Browse Forums Owner Builder Forum 1 Jun 17, 2009 7:42 pm Hi all, We finally have council approval and are about to start, but just wanted to ask. How many of you are actually using trades that supply home warranty insurance with their service (if over 12k of course)? My understanding is if I wish to sell inside 7 years I need to supply the new owner with the warranty but if I intend on living there for a while e.g. longer then 7 years, Do I need the service provider to supply it as it usually adds $$$ to the quote?? Your thoughts would be most welcome. Cheers Re: Home Warranty insurance 2Jun 18, 2009 12:15 am if any work is over 12k then the tradie has to be insured not you. if you sell within 7 yrs then yes you need it for the remaining time if you live there for more then 7 yrs then u dont need it stay safe happy building Re: Home Warranty insurance 3Jun 18, 2009 2:00 am You should probably just get Building insurance to protect you during construction. The tradies should have their own insurance anyway; but you can public liability insurance within ur building insurance. That way ur protected all ways!! Re: Home Warranty insurance 4Jun 18, 2009 8:54 am Thanks Guys for the feedback, I have public liability insurance for my building site and the trades that I wish to start with have their own liability insurance as well, it was just this home owners warranty that got me confused. But thanks for helping in clearing it all up! Cheers Re: Home Warranty insurance 5Jun 18, 2009 7:16 pm bingoshelley if any work is over 12k then the tradie has to be insured not you. It seems that if they are not a licensed builder (as most aren't) then there is no requirement for them to have any warranty insurance at all no matter what the value of the job. JB 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 2714 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 7936 I apologise for any confusion, but your understanding is correct. We approached our situation differently based on advice from… 11 53226 |