Browse Forums Owner Builder Forum Re: Owner Builder - Problem getting HBCF Policy from Subbies 2Oct 16, 2017 5:29 pm Coverforce Allrisk Owner-Builder Insurance Experts http://allrisk.com.au/owner-builder-insurance-quote/referrer/HomeOne Re: Owner Builder - Problem getting HBCF Policy from Subbies 4Apr 25, 2018 10:15 pm Arnie1989 Hi All, As an Owner Builder, I’ve got a question regarding the HBCF policy – The HBCF policy is an insurance policy that covers the cost of defective works for 6 years after construction. Typically, the HBCF policy is taken out by the Licensed Builder/Building Company, and covers all the works completed by their subcontractors. However, as an Owner Builder, I am not able to take out a HBCF policy. Instead, I have to ensure that my subcontractor takes out a HBCF policy for any contract works over $20k. The issue is that most subbies are accustomed to working for Licenced Builders/Building Companies, and they are unsure how to/unwilling to take out a HBCF policy. This is making it extremely difficult for me to get them signed onto a contract, and get the works started. Potential solutions – 1) Break the contract works into smaller contracts (under $20k), so no HBCF policy is required 2) Engage the contractor to commence work without the policy in place, even though the contract works are over $20k 3) Engage a builder to do the works (this defeats the purpose of Owner Building, and I do not want to have to do this) Does anyone have any suggestions? If I was to go with solution 1 or solution 2, what would be the repercussions, if any? Thanks in advance. what state are you in ? I apologise for any confusion, but your understanding is correct. We approached our situation differently based on advice from… 11 53172 All 3 items listed are defects and are of concern. Please seek qualified independent inspector and/or legal advice for your state. 1 8203 |