Browse Forums Building A New House Re: Home warranty insurance 3Jan 24, 2022 12:30 pm Regards, Colin Operations Director Homebuildguide.com.au Click Here For A Free eBook About Custom Home Building Re: Home warranty insurance 11May 22, 2023 10:34 am Architectural Homes & Duplexes - specialising in custom designing homes to your budget Get a Free Onsite Consultation Today or send a PM for information, questions or advice. Re: Home warranty insurance 13May 23, 2023 5:30 am Architectural Homes & Duplexes - specialising in custom designing homes to your budget Get a Free Onsite Consultation Today or send a PM for information, questions or advice. Re: Home warranty insurance 15Jun 20, 2023 10:38 am In Victoria, the builder must give you Home Owners Insurance before you sign the building contract. It is the policy the builder purchases for your benefit (as required by law). It is builders expense, his cost of doing business and he does not have to account to you. The above policy will not kick in unless the builer is dead, bankrupt or missing. In addition there must be current builder's construction insurance that insures your dwelling during construction and to the point of handover. So if your house burns down just prior to handover(you paid for it in progress payments), you are covered. This type of policy is jusually blanket policy that covers all of builders work and the builder does not need account to you but merely prove the currency. Subsection of the construction insurance policy is public liability and workers compensation, again if current , none of your business. All of the above insurances are separate from the usual owners insurance after handover. There is no insurance policy that will cover bad workmanship and building defects, statutory inspections will not necessarily protect you and that is why if you are serious about protecting your investment you should employ your own independent building consultant. 1 Pre contract review 2 Pre slab inspection 3 Frame Inspection 4 Pre plaster inspections 5 Waterproofing inspection 6 Pre final inspection Many owners have and we went from A-Z with minimum of fuss Many have not, to their regret Foremost Building Expert in Australia,assisting with building problems/disputes, building stage inspections,pre-contract review advice for peace of mind 200 blogs http://www.buildingexpert.net.au/blog 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 2803 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 7985 I apologise for any confusion, but your understanding is correct. We approached our situation differently based on advice from… 11 53682 |