Builders Warranty Insurance is a legislative requirement under State/Territory law in NSW, ACT, VIC, SA and WA for contracts over $12,000 (or $20,000 in WA). It protects homeowners from faulty workmanship or non-completion of a contract if the builder dies, disappears or becomes insolvent.
Builders Warranty Insurance can also be called "Residential Warranty Insurance" or "Home Warranty Insurance" depending on which insurance company you arrange your policy through.
Builders and Tradesman require a home warranty insurance certificate of insurance to be issued in favour of the homeowner before a residential construction (three levels and below) or home renovations of $12,000 and up, can commence.
To arrange Builders Warranty Insurance you must first lodge an eligibility application to set up your profile with the insurer, then once you have been approved you are able to arrange cover Certificates easily by completing a job specific form for each new job requiring cover, there is no need to resupply your extended company details each time.
If you are an owner builder you are not required to complete an eligibility application.
If you are unsure which form to complete, have any queries, or would like to return a completed form please contact us.
Owner builders must complete and lodge the form below;
All Builders must complete an Eligibility application form below prior to arranging job specific Builders Warranty Insurance
Once you have been accepted as Eligible for Builders Warranty Insurance by the insurer you are then able to arrange Builders Warranty Insurance on a job specific basis.
Should your annual turnover exceed $5m AUD where it was not previously, or should you require changes to limits or other general information on your Builder Profile you are able to request these changes to you profile using the form below;
To obtain a quotation or further information on Builders Warranty Insurance you can contact one of our experienced insurance brokers on 1300 503 503.
Alternatively, click here to complete a Builders Warranty quote request online.
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