Browse Forums Building A New House 1 Jun 14, 2016 10:15 am VMIA - Compulsory house insurance. Is it a rort? I just saw a story on" Today" channel 9 this morning. VMIA collected $108 million in premiums and only paid out about $108,000 on 3 claims in a 12 month period if I recall the story correct. If that is the case, what a rort. Anybody have an experience with their claim with VMIA they can share? Any opinions from anybody else regarding the VMIA. I had a policy during my build. It doesn't sound like my policy is worth anymore than the paper it is written on. Re: VMIA- Compulsory House insurance 2Jun 14, 2016 11:25 am We were very grateful for the insurance as our builder went into liquidation after we'd paid a 5% deposit. The VMIA processed the claim within 2 weeks. Without this insurance we would have lost our money. As with all insurance we pay for the protection and the hope we don't need to use it! KDR - Hawkesdale (DFH) KDR Under the Flight Path - Dennis Family Homes (Hawkesdale) Re: VMIA- Compulsory House insurance 3Jun 14, 2016 11:38 am rondy We were very grateful for the insurance as our builder went into liquidation after we'd paid a 5% deposit. The VMIA processed the claim within 2 weeks. Without this insurance we would have lost our money. As with all insurance we pay for the protection and the hope we don't need to use it! Thanks for feedback KDR - Hawkesdale (DFH) Re: VMIA- Compulsory House insurance 4Jun 14, 2016 6:40 pm This insurance should be extended to all building and not just residential building. Multi residential building above 3 storey doesn't get covered Our previous builder has been refused insurance by VMIA because of his history of incomplete building works. However, he has managed to get building insurance through… 0 502 I'm wondering if anyone knows what the requirements are of a builder to be eligible to hold Domestic Building Insurance for proposed works. https://www.dbi.vmia.vic.gov.au… 0 2586 Not back peddling at all. You seem to have issues with comprehension my friend. Guy fcked up, he's considering being dishonest with his bank and hiding it. It will end… 21 12566 |