Who needs Builders Warranty Insurance?
Builders Warranty Insurance (also known as “Residential Warranty Insurance” or “Home Warranty Insurance”) is a legislative requirement under State/Territory law for any contracts works over $12,000.
All domestic building work above $16,000 must be covered by Home Warranty insurance.
It protects homeowners from faulty workmanship or non-completion of a contract if the builder dies, disappears or becomes insolvent.
Builders and Tradesmen require a home warranty insurance certificate to be issued in favour of the homeowner before any residential construction can commence.
To arrange Warranty Insurance you must first lodge an eligibility application to set up your profile with the insurer. All Builders must complete an Eligibility application form prior to arranging job specific Warranty Insurance.
Once your application is accepted by the insurer you are then able to arrange Builders Warranty Insurance on a job specific basis by completing a Job Specific form for each new job requiring cover. (There is no need to provide your extended company details each time.) Owner builders are not required to complete an eligibility application, but must complete the Owner Builder Application.
Should your annual turnover exceed $5m AUD where it was not previously, or should you require changes to limits or other general information on your Builder Profile you are able to request these changes to you profile using our Online Form.