Browse Forums General Discussion Re: [NSW[ Home building Compensation Fund (Insurance) 2May 23, 2021 7:45 pm world2160 Hi all, I am coming across a builder who has 2 licenses - 1 for himself and 1 for his company (where he is the director). 1. License for himself is "ONLY FOR CONTRACTS NOT REQUIRING INSURANCE UNDER THE HOME BUILDING COMPENSATION FUND" 2. License for his company has not such restriction. Yes he can provide insurance certificate for the PCA. What's the implication of this? Anything I should be worried about? My build is over $20k This is very normal, its because the business goes through the assessment process with ICARE not the licensed builder. the main thing is that you get the certificate, if he has that you are all good and can sleep at night Simeon McGovern Affordable Custom Homes, We design and build to your budget Ashington Homes www.ashingtonhomes.com.au Re: [NSW[ Home building Compensation Fund (Insurance) 3Jan 26, 2022 8:40 am Main thing is that you contract with the company and receive the insurance certificate in the name of the company. No other variation will protect you ie contract in personal name but insurance in company name or vice versa. I havent, and i havent looked to much into it, but on face value its not the saviour its trying to make out to be. Shared equity in your home is never a good idea. The… 1 4034 I apologise for any confusion, but your understanding is correct. We approached our situation differently based on advice from… 11 53602 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 2789 |