Ten-Year Construction Insurance

The Ten-Year Construction Damage Insurance covers, for a ten-year period, the material damages caused to the building by flaws or defects arising from or affecting the foundations and the structure, and which directly affect the building's mechanical resistance and stability.


The damage may be caused by defects in the materials or flaws in the planning or execution.

The damage appears in the basic work and affects the building's stability.

The entire building is guaranteed: foundations, structure, external walls, secondary work, equipment, installations, etc.


Insurance schedule:

> Prior to the commencement of the work:

It is essential to have a geo-technical study and execution project.

Contracting a Technical Inspection Body (TIB).

Project and issue of policy.


> In the execution of the work: The TIB remits the technical reports on the process to the Insurance Company.


> Completion of the work:

The Property Developer delivers the certificate of acceptance, the declaration of definitive value, confirmation of payment of the premium and the final completion certificate to the Insurance Company.

The TIB delivers the D6 work completion report.

The property developer is sent the entry into force endorsement and the legitimated certificate proving the insurance has been duly taken out.

The work can be registered in the Land Registry, and the Deed of Construction Completion can be issued.


In this type of insurance, the Policy Holder is the Property Developer and the Insured Party/Beneficiary is the Property Developer and the successive purchasers of the building.

The value of the insurance will be equal to the final value of the building upon completion. This amount includes the cost of contractual execution, the technical fees for the project, project management, the geo-technical report and inspection body's fees, as well as licenses and taxes.

The Ten-Year Construction policy establishes a relationship between the Insured Party and the Insurance Company over more than 10 years. It is crucial to choose a Company which can provide a good service, with sufficient technical capacity and financial solidity. This is why at Ferrer&Ojeda we endeavour to find the optimal solution according to your characteristics, always complying strictly with the Building Management Act, which obliges the Property Developer to take out a mandatory ten-year insurance policy.



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