Decennial Damage Insurance
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| The LAW 38/1999, of November 5, of Ordination of the Construction demands the real state promoter the obligatory subscription of a decennial insurance of material damages or of caution to guarantee, during 10 years, the indemnity of the material damages caused in the building by bad habits or defects that have its origin or affect to the foundation, the supports, the beams, etc, and that they commit the resistance and stability of the building directly. In the same way, they won't be authorized neither they will register in the registration from the property public writings of declaration of new work of constructions to those that it is of application this law. |
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| Basically, it guarantees the compensation or repair of the damages caused in the building according to the obligatory guarantee that indicates the article 19, remote 1.c) of the L.O.E.. As guarantees complemetaries to the obligatory guarantee the insurance covers: expenses of rubbish and/or demolition, mechanical resistance and stability of facades non ambles, waterproofing of covered and facades and indexation of guarantees and frank. |
| The drawee of this insurance is the promoter, being the insureds the own promoter and the successive acquirers of the building or on behalf of the same one. The amount to assure is the definitive value of the education (building + urbanization) in the moment of the reception whose amount understands the execution cost for it hires, technical honorarium, licenses and taxes. |