Browse Forums General Discussion 1 Mar 03, 2023 8:56 am Hi All, I am in an interesting spot currently, my builder went in administration with our house about 60% completed. We are about to come out of that process and I have been told that my insurance will end when my original contract is terminated. I know I will get the structure and site insurance once I have a new builder taking over the build but I am trying to insurance the site while I am going through insurance claim and looking for a new builder. I believe I can get public liability for this interim period but nothing on the structure. I have contacted insurance companies direct, brokers & almost anyone else I can think of and no one can give me an answer. We hear of all these builders going into administration with projects half completed so can anyone who has gone through this say how they got their sites and structure insurance while you searched for a new builder? Re: Insurance on mid construction build 2Mar 03, 2023 10:10 am Hey Flacco welcome to the forum That's because trades that haven't been paid are going back to jobs and ripping things out. Why don't you just buy a temp fence, put it up to stop site dumping, theft, damage and someone getting hurt Then you can sell it up on gumtree? Cheers Chris Designer,Engineer (Civil,Const & Envir),Builder,Concrete & Masonry Contract.Struct Repairs Re: Insurance on mid construction build 4Mar 03, 2023 12:32 pm ![]() Hey Flacco welcome to the forum That's because trades that haven't been paid are going back to jobs and ripping things out. Why don't you just buy a temp fence, put it up to stop site dumping, theft, damage and someone getting hurt Then you can sell it up on gumtree? Cheers Chris Thanks Chris Fencing is already sorted, its more if while I am looking for a builder someone jumps said fence and breaks a leg I will be liable as the owner of the property and same if a tree falls on the structure it would not be covered by my previous insurance policy from the first builder in this period between builders. What did the customers in mid-construction stage of other builders that went bust such as Privium, Oracle Homes for example in do for insurance while they looked for builders to complete their homes? Regards Flacco Re: Insurance on mid construction build 5Mar 04, 2023 10:37 pm Try calling Master Builders Insurance Brokers as they place A LOT of contract works insurance and may be able to assist, although I'm pretty sure as you mentioned, you won't be able to insure the existing structure until a new builder is appointed and includes your build under his annual contract works policy. Have a read of this article as it provides some advice on what to do when your builder goes bust depending on the state you live in. https://www.savings.com.au/home-loans/w ... -goes-bust Re: Insurance on mid construction build 6Mar 05, 2023 8:46 am First you need to be a member of MBA to access their legal advice service Secondly, I cant see them handing over money to another insolvent builder. Getting Insurance atm is a major problem for everyone involved. Why isn't the government looking into this Designer,Engineer (Civil,Const & Envir),Builder,Concrete & Masonry Contract.Struct Repairs Re: Insurance on mid construction build 7Mar 05, 2023 2:12 pm No you dont need to be a member of MBA to get advice regarding insurance as MBA Insurance Brokers is the broking arm of MBA and sell and provide advice and general insurance to all builders/tradies/suppliers/professional services etc. I'm a broker and know them well and have dealt with them. If the original poster was to call them, a broker will give guidance over the phone, however it will most likely be that they will have to await a new builder to be appointed who will then pick up their material damage/liability under their annual contract works policy. And I'm not sure what you mean by MBA handing money to another builder? The original poster is just asking if he can insure his partially completed build. Re: Insurance on mid construction build 8Mar 06, 2023 9:38 am Insurance is based on probability-> chance The same applies for building in fire, flood, earthquake, insolvent and theft zones. They don't insure if you are high risk. Also No insurance.... no commissions (humour) Designer,Engineer (Civil,Const & Envir),Builder,Concrete & Masonry Contract.Struct Repairs Re: Insurance on mid construction build 9Mar 06, 2023 10:06 am ![]() Insurance is based on probability-> chance The same applies for building in fire, flood, earthquake, insolvent and theft zones. They don't insure if you are high risk. Also No insurance.... no commissions (humour) is this like you claiming that non compliant stratas are uninsurable meaning the homes are worthless? I think it was pointed out to you that Strata insurance is a requirements by law thus there are insurers insuring these non compliant developments at a premium. And those homes sell on the open market every day, meaning they are not "worthless". You've been told to stay in your lane before because you talk a lot of nonsense. This is one of those times. Generally speaking, you can insure anything, for a price. not being able to afford the price is not tantamount to uninsurable. Besides the OP is not looking to insure an insolvent builder, but the site against theft, public liability and damage while a new builder is sought to complete the work of the insolvent builder, where that new builders insurance will then take over. Before you ramble on your rubbish, you might actually do well to understand what is being asked rather than just shooting off on some stupid tangent that's not relevant to the situation...again. Re: Insurance on mid construction build 10Mar 06, 2023 10:22 am ![]() Generally speaking, you can insure anything, for a price. not being able to afford the price is not tantamount to uninsurable. LOL, it's always the battlers fault... they don't have enough money to sustain the status quo (humour) Designer,Engineer (Civil,Const & Envir),Builder,Concrete & Masonry Contract.Struct Repairs Re: Insurance on mid construction build 11Mar 06, 2023 10:56 am ![]() ![]() Generally speaking, you can insure anything, for a price. not being able to afford the price is not tantamount to uninsurable. LOL, it's always the battlers fault... they don't have enough money to sustain the status quo (humour) you're back on the nonsense train. nothing to do with "battlers fault". were not even having the same conversation anymore. GTFO Re: Insurance on mid construction build 12Mar 06, 2023 11:04 am LOL, you insurance guys always stick together What's the problem Commissions payments decreasing (humour) Designer,Engineer (Civil,Const & Envir),Builder,Concrete & Masonry Contract.Struct Repairs Re: Insurance on mid construction build 13Mar 06, 2023 11:18 am ![]() LOL, you insurance guys always stick together What's the problem Commissions payments decreasing (humour) Dont sell insurance. I'm just not an idiot. Thanks for playing Re: Insurance on mid construction build 14Mar 06, 2023 3:33 pm Thanks for the suggestions everyone, I have had no luck with any pathway regarding this. Seems like I should be able to get public liability for the site (awaiting broker answers) however no luck with the structure. If anyone has been through this process and either got everything until temporary insurance or can confirm that the best I can get is public liability that would be appreciated. Regards Flacco Re: Insurance on mid construction build 15Mar 06, 2023 3:37 pm ![]() Thanks for the suggestions everyone, I have had no luck with any pathway regarding this. Seems like I should be able to get public liability for the site (awaiting broker answers) however no luck with the structure. If anyone has been through this process and either got everything until temporary insurance or can confirm that the best I can get is public liability that would be appreciated. Regards Flacco Speak to another broker. It may be the one you are using hasn't got anyone in their network that does this type of insurance, hence not worth their time. Speak to a couple actually. Re: Insurance on mid construction build 16Mar 06, 2023 8:47 pm Hi Flacco, Unlikely you'll get insurance on the structure. Insurers generally won't provide insurance to a non builder for what is basically a building site - especially at just 60% completion. This is from experience from taking over half complete projects. I've completed one where the owner did get insurance, but this was a bit larger than a single dwelling project that contained fire suppression systems which were already in place and the building was fully secure. A more recent one I've taken over which is a class 1 building, the owner was unable to get insurance at around 80% completion and they are a pretty sophisticated developer. The half compete building was uninsured for about 10 months Quite a few years back I took over a townhouse development with the owner unable to get insurance, but only had the slab down so wasn't as a big a concern from the existing structure cover perspective. That's just my experience, but these types of projects don't happen every day so I can't be absolutely sure it's a no, so hopefully you still can get some cover. Hi all, I've received the unwelcome news that our certifier (BCA Certifiers) has merged into the McKenzie Group. A quick Google revealed McKenzie is the mob that… 0 4965 Not sure which part of Perth you are in, but here is a list i've been gathering of builders who specialise in renovations/extensions. Not sure how many do new builds, but… 1 1273 Such as Mt cotton Morayfield Upper kedron Upper Coomera North Lakes Any more though ? 0 1481 |