Home Warranty Victoria
Home Warranty Insurance can be frustrating process. But use the right Insurance Broker and it's a straightforward process. The key is to stay focused on selling your home for the very best price and let the experts arrange Home Warranty.
Owner Builder Home Warranty obligations vary on State Governments and Insurers requirements. BuildSafe consultants are experienced and familiar with Home Warranty and all the nuances of Owner Builder wishing to sell their home. So if it’s professional service or just answering your queries, rely on BuildSafe.
Watch this short short video for more detail
3 important steps when obtaining Owner Builder Home Warranty Insurance
- Use an experienced Insurance Broker, the more experienced the Broker the less paper work is required - Ask BuildSafe Insurance Consultants - they'll know the detail
- Use a qualified building inspector - Ask BuildSafe Insurance Consultants - they'll know the detail
- In most instances, Home Warranty Insurance certificates are available within an hour - Ask BuildSafe Insurance Consultants - they'll know the detail
Residential Owner Builders Home Warranty Insurance protects the home purchaser and subsequent home purchases from prescribed defective workmanship in the event that the owner builder dies, disappears or becomes insolvent during the Home Warranty or Indemnity period.
Home Warranty Insurance is only required, if and when an Owner Builder sells their home within six (6) years from completing Owner Builder works.
Here are 7 major reasons why you need BuildSafe Owner Builder Warranty Insurance:-
- 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.
- To avoid a $10,000 fine.
- Best Policy Package Available. You or your clients will benefit from the most competitive and comprehensive policy on the market today.
- 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.
- Expert Knowledge. Providing particular help for those with complex cases.
- 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.
- 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.
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 (subject to satisfactory receipt of Application and supporting documents)
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