Browse Forums General Discussion 1 May 25, 2010 1:16 pm I am being charged $1500 for builders warranty ins for the 7 years is this usual practice? ************* First time renovator VIC Re: Advice on builders quote for renovation works please!! 2May 25, 2010 2:31 pm Builders warranty insurance is actually mandatory in almost all of Australia (Not Tas or NT) depending on contract value. It is taken out in your name by the builder and protects you for the statutory warranty period of 7 years in most cases. As you are from Vic, it will be with a private insurance company (most likely Vero as only a couple of companies do it) and it protects you if within 7 years there is a problem with the build structurally (2 years for non-structural, ie - plaster). You can claim in the event the builder dies, becomes insolvent or dissapears. Are you able to tell me the contract value? Bearing in mind that different builders get different prices for this insurance. The more you buy, the more you save. The law states work over $12,000 requires builder's warranty insurance. Policy limit: $200,000 for non-completion claims to a maximum of 20 per cent of the contract value Period: Usually three months from handover until six years from the date of completion for structural defects and two years for non-structural. "I never learned a thing until I finished school" - Unknown "You can get anything accomplished, If you don't mind who gets the credit" - Ned Hay Re: Advice on builders quote for renovation works please!! 3May 25, 2010 2:36 pm Thank you! I wasn't sure at all how it worked ************* First time renovator VIC Re: Advice on builders quote for renovation works please!! 4May 25, 2010 2:43 pm there were a few items on the quote that seemed too high also $3000 for 2 standard skylights (im hoping hemeant installed) and 1500 to plumb a tap from under window to new position in island (1.2 m away under a hardwood floor) then again I am not sure of usual quotes for these things... ( waiting for 3 more quotes) ************* First time renovator VIC Re: Advice on builders quote for renovation works please!! 5May 25, 2010 4:27 pm I can understand the plumbing a new tap. There are a few plumbers on here that can give you more detail but there is a lot of time and effort involved in moving it and closing off the old location. Additionally, you have to make good the area you are removing the original from. $3000 does seem a little on the high side for skylights but assuming you are renovating given that you are moving a tap. In that case, they are allowing for working under tight conditions in your roof. Installing skylights before a roof is on, before plaster is in and before insulation & electricals (ducted heating/cooling, lights) is easy and there is room to move about. Installing a couple of these (standard size or not) in an existing residence is far more trickly and the installation will be the driver of the cost you have been quoted. That said, both of these prices seem reasonable enough. "I never learned a thing until I finished school" - Unknown "You can get anything accomplished, If you don't mind who gets the credit" - Ned Hay Re: Advice on builders quote for renovation works please!! 6May 25, 2010 4:29 pm Thanks once again! That is very reassuring to know as this is the only builder that can work within my time frame so if his prices are fair I wont resent having no real choice! humble pie for me tonight! ************* First time renovator VIC Re: Advice on builders quote for renovation works please!! 7May 25, 2010 4:35 pm If you are looking for some difinative costs, follow the link below to find a dealer near you for skylights. most of these guys will give you a rough price and if you visit the velux website, they even have a quoting service. you will quickly learn if you are getting a decent price. Just make sure you are comparing size for size, product for product and installation into existing structure to be fair. http://www.velux.com.au/en-AU/Documents ... r_info/Vic Metro Dealer list 2010.pdf (Copy and paste it as the adress has spaces in it) "I never learned a thing until I finished school" - Unknown "You can get anything accomplished, If you don't mind who gets the credit" - Ned Hay Re: Advice on builders quote for renovation works please!! 8May 25, 2010 4:47 pm thanks for the link - that was part of my confusion I had costed the skylights at approx $450 each so was wondering why it would cost $2K to install but as I mentioned I do not have many options (apart from separating aspects of the renovation and managing them myself) really appreciate the help ************* First time renovator VIC I was being kind to the builder. With the amount charged for the upgrade the builder is probably charging closer to 100% margin. 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