Victoria

Are you selling your owner built or owner renovated home?

Here are 7 major reasons why you need BuildSafe Owner Builder Warranty Insurance:-

1. To prevent the purchaser of your home cancelling the contract at any time before settlement, Owner Builder Warranty must be obtained before you enter into a contract of sale.
2. To avoid a $10,000 fine.
3. Best Policy Package Available. You or your clients will benefit from the most competitive and comprehensive policy on the market today.
4. Quick Turnaround. Paperwork is processed quickly and efficiently as our service includes urgent response facilities, i.e. -we are able to issue the insurance policy by fax.
5. Expert Knowledge. Providing particular help for those with complex cases.
6. Less Stress and Hassle. Our underwriting and service support package provides you with peace of mind, easy policy completion and follow up support and advice.
7. Our Experience. BuildSafe and our sister company, Australian Owner Builders have been helping owner builders for the past 15 years. We have the proven track record and know all the pitfalls and their solutions.

Most asked Questions and Answers

What does the insurance cover?
Owner Builder Warranty Insurance only covers defects, NOT identified in the Inspection Report.

Who is covered by the insurance?
The purchaser and any subsequent purchaser of the home. not you the actual Owner Builder.

The insurance warranty cover is for how long?
6 years from the Certificate of Occupancy and Certificate of Final Inspection. The maximum limit of insurance is $200.000.

Can I sell my home if I haven't got the insurance yet?
No, not until the Owner Builder Warranty policy has been issued.

If I sell/auction my home can I take a deposit?

Yes, as long as the Owner Builder Insurance Warranty policy has been issued.

What could happen if I don't get warranty insurance?
You could incur a ten thousand dollar ($10,000.00) fine under Section 137B of the Building Act.

Why do I need to obtain a defect inspection report?
A defect inspection report is required under 137B of the Building Act.

Why do you need the certificate of occupancy or the certificate of final inspection?
The period of Insurance commences from these dates for a period of six (6) years.

What if I can't find my building permit?
You can contact the Council and ask for a Form 2.10. This will list all permits and approvals issued on your home for the past ten (10) years.

My extension is under $12,000.00 do I need warranty insurance?
No. But you still require a defect inspection report.

Once the policy is issued am I still responsible for the property repairs?
Yes. As the builder you have the ultimate responsibility. This is the same conditions that a registered builder works under to repair the defects.

What is the purpose of the insurance?
The policy is for the protection of the purchaser in the event of the owner builder becoming bankrupt, disappearing or passing away.

Before we can issue you with a policy we require the following:

• Inspection/defects report
• Completed and signed proposal form
• Copy of the Building Permit
• Copy of the Final Inspection Certificate (if extension/renovation)
• Copy of the Certificate of Occupancy (if new home)
• Payment: Money Order, Bank Cheque or Credit Card Details. (There will be a 2% surcharge added to credit card payments)

Please ask about our Turnaround time options available to you

• Standard Turnaround– 24 hours
• Express Service– 4 hours
• Super Express Service – 1 hour

* Express and Super express are services that attract an additional fee. Please ask our consultant for options. Times are based on standard policies where all information and payment is received.

Be Sure Be Safe Build Sure BuildSafe

 For a Warranty Insurance Proposal Form - Click here

For a list of Accredited Building Inspectors - Click here

For a Warranty 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