Browse Forums Building A New House 1 Feb 24, 2022 8:20 am What is the difference between construction Insurance Vs home building compensation (HBC) insurance? According to SIRA "Home building compensation cover is only available from a single provider operated by the NSW Government – icare HBCF. icare distributes its insurance product only through brokers it has approved and which are published on its website. There are no other licensed insurers or providers authorised to offer home building compensation cover in NSW." https://www.sira.nsw.gov.au/insurance-c ... %20defects The insurance that I have from my builder is not listed and is Construction Insurance and is the cover the same as HBC? "where the contracted building work is incomplete or defective and the builder has either died, disappeared, become insolvent, or the licence of the builder is suspended for failure to comply with a compensation order in favour of the homeowner made by a Court or the NSW Civil & Administrative Tribunal (NCAT)." Hi, Would you please share some photos of your Orlando 20 HBC build? I would like to get some insight on the living and dining area. Thank you 0 1653 Hi Suku18 In NSW the statutory required insurances are: 1. HBCF ( Home Building Compensation Fund) - This is if the builder dies or goes broke. But this only covers 20%… 1 2762 Hi there, long-time lurker but first time posting. I've bought a house 2 and a bit years ago and last year we had some major water damage on a converted pergola area… 0 7963 |