Hi all,
Builder has completed the build 1 month prior to the ETA provided, and the PCI and handover is still not complete and has sent my the final invoice and which states that the insurance is lapsed. Should I be making the final payment before the final inspection, which I am planing on scheduling in a few weeks since I am travelling on work.
Is this a common practice, that the builder can lapse the insurance without enough noticed, simply by sending my the final invoice and even before handover. Please advice on what I should do, if I should go ahead and take my own insurance.
Little confused here since I spoke to my friends and they told me that the builders insurance is convered until the day the keys are handed over.
Cheers.
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Browse Forums Building A New House  12 Jun 2019 20 Junior Member Re: builder insurance lapse 2Oct 08, 2019 7:45 pm  brightstarshineLittle confused here since I spoke to my friends and they told me that the builders insurance is convered until the day the keys are handed over. Thats what i thought as well. Fairly certain i read that you need to have insurance from (including) the day you get the keys. Re: builder insurance lapse 3Oct 09, 2019 1:09 am The question is who pays for the insurance until pratical completion? I understand the handover process is complicated, does that mean the work is completed if the keys are not handed over and there a small number of fixes? Hey All, Keen to hear who people are using and who they are underwritten by? No point having an insurance agency if they aren't underwritten buy a company that can… 0 365 if you're using a builder, make sure they have contract works insurance, Public Liability, workers comp and HOW 2 474 Has anyone got title insurance? Do you think its worth while? Opinions please 0 418 |
