• Construction & Rénovation
  • Construction & Renovation

IS IT A LEGAL REQUIREMENT ? WHO IS COVERED ?
WHAT ARE THE CONSEQUENCES ?

The Spinetta law requires anyone undertaking building work, whether new construction or modification to an existing structure, to obtain building insurance.
For example, all building renovations, alterations and extensions are subject to the requirement to provide a 10 year guarantee. This guarantee protects the owner of the property and any future owners, until the expiration of the 10 year guarantee.
Building insurance is obligatory, lack of such insurance can lead to penalties and can also create problems in the event of resale of the property within the 10 year guarantee period.

NEW DEVELOPMENTS AND EXISTING PROPERTIES

Legal liability insurance cover for undeveloped land (RC TERRAIN)
Aimed at protecting the owners in the event of problems occurring on their undeveloped land.

All risk Property Insurance cover
Aimed at protecting high-end properties undergoing renovation. Many multi-risk insurance contracts limit or suspend their guarantees if the property undergoes substantial renovation. Our contracts have been specially constructed to provide continued insurance cover for all eventualities, except those caused by building work.
For example: natural disaster, flooding, storms, fire, theft and vandalism.

BUILDERS’ RISK INSURANCE COVER

Some Building Insurance cover only comes into effect after acceptance of the building work. Unfortunately, serious on-site accidents do occur during the work.
For example: a falling crane, fire damage at the end of the work, or storm damage to a roof during construction.

WHAT ABOUT REPAIRS? WHO PAYS? WHAT ARE THE CONSEQUENCES?

When necessary emergency measures have been taken, insurer proceed to establish liability. This can take some time as liability may be shared between several parties.
They have to demonstrate which party or parties are at fault and then determine to what degree they each are liable.
In many cases it is extremely difficult if not impossible to prove liability. In the event of a natural disaster (ex: hurricane, flooding, storm damage) nobody is responsible, in the case of malicious damage/vandalism, the perpetrator is often unknown.
In these cases, proprietors only have recourse to other party insurance which may provide limited or zero coverage.
For example, an electrician makes a mistake during testing and as a result, he seriously damages the work he has just completed. His professional liability insurance does not cover this type of problem.
Consequently, building work may stop and deadlines may be extended resulting in price increases and extra costs which are ultimately borne by proprietor.
The direct and indirect financial consequences of unforeseen problems occurring during building work can be significant, to the extent of endangering the project itself and impacting negatively the personal finances of the proprietor.

BUILDERS' RISK INSURANCE (TRC)

With this contract, all accidental damage during building work is covered.
The policy covers the duration of the building work and covers the full and final cost of this work (all fees included). The policy can be changed in line with cost changes or delays to the original plan.
Compensation paid out in the event of a claim covers the cost of all repairs including the costs of clean-up and salvage. This contract is usually taken out by the proprietor at the start of building works. Indeed, he is the beneficiary of the cover and the person who bears the greatest financial risk. It should be noted that the policy “Builders’ Risk Insurance” is a logical complement and precursor to “Structural Damage Insurance”, the two policies enabling provision of comprehensive cover both during and after building work.

STRUCTURAL DAMAGE INSURANCE

Structural damage insurance provides 10 years cover for the cost of repairs from the date of completion of building work. The cover also includes protection for eventual ground defects and is paid out without need for a legal judgment.

TYPE OF DAMAGE COVERED

Structural problems in the building, or one of its components, problems occurring in the building or its structure thus rendering it unfit for purpose.
e.g.: collapse due to faulty construction.
This policy is intended to provide up-front financing for the cost of repairs.
The insurance provider will organize the necessary repair work as specified by expert appraisal. The insurer will also make the necessary counter-claims against the responsible parties.

All Risks Household

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OUR MAIN PARTNERS

Full list of partners available on request

HISCOX

ALLIANZ

GENERALI

ALBINGIA

SAGEBAT

AIG

CHUBB INSURANCE

APRIL

EISL

YOUR PRIVILEGED INTERLOCUTORS

Franck
Mechin
CEO
 
 
Stéphanie
Pedretti
Underwriting Assistant
Professionals / Construction
Events

Françoise
Lucas-Germanovitch
Underwriting Assistant
Vehicles
 
Soazic
Le Maut
Underwriting Assistant
All risks household / Health
Yachts / Construction
 

Laurence
Dalmasso
Claims Handling Manager
 
 
Danielle
Berthier
Accounting / Office Manager