alleycat Posted April 17, 2009 Share Posted April 17, 2009 Does anyone know if there are specialised insurance companies that deal with this kind of obligatory insurance for builders? I have just been given a quote that seems pretty steep to me (2,650 euros annually and extra 54 euros if you pay monthly!) and would like to get other quotes to compare. My quote is from a well known insurance company so I expected it to be top wack but a more specialised buildings insurance company perhaps, might be more sensible? Any information or assistance on this would be very welcome - thanks. Link to comment Share on other sites More sharing options...
BJSLIV Posted April 17, 2009 Share Posted April 17, 2009 DO is a one of purchase so I assume your reference to annually is for payment in 12 installments.The premium is based on the cost of the property under construction and will vary according to the track record of the builder. I seem to remember figures of 4 to 6% of the contract sum being typical the last time I looked which was about 7 years ago. Link to comment Share on other sites More sharing options...
alleycat Posted April 17, 2009 Author Share Posted April 17, 2009 How can this be a one off cost? I am requesting information on behalf of a friend who is an experienced long standing builder by trade and before he can work here in France he is told that he MUST have this insurance to safeguard all his clients and the work he carries out. So, unless I have it wrong here, I assume he will have to maintain this insurance for as long as he works on properties and projects for people? It's specific to the building work he does and covers the clients for 10 years - bit like our NHBC cover I guess? Link to comment Share on other sites More sharing options...
BJSLIV Posted April 17, 2009 Share Posted April 17, 2009 and covers the clients for 10 years That would be the decennale insurance. The DO is an insurance which is the responsibility of the person having the work done, but usually/often orgainised by the builder which covers the buyer against deficiencies in the Decennale cover of the builder.I sometimes wonder whether anyone, other than us, ever bothers to get DO. Sure its a legal requirement, but seems to be very hard to obtain and even harder to to make a succesful claim. A bit like the UK equivalents you mentioned....... Link to comment Share on other sites More sharing options...
alleycat Posted April 18, 2009 Author Share Posted April 18, 2009 Right, we seem to be on the same page now. Certainly I'm sure lots of people don't bother, but our friend really doesn't want to fall foul of any potentially expensive and complicated snags should they arise for whatever reason - he's keen to be properly set up with no room for unhappy mistakes for lack of being on the ball. He is well aware that this insurance will very likely not be either needed or in most events, difficult to claim on - he's inclined to think it's a complete waste of time and a large amount of money he's not overly pleased to be parting with right now! The insurance company in question is quite happy to cover him and provide him with the 'certificate' to show clients before starting a job etc., but he's just looking to bring the premium down a little if he can - 2650 euros took his breath away a bit! Link to comment Share on other sites More sharing options...
PaulT Posted April 18, 2009 Share Posted April 18, 2009 [quote user="alleycat"]Right, we seem to be on the same page now. [/quote]Alleycat seems like you were on the wrong page by quoting the wrong insurance as per BJSLIV post and then getting shirty when someone told you that the insurance you stated was a one off payment, which would seem correct. The one that BJSLIV stated is the annual one. Link to comment Share on other sites More sharing options...
alleycat Posted April 18, 2009 Author Share Posted April 18, 2009 I apologise to BJSLIV if I appeared 'shirty' - certainly wasn't my intention but if I came across as being so, then I'm sorry - not that kind of person actually and have never been accused of being such before. I was told that the DO was the insurance I was trying to ask about - but clearly I was wrong. I stand corrected but am still confused and actually nobody has yet give me any pointers as to how much the quotes might be and if there are indeed any insurance companies that specialise - so if you guys out there know all about this particular insurance do you have that information per chance? Link to comment Share on other sites More sharing options...
Nick Trollope Posted April 18, 2009 Share Posted April 18, 2009 For a general builder, 2650€ per year sounds pretty cheap, I'm afraid. Most I know pay (or are supposed to pay) about 4K€.But, it is available everywhere, so he could a) ask his/your bank b) go down the high street c) use one of the specialist such as PROBTP. Link to comment Share on other sites More sharing options...
alleycat Posted April 19, 2009 Author Share Posted April 19, 2009 Thanks for that Nick - he has been to the bank and the high street but a specialist company was what I was after -THANKYOU! After we have quotes from all three we will have done our homework and will have to bite the bullet. Many thanks. Link to comment Share on other sites More sharing options...
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