As the recent Structural Defects that caused the evacuation of the Opal Tower highlighted the problems in the building industry, residents were unable to live in their apartment for months. When a Structural Defect occurs and there is no insurance to rectify the problem, the sales value of the apartments and the equity that the bank or financial institution are …
Owner Builders Bundle and Save $250 on your Building Insurance
Stories abound of owner builders who took short cuts when it came to insurance when building and lived to rue the day!! For a start, if you under insure when buying Construction and Public Liability Insurance, you will only receive a portion of the payout you expect if you make a claim. If you sell your home and a Structural …
What insurance is out there to protect me? Structural Defects Insurance
Builders constantly asked us this question, as they are very concerned that if a Structural Defect occurs in 5,8,10 years after completion of the project and they may have retired, they will be sued!! 10-year Latent (Structural) Defects Insurance answers this problem for builders. It is the nature of construction projects that faults and defects caused by failures in design, …