Browse Forums Building A New House 1 Sep 27, 2009 5:09 pm Hi All, I am just about to start building and have been recommended to take out public risk (liability) insurance for the period of the build for $10M. Is this common for people that are building to take out this insurance? Any recommendations on an insurer? Cheers, NQDOG Re: Public Liability Insurance 2Sep 27, 2009 5:23 pm Dont know how common it is but we certainly didnt do it - cant see the point, until handover we did not own the house anyway Builders are responsible for insurance until then Unless you are an owner builder, perhaps Re: Public Liability Insurance 3Sep 27, 2009 5:33 pm Not sure of your specific circumstances? If you are an owner builder, maybe. Otherwise, I don't see why you would need it (but I'm no expert). Tradies are supposed to all carry their own public liability insurance, and about 10 million is standard. I have 10 mill myself. Re: Public Liability Insurance 4Sep 27, 2009 7:46 pm We were advised to take Public Liability - ended up getting $20M cover which was for 12mths or the end of the build, whichever came first. Built into this is insurance for theft of any materials/building supplies etc. You just never know - I think it's worth it for peace of mind. Jazz Life is like a lolly, suck it and see Re: Public Liability Insurance 5Sep 27, 2009 9:26 pm Quote: We were advised to take Public Liability Just curious Jazzie - advised by whom? Quote: Built into this is insurance for theft of any materials/building supplies etc Theft and/or vandalism of materials and building supplies is covered by Builders Insurance which it is compulsory for them to have and compulsory for them to give you a copy of - well, here in SA anyway. Re: Public Liability Insurance 6Sep 28, 2009 6:29 am Thanks for the feedback. I am not an OB. My understanding is that it was to cover myself should someone (not a builder or contractor) come onto the property during construction and injure themselves. Apparently I could be be personally liable (solicitors advice). Seems ridiculous to me that someone with no right can come onto your property, get injured and hold you personally liable for their stupidity. Probably won't go out and get it, but I was interested what others thought on the issue. Cheers, NQDOG Re: Public Liability Insurance 7Sep 28, 2009 8:13 am Helyn Quote: We were advised to take Public Liability Just curious Jazzie - advised by whom? Quote: Built into this is insurance for theft of any materials/building supplies etc Theft and/or vandalism of materials and building supplies is covered by Builders Insurance which it is compulsory for them to have and compulsory for them to give you a copy of - well, here in SA anyway. Hi there, well firstly our architect 'advised' us to get the insurance cover which covered any tradesmen working on our property or anyone really who was there and when I rang around for quotes, GIO who we went with, told me it also covered any theft from property whilst being built I just figured that it covered both, so went with it Jazzie Life is like a lolly, suck it and see Re: Public Liability Insurance 8Sep 28, 2009 8:19 am nqdog Thanks for the feedback. I am not an OB. My understanding is that it was to cover myself should someone (not a builder or contractor) come onto the property during construction and injure themselves. Apparently I could be be personally liable (solicitors advice). Seems ridiculous to me that someone with no right can come onto your property, get injured and hold you personally liable for their stupidity. Probably won't go out and get it, but I was interested what others thought on the issue. Cheers, NQDOG Yep, that's my understanding too I agree that's it's totally rediculous that anyone can come onto your property, get hit on the head with a hammer for being in the wrong place & then can sue But that's how the system works apparantly However, we took out the insurance and since we've started, a lot of mates have been down there helping out, so maybe it's a good thing if there was a serious injury BTW we've heard of those thieves who get seriously injured while robbing some joint & then sue the mob they are stealing from - or is that only in America Jazz Life is like a lolly, suck it and see Re: Public Liability Insurance 9Sep 28, 2009 8:20 am nqdog Thanks for the feedback. I am not an OB. My understanding is that it was to cover myself should someone (not a builder or contractor) come onto the property during construction and injure themselves. Apparently I could be be personally liable (solicitors advice). Seems ridiculous to me that someone with no right can come onto your property, get injured and hold you personally liable for their stupidity. Probably won't go out and get it, but I was interested what others thought on the issue. The HIA building contract makes mention that for the period of the build, the land is under the control of the builder. For this reason, any injury, theft etc during the build is the responsibilty of the builder and thier insurance. This is the reason some builders won't install appliances until after handover, as their theft and associated damage is thier problem. The builder should give you a copy of thier insurance cover when you sign contracts. Re: Public Liability Insurance 10Sep 29, 2009 7:33 am nqdog Hi All, I am just about to start building and have been recommended to take out public risk (liability) insurance for the period of the build for $10M. Is this common for people that are building to take out this insurance? Any recommendations on an insurer? Cheers, NQDOG Cupcake.girl This really depends on your local council. Each one has different definitions and ways to calculate contributions. This is called a contribution… 1 3580 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 7929 |