Browse Forums Building A New House Re: Experience with HBCF insurance claim process NSW 8Mar 14, 2024 3:11 pm We are Expert Consultant's, and we are here to help. Re: Experience with HBCF insurance claim process NSW 14Jul 27, 2024 9:24 am Hi, I hope this helps. Icare took 4 months to settle our claim. We prepared a Scott schedule outlining rectification/variation costs and submitted it to our new builder, and they provided thier quote which we gave to Icare. Typically, Icare provides 20% of the contract price for incomplete works, with additional costs for defects. For example, if the contract price is $600k, Icare would initially pay $120k. If the rectification cost is $80k, Icare would pay a total of $200k. You can also claim rent, storage costs, legal fees, and inspection fees, capped at $340k. It's important to justify your claims and present all possible expenses. It's advisable to make defects appear more serious than they are, as additional issues may arise later. You can continue to make claims with Icare as the new builder progresses until you reach the cap of $340k. In regards to “pay you in excess for final stage payments”. Im assuming you mean, if the final payment is $50k will Icare just give the $50k or give the full $340K. Icare sees it like, Did the builder build correctly? If the answer is yes, then you can’t claim for defects but you can claim for incomplete work which is 20% of your contract price, so you should get $120K. But that’s why you need to find defects, it could be very minor such as the door height is wrong. Everyone’s case is different so just be careful how you go about it. Re: Experience with HBCF insurance claim process NSW 15Jul 27, 2024 9:35 am ![]() Hi, I hope this helps. Icare took 4 months to settle our claim. We prepared a Scott schedule outlining rectification/variation costs and submitted it to our new builder, and they provided thier quote which we gave to Icare. Typically, Icare provides 20% of the contract price for incomplete works, with additional costs for defects. For example, if the contract price is $600k, Icare would initially pay $120k. If the rectification cost is $80k, Icare would pay a total of $200k. You can also claim rent, storage costs, legal fees, and inspection fees, capped at $340k. It's important to justify your claims and present all possible expenses. It's advisable to make defects appear more serious than they are, as additional issues may arise later. You can continue to make claims with Icare as the new builder progresses until you reach the cap of $340k. In regards to “pay you in excess for final stage payments”. Im assuming you mean, if the final payment is $50k will Icare just give the $50k or give the full $340K. Icare sees it like, Did the builder build correctly? If the answer is yes, then you can’t claim for defects but you can claim for incomplete work which is 20% of your contract price, so you should get $120K. But that’s why you need to find defects, it could be very minor such as the door height is wrong. Everyone’s case is different so just be careful how you go about it. Hi Sydney Psss I'm on the same situation now,just found out that my builder is on liquidation, I have paid him 85%already even though the job is probably on 60%. I'm gonna hire a building inspector like you did and a builder as well. Can you please share me your builder's contact details. Thanks for sharing your experiences yo us, it's very much appreciated. Regards Alvin Re: Experience with HBCF insurance claim process NSW 16Sep 04, 2024 9:31 pm Hi everyone, Sorry to hijack this post but we have just been told our builder has gone into liquidation and we are at practical completion. The liquidators have told us today to contact hbcf to claim insurance for the unfinished work and defects. Several people have told me we need to seek legal advice prior to lodging our claim, but I just don't understand why? Has anyone needed legal advice prior to claiming through Hbcf? Re: Experience with HBCF insurance claim process NSW 17Sep 05, 2024 4:20 am ![]() Hi everyone, Sorry to hijack this post but we have just been told our builder has gone into liquidation and we are at practical completion. The liquidators have told us today to contact hbcf to claim insurance for the unfinished work and defects. Several people have told me we need to seek legal advice prior to lodging our claim, but I just don't understand why? Has anyone needed legal advice prior to claiming through Hbcf? Hi Blossom Sorry to hear. I hope you don't mind me asking what is possibly a dumb question....I haven't been in your position before so I don't understand the process. My question is, if you are at PC, why do you need to lodge an insurance claim? Like what is your loss that you need to be compensated for? Your home is finished so why can't you just move in. ICARE will still cover your 6 year structural warranty won't they? Again, I don't understand the process, I just pay them a ton of money every year so you probably have a very good explanation Cheers Simeon Architectural Homes & Duplexes - specialising in custom designing homes to your budget Get a Free Onsite Consultation Today or send a PM for information, questions or advice. Re: Experience with HBCF insurance claim process NSW 18Sep 05, 2024 6:34 am ![]() ![]() Hi everyone, Sorry to hijack this post but we have just been told our builder has gone into liquidation and we are at practical completion. The liquidators have told us today to contact hbcf to claim insurance for the unfinished work and defects. Several people have told me we need to seek legal advice prior to lodging our claim, but I just don't understand why? Has anyone needed legal advice prior to claiming through Hbcf? Hi Blossom Sorry to hear. I hope you don't mind me asking what is possibly a dumb question....I haven't been in your position before so I don't understand the process. My question is, if you are at PC, why do you need to lodge an insurance claim? Like what is your loss that you need to be compensated for? Your home is finished so why can't you just move in. ICARE will still cover your 6 year structural warranty won't they? Again, I don't understand the process, I just pay them a ton of money every year so you probably have a very good explanation Cheers Simeon Hi Simeon, We still have some incomplete work, nothing major, but it is still work that's part of the contract and a requirement for our build. Our roof also hasn't been built to standard and needs to be rectified. Until this work is done we can't get an OC. We've been pursuing the builder for a while now, had a letter of demand sent and been to the building commission not too long ago who contacted them, builder said they know they have to do the work and now they have gone into liquidation. Re: Experience with HBCF insurance claim process NSW 19Jan 31, 2025 1:46 pm Hi there, Has anyone experience making a claim through iCare due to their builder going into temporary restructuring? Re: Experience with HBCF insurance claim process NSW 20Jan 31, 2025 4:05 pm Hi,I've lodged my claim on August 2024 but until now they haven't give me the result of their assessment. DIY, Home Maintenance & Repair The workmanship is lifetime guarantee by "the insurer", not the builder. They will of course ask the initial builder to rectify and if they don't they will appoint… 7 19180 thanks emmab the home is an extension and renovation and it was less than 10 years ago 4 9908 On the day liquidated damages kicked in, I texted my SS "Good morning and happy "Today liquidated damages begins today day!" We had a little over 3 weeks claim and no… 1 11867 |