questionnaire must be completed. Documents such as the building permit, the agreements and clauses with the technical controllers and design offices as well as the declaration of the opening of the building site must be attached. In order for a file to be admissible, the plans of the works, the estimates or contracts received by the builders must be included, always linked with a certificate of ten-year insurance. It is possible that banks and insurers require other documents such as the soil survey report or the project management contract.
In order for the insurer to accept and validate this application, it is also necessary to send them the minutes of the work carried out as well as the documents on the actual costs after the acceptance of the work. Do you have a project in mind?
Making a claim
Obtaining a damage insurance for individuals is regulated. The beneficiary and / or the insured of this insurance has the obligation to make a declaration of damage. To do so, the damage(s) must be identified and meet the conditions of coverage such as breakage, collapse or subsidence. Damages are the defects that corrupt the solidity of a structure. Each case is specific, so it will be necessary to review the insurer in the case of a damage insurance auto construction.
According to the Insurance Code, the declaration of a particular damage can be made up to two years after the damage. A claim must be complete in order for the insurer to carry out studies on the damage suffered and to compensate the beneficiary. This statement must be sent by registered mail with return receipt to ensure its validity. It includes the identity of the beneficiary, the address of the damaged building, the date and precise description of the loss as well as the start of the work. It is imperative to make the claim as soon as possible in order to avoid an aggravation of the damage 5 days after the claim.
The insurer must notify the beneficiary within 15 days of their decision to compensate in the case of small claims. For large claims, the insurer has a period of 60 days after the expert report. The compulsory damage to work insurance can guarantee the payment of the repairs before and after the reception of the work. The insured must have in his possession a certificate of damage work to benefit from this insurance and to be compensated.
Have a certificate of damage to the work
Before the beginning of the works: reconstruction, renovation, extension, the owner must subscribe to a damage to work insurance for private individuals. After signing the subscription contract before the opening date or the beginning of the works, the insurer is obliged to deliver a damage to work certificate. This certificate includes the date of the beginning of the work, the expected date of the reception of the work as well as the guarantees and contracts included in the personal property insurance.
This document is required and often demanded by the bank or the notary for useful purposes. The certificate is a proof for the bank that the insured or the beneficiary is indeed subscribed to a compulsory construction damage insurance for his construction project. That a loan can be granted to him in view of his ability to repay and is covered even in the event of a claim.
The notary needs this certificate to verify the validity of the insurance in case of sale of the property. The insurance damage work particular takes effect as of reception of work and this during 10 years. You should take into account the guarantees offered by your insurer.
Trusting a good insurer
In order to get the best insurance coverage in case of a claim, and even the best insurance premium, make sure you choose the right contract with the insurer that is most advantageous to you. The insurer is the expert hand that undertakes to cover the repairs of your work in case of damage, and this, as soon as possible.
Repairs and compensation are made immediately, without any search for responsibility. The insurer will guarantee the price of the damage work with a possible simulation of the cost of the insurance. Entrust and cover your construction projects with the insurance damage work.