Monday, April 15, 2024
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Why take out insurance after renovating your house?

Today, many households prefer renovation to moving. From simple refreshment to major renovations, such a project has a cost. It therefore becomes important to secure your investment by anticipating all the problems associated with possible poor workmanship. Taking out insurance is one of the precautions to take. Why should you take out insurance, especially for major renovations? What are the compulsory insurances? We talk about it.

Insurance after renovation: a necessary evil

Regardless of whether it is on the owner’s or the professional’s side, it is important to take out insurance after renovation. It happens that accidents happen in steps. This type of event is generally outside of our control and may still have an impact on a build. A proper insurance policy will prevent you from getting hurt, spending a phenomenal sum for the repairs done.

So, even if the work seems expensive, do not forget that you can take advantage of the bonuses awarded by the government.

This is the case with MaPrimeRénov’, which is explained on Hellio (https://particulier.hellio.com/blog/financement/ma-prime-renov). That said, if you’re considering a home extension as a renovation, it’s important to let your insurance company know. The insurance company will then reassess the contribution, which will make it possible to cover your newly created room.

Focus on property damage insurance

Do you want to renovate your house and call in a construction company? Know that today you are obliged to take out injury/work insurance. If the guarantee of perfect completion obliges the professional to repair your house within a year, this takes over and only begins one year after the actual delivery of the land.

It should be noted that the workers’ compensation insurance covers nine years in a row. It thus ends at the same time as the ten-year insurance. During this time, if you sell your property to a third party, the warranty will automatically transfer to them. So if faults occur and endanger the stability of the infrastructure, the repairs are the responsibility of your insurance company. It should also be noted that compensation occurs quickly, i.e. maximum 60 days.

Ten year warranty

While the project manager is obliged to take out property damage insurance, the professional responsible for the renovation must take out ten-year insurance. This duty is laid down in the Spinetta Law of 4. January 1978. In addition, non-subscription is punishable by 6 months’ imprisonment and a fine of 75,000 euros. Note that the 10-year warranty comes into effect upon actual acceptance of the work. Then, as the name suggests, it is valid for a period of 10 years.

This device is useful in several ways. Not only do you benefit from a quick repayment, but you also ensure that you cover a certain number of damages that may affect the newly renovated house. The cover intervenes, for example, in connection with a lowering of the floor, the appearance of cracks on the outer walls or even a failure at the level of the air conditioner. It will be the same for faulty insulation, a problem with the heating or even the frame. Despite the price, it is an initiative that is definitely worth it.

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