Decennial LIABILITY insurance
DefinitionThe decennial liability insurance is a guarantee financed by the developer. It offers the owner the guarantee that he will be compensated over 10 years following the completion of works, in the event of construction problems.
To noteThe decennial liability insurance covers a series of damages:
- load-bearing units used for the stability and solidity of the building,
- units used for the purposes of enclosure, cover and water tightness,
- ducts, radiators, pipe work, lines, shafts and coverings of all types,
- in the event of failure of the builder, the buyer is protected during the decennial period.
AdviceThis insurance is not always proposed by construction companies to their clients. Since it is not compulsory but it can be very useful, it is important for the owner to ensure – before any commitment – that the builder has taken such an insurance.
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