Browse Forums Building A New House 1 Nov 15, 2011 6:06 pm Here's a question for you.... At what point did you get building or contents insurance. What it when the house was handed over to you? What happens if say you are about to commence the internal fitout. Who would be responsible if the house burnt down for instance? K Building contents insurance 2Nov 15, 2011 7:29 pm Up until the house keys are in your hand the building is covered by the builders insurance. This is other then if you have provided any fittings yourself - in which case you would need to confirm whether the builder is willing to cover them as well. IE We built a home and did the kitchen ourselves as well as some bathroom fittings. These were not covered by the builders insurance and at that time no ins co would cover them. So we just has to hope all would be ok. Then our builder went bankrupt and we managed to cancel the contract and obtain ownership. The trip back from collecting all the certificates and keys was spent on the mobile ph obtaining house and contents insurance as well as arranging for a locksmith to change all locks. Some things are worth waiting for. 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 2709 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 I apologise for any confusion, but your understanding is correct. We approached our situation differently based on advice from… 11 53197 |