New construction: How long?

new construction

How long is a property considered a new construction?

The 10-year insurance for new buildings: What is covered and what is not?

What does the ten-year insurance cover?

  • Foundation defectsAny failure in the foundations that jeopardises the stability of the building.
  • Defects in the structureThis includes problems in pillars, beams and other structural elements.
  • Partial or total collapseIn the event that part or all of the building is compromised by construction defects.
  • Damage caused by structural defectsIf these defects affect other parts of the dwelling, such as walls, floors or ceilings.

What is not covered by the ten-year insurance?

  • Minor cosmetic flawsSurface cracks, defects in finishes, paint or coatings are not covered, as they do not affect the structure of the building.
  • Installations and systemsTen-year insurance does not cover problems related to electrical installations, plumbing, heating or air conditioning, unless they are directly related to structural failure.
  • Defects in use or maintenanceIf the problem arises due to misuse or lack of maintenance by the owner, the insurance will not cover it.
  • Damage caused by third parties or external eventsNatural disasters, acts of vandalism or accidents are not covered by this insurance, as they are considered external causes.

Are there other coverages for new construction?

  • One-year warranty: Covers finishing defects or minor damage that may affect the habitability of the property. This guarantee lasts for one year from the handing over of the keys.
  • Three-year warrantyCovers any problems or defects that may affect the habitability and functioning of the dwelling, such as water leaks or problems in the installations, which do not compromise the structure but make life in the property difficult.

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