Builders Warranty Insurance may provide financial cover to a homeowner for rectification works if the builder dies or disappears.
Builders Warranty Insurance has been legislated as compulsory in all states excluding Tasmania, and is designed to protect the consumer. It provides financial cover to a homeowner for rectification works if;
Each Australian state has individual Builders Warranty requirements. Below is a summary of what your state has legislated.
Cover is mandatory when the value of building works surpasses;
If you require any further information on your state, please give us a call.
To apply for a Builders Warranty policy please contact one of our Builders Warranty specialists on 1300 424 627.
At Whitbread, we can also arrange the renewal of the builder’s letter of eligibility, in addition to obtaining this letter for new builders. This process can take up to 10 business days, and it is important that all relevant documentation is attached.
We provide this service free of charge for all builders.
Whitbread have the capability and expertise to handle all of your Building and Construction Insurance needs, whether it be large or small scale residential projects, or commercial developments.
Our approach to risk is holistic. We view insurance as only one component of a wider risk strategy.
At your request, Whitbread can engage our specialist Risk Management Consultant to work in partnership with you and your Whitbread broker to ensure no stone is left unturned when addressing insurance and risk solutions for your business.
Our aim is always to assist our clients in achieving their vision by reducing the uncertainty of risk, and empowering them with greater control over their future.
Contact us for a complementary appraisal of your insurance and risk program.
Confidence in a crisis.
You take out insurance for those times when unexpected events present themselves. Our in-house specialist claims team will ensure you have the support and expert advice you need when things don’t go to plan.
Our team of specialists will be with you each step of the way, taking the stress out of a claim, working in partnership with you and your broker to reach the best outcome, as fast as possible.
Click here to find out more about our claims services.
Builders Warranty Insurance may provide financial cover to a homeowner for rectification works if the builder dies or disappears.
Builders Warranty Insurance may provide financial cover to a homeowner for rectification works if the builder becomes insolvent.
Cover commences on the earlier of the date of the building contract or date of the building permit for the domestic building work.
Cover concludes:
Your policy document will detail the cover you may be entitled to.
Please don’t hesitate to give us a call and ask for advice on interpreting your policy wording.
Cover is provided for non-completion and/or defects. For non-completion claims, the maximum amount payable is 20% of the contract price.
The maximum amount payable for all claims is dependent on the relevant Ministerial Order that was in force at the time the relevant policy was issued:
Builders Warranty Insurance may also cover expenses such as storage and accommodation costs (up to a maximum of 60 days).
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