5 top Insurance questions

1. Most home and contents policies do cover you when renovating. How do you know? Ask BuildSafe Owner Builder Specialist – they’ll know the detail
2. Building a new home and how to reduce your insurance costs and protect your investments. Ask BuildSafe Insurance Consultants – they’ll know the detail
3. Building your pool or outhouse. Don’t lose sight of your greater risk. Ask BuildSafe Insurance Consultants - they’ll know the detail
4. Owner building projects often run over time – so how come most insurers don’t cover you. Ask BuildSafe Insurance Consultants - they’ll know the detail
5. Insuring your building works is one thing, but what about your tools, contractors and equipment. Ask BuildSafe Insurance Consultants - they’ll know the detail

Building or renovating a home is an exciting time for many Australians. Each year over 40,000 home owners decide to manage their own building projects. Through proper planning, good advice, responsive assistance and careful management the experience of owner building is both financially rewarding and satisfying.

Most Australians are ‘Owner Builders’ at least once in their lives! An Owner Builder is someone who constructs or renovates a domestic building on his or her own land, but is not a registered Builder or in the business of building. This includes renovations, modifications and the very popular updating of home kitchens and bathrooms.

Thinking of becoming an owner builder? Visit: www.ownerbuild.com.au

Construction and Public Liability Insurance

Can you really afford the risk?

BuildSafe offer a tailored owner builder domestic Construction and Public Liability policy. Protection and coverage is purposely designed for Australian owner builders, and unlike some standard policies, contain real important owner builder additional cover.

10 outstanding benefits of the BuildSafe owner builder Construction policy

1. Low excess levels
2. Maximum sub limits inclusions:
   • Materials or items supplied by the principal - owner builder
   • Cost escalation allowances
   • Additional removal of debris
   • Additional architects, engineers, consultants and surveyors
3. Existing structures coverage
4. Existing contents protection
5. Contractors coverage
6. Tools and equipment insurance
7. Policy extension
8. Low Premiums
9. Automatic Pre Qualification Owner Builder Home Warranty Insurance
10. Adjoin property coverage - Victoria

Why Construction Insurance is important?

Construction insurance protects the owner builder during the building process, including malicious damage, vandalism, theft, fire damage, storm, wind and water damage. The BuildSafe policy also provides cover for demolition costs and professional fees in the event of a major claim (for up to 10% of the insured construction value) at no additional premium, which ensures that you will not be left out of pocket if a major claim occurs.

Started your project already -BuildSafe are the industry specialist when it comes to commenced works. Ask BuildSafe Insurance Consultants - they'll know the detail

Why Public Liability Insurance is important?

Public Liability Insurance protects owner builders against third party personal injury and property damage that occurs during the period of policy.

Is Construction and Public Liability Insurance compulsory?

As a general rule, insurance is not compulsory but you carry the risk. Through no fault of your own, your building project can be exposed to fire theft, vandalism or weather. Unlike car insurance, your potential loss is much, much greater. If finance is being obtained from a lending institution, generally they will require evidence of a Construction and Public Liability policy prior to releasing funds.

Is price important - not really when your whole home is at risk!

Insurance is not a luxury. Insurance is not nice to have. Insurance is a must for all owner builders. 'Don't worry, nothing will go wrong' is just wrong - things do go wrong, incidents do happen, events not of your doing or in your control can destroy you project and bring you to your knees. Don't risk it - it just isn't worth it. Price is important; value for money is a must but above all don't underinsure, don't risk it, don't roll the dice - after all, owner builder's owner build with their money and their families.

Making a Claim

BuildSafe Insurance Brokers will assist and support you in your claim. Key factors in claim handling; speed, fairness and customer care.

For Construction & Public Liability Insurance Proposal Form - Click here

For Construction & Public Liability Insurance Product Disclosure Statement & Policy Wording - Click here

Before making a decision about any of our products, please read our Financial Services Guide - Click here

Contact Us for more information.

Want more Information on owner building? Visit - www.ownerbuild.com.au