Home insurance under construction: how to go about it?
Starting a new project requires preparations so as not to have unpleasant surprises. Building a house is no exception. To avoid any situation that you cannot resolve immediately, home construction insurance is the guarantee that can save your day.
You could continue your work without worrying too much about taking care of any damage that might occur. Find out about the different insurances you need to secure your site.
What type of home construction insurance should you purchase?
There are several categories of insurance that cover various goods. To insure a house under construction, structural damage insurance is your first resort. As with any other insurance, it is responsible for reimbursing the indemnities linked to the risks during the performance of the work.
Structural damage insurance allows you to cover all repairs that may occur without waiting for a court decision to rule on possible persons responsible.
Subscription to this insurance is compulsory for the owner of the house under construction and also for the owner in charge of the work. Insurance must be taken out before the start of work in order to avoid any legal sanction. It is valid for 10 years.
The client, responsible for the site, must also take out damage insurance for the work. However, it is only the owner who benefits from this insurance and decides to engage the responsibility of the owner in the event of damage caused.
The latter can be either the owner in question, or the seller or the agent of the property of the owner.
It is important to choose your insurance carefully so as not to find yourself facing uncomfortable situations. Among the coverages that will be offered to you, be sure to choose the one that your budget can support. This is an important step in purchasing home construction insurance.
As part of this insurance, it is important to imagine the worst to better anticipate: fire, theft (of equipment on the site), defective ground, and many other causes. Of course, your insurance could be multi-risk in order to limit unpleasant surprises, so you will have to compare prices and quotes to choose the right one. By the way, don't forget the ten-year guarantee and the civil liability.
home insurance under construction
What are the penalties for non-subscription?
Failure to take out home construction insurance exposes you to three types of penalties, which are legal and personal, respectively.
Regarding the first part, the law provides for a prison sentence of ten days to six months and a fine of up to several thousand euros, which will only slow down the progress of the work. The second part engages you and no one else.
You will be obliged to reimburse everything and accept full responsibility in the event of major damage.
This could lead you to take out a loan to repay, which is undesirable. It is best to take out insurance to protect yourself against possible risks.
The last part concerns the client, who will take full responsibility, in the event of a sale, for all damage resulting from the lack of insurance vis-à-vis the potential new owner.
All the same, it should be noted that these sanctions do not apply when it comes to self-construction or self-rehabilitation.
That is, the work will be carried out by you for the installation of your family or yourself. Nevertheless, if it is put on sale, you will have to take out insurance at the risk of seeing you sanctioned.
As noted above, the ideal is to do this before the start of the work. However, purchasing home construction insurance can be done long after the work has started. You must ensure that after the main work is done, the construction is waterproof and covered. In other words, keep the house out of the water and out of the air.
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