unión 10-year
Description
Unión 10-year is insurance relating to the completion of a build in order to comply with Spain's Building Act (Ley de Ordenación de la Edificación). It must be taken out at the start of the building work and it will cover the building for 10 years from the end of the works against any damages affecting the structure and directly compromising the resistance and stability thereof.
Basic and optional coverage
El seguro unión 10-year insurance aims to improve build quality and to apportion responsibility therefore. There are certain guarantees with a duration of 1, 3 or 10 years, with the 10-year guarantee being obligatory, during which time all the agents involved in the build will answer to the purchasers or affected parties for vices in the building, and there is also a range of insurance policies that ensure the reparation of the material damages suffered by the building due to said vices.
Unión Alcoyana de Seguros y Reaseguros S.A.