Ten-year insurance: coverage specifics for the self-employed

Nowadays, more and more professionals choose the status of self-employed person to start and run their activity in the construction industry. This legal status offers entrepreneurs great management flexibility and many other benefits. However, to work in the construction industry as a self-employed person, it is important to take out some insurance to protect your work. The ten-year insurance is among the most important coverages. This allows you to cover any defects in your works for 10 years. Discover the specifics of this insurance for the self-employed here.

How does ten-year insurance work for the self-employed?

Ten-year insurance is very important coverage for construction and renovation professionals. This insurance is also called a ten-year warranty mandatory for all construction professionals, including self-employed people. Whether you are a bricklayer, electrician, plumber or architect doing business under the status of a micro-enterprise, you need to take out a ten-year guarantee. It covers for a period of 10 years structural defects that could affect the strength of the structure or make it unsuitable for its intended purpose. The 10-year warranty also covers ground defects, as well as all defects, imperfections and bad construction.

As a self-employed person, if you take out insurance for ten years, Your insurer undertakes to cover the costs associated with repairing damage or defects construction on your works. In the event of damage to covered works, you will receive compensation for the repair of the damage. In order to be indemnified by your ten-year defect insurance, you must notify your insurer immediately after a client complaint and request indemnification. After receiving the request, the insurance expert assesses the damage and determines its nature and extent. He then investigates the validity of the claim and estimates the cost of repair or replacement.

How will ten-year insurance protect the self-employed?

PUSH ten-year warranty offers a number of benefits to self-employed people working in the construction industry. Taking out this insurance offers you optimal protection in the performance of your work. A construction professional’s contractual liability may arise in the event of problems or hidden defects in their work. If the project owner discovers non-conformities or other defects in the work performed, the builder is responsible. So they have to repair the damage.

However, construction work often involves high costs. Although it is a renovation work, repairing defects can cost you dearly. Unforeseen expenses that may arise in the repair of defects in your work represent a real financial risk to your business. In order to avoid possible financial problems, it is ideal to take out insurance for ten years. This coverage allows you to avoid unforeseen expenses by covering the repair of defects on all covered parts. It ensures the sustainability of your business.

In addition, take out a ten-year self-employed person insurance is a great way to protect you legally. If there is a serious defect in one of your works within 10 years of its completion, the client can file a lawsuit. By covering all defects and poor workmanship in your work, the ten-year warranty allows you to avoid potential disputes that could lead to legal action. Buying this cover also allows you to attract new clients as it builds professional credibility. With ten years of insurance, your potential customers will feel more secure. They will easily be able to entrust you with the implementation of their projects and recommend you to other people.

Risks associated with the absence of ten-year insurance

Arranging ten-year insurance is a legal obligation for all self-employed persons working in the construction industry. He introduced this legal obligation Spinett’s Law. In the absence of ten-year insurance, self-employed persons take numerous risks. In addition to repairing the damage at her own expense, she may be subject to legal penalties.

If your work is not insured, you can be fined up to €75,000 and imprisoned for up to 6 months. Another consequence associated with the absence of a ten-year warranty is the poor the reputation of the self-employed. If you have been convicted once for not having insurance, your reputation will be damaged. You will lose your old customers and have difficulty finding new projects. It is therefore in your interest to take out ten-year insurance for your business.

What are the costs of ten-year insurance for the self-employed?

Ten-year self-employed insurance does not have a fixed price. Insurance companies freely set the prices of their policies based on several factors. They take into account above all activities of micro-enterprises determine the price of insurance contracts. For example, a ten-year warranty for a self-employed bricklayer may cost an average of €1,600, while a warranty for a self-employed electrician is €750.

The price of this insurance also depends on the professional experience of the self-employed, their turnover and the type of work performed. If you are uninsured for a long time, it can also make your ten-year warranty more expensive.

How to choose the best ten-year self-employed insurance?

There are many ten-year self-employed insurance policies on the market. Different policies offered by insurers do not have the same features and do not offer the same level of protection. To ensure optimal protection for your activity, you have to choose coverage tailored to your needs. Every self-employed person is truly different and has their own insurance needs. When choosing your ten-year warranty, you must first consider the guarantees offered by the policy. The guarantees of your ten-year insurance must adapt to the specifics of your profession and offer you better protection. To get an idea of ​​the coverage you need, properly assess the various risks associated with your business.

In addition, the ten-year warranty does not cover all losses that may occur to the structure. Certain defects or defects may be excluded from this coverage. These include, for example, damages caused intentionally or through negligence and maintenance-related problems. You will not be compensated for any loss associated with these situations. When choosing an insurance policy, you must therefore be interested in warranty exclusions. Check each contract for possible exclusions so you can choose the policy that benefits you the most. Make sure you understand the various exclusions before signing up with an insurer to avoid any unpleasant surprises.

Deductibles are an important criteria to consider when choosing a ten-year insurance policy. It represents the amount that the insurance does not cover and for which the insured remains responsible in the event of an insured event. Choose the insurance it offers franchise adapted to your financial possibilities. The cost of insurance is another important factor that you need to consider when choosing coverage. To get the best price for a ten-year warranty, the best solution is to compare the offers of several insurers and choose the most economical option. It is also important to check the warranty limits when choosing a ten-year insurance policy. The limit your insurance offers should be high enough to cover the cost of repairing significant damage.

With these different criteria you can choose the best insurance for your micro business. However, if you are still having trouble choosing the right one, you can call a broker specializing in ten-year insurance. This professional can help you find the best contract to protect your works. You can also use an online comparison tool to choose your ten-year insurance policy. In fact, there are many sites that specialize in comparing insurance policies. With these online tools, you can compare multiple policies with a few clicks and find the coverage that best suits your needs.

Take out ten-year self-employment insurance with a reliable insurer

In France, many insurers offer ten-year self-employed insurance. To ensure effective protection of your guns, you need to take out a ten-year warranty with a reliable insurer. To find a reliable insurer, you can rely on recommendations from those around you. Word of mouth is a great way to find a serious and reputable insurance company. If you know an insured self-employed person, do not hesitate to contact them for a referral.

It is also possible to find reliable insurance companies online. Most insurers that offer 10-year self-employed insurance have websites. Visit these pages to learn more about the various offers available. Be sure to check the reputation of these insurers online by reading their customer reviews. Reviews and testimonials from other self-employed people on the insurer’s website can help you get an idea of ​​the quality of services offered by the insurer. To make sure you are dealing with reliable providers, take the time to talk to the insurance companies you are interested in assess their professionalism.

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