If construction defects only become apparent after acceptance of the building, it can be difficult to assert your claims. With contractors' guarantee insurance, companies have the security of knowing that any such defects in their construction projects will be remedied. All tradesmen's businesses and companies involved in the construction are automatically included in the insurance.
Every company involved in the construction is liable for construction defects for five years following acceptance of the building. Even when the work has long since been accepted. AXA ensures the correction of hidden defects with a work guarantee if the executing firms are unwilling or unable to do this themselves (e.g. following bankruptcy).
Download: Contract documents for a building guarantee
For construction companies AXA offers a building guarantee portal for the time-saving handling and online management of all required building guarantees.