Here are BuildSafe’s three tips to give you peace of mind before the holiday period:
- Bushfires:If you are planning to start on your project over the Christmas holidays – ARE YOU INSURED?Insurer have generally a 7-14 day cooling off period when issuing a policy in fire season – that means you have NO cover for the first 7-14 days in the event of a bushfire. It is no good looking out the window, seeing the flames approaching and ringing the insurer – You will not have cover
- Theft:If you are Owner Building, renovating, extending or building a new home, the Christmas period is the most dangerous time for theft.So besides, locking up your tools and building materials at all times, ensure you have an Owner Builder Construction & Public Liability policy in place, as your Home & Contents Insurer when renovating is very unlikely to cover you in the event of a claim for theft.
What about an unwelcome guest who injures himself on your site he will sue you and because your Home & Contents insurer now sees your home as a building site you will not have cover.
This is the same for a new home, you will need Owner Builder Construction and Public Liability Insurance to protect you, not only for theft but also Public Liability Insurance from a ‘nosey’ neighbour injuring himself and suing you.
- Flood, Storm and Cyclone overOver the years many people have found out that they don’t have any or sufficient cover. This can have a major effect on your financial future, if you are not properly insured – and unfortunately you only find this out once a claim has happened.You will need a policy that will cover the cost of rebuilding your home.
Do not get FLOOD cover mixed up with storms or Cyclone cover.
You need all 3!
As an example of the differences a flood event rises, a storm and cyclone blow and drop rain.
Most policies do NOT cover FLOOD and damage caused by storm. E.g. tarp blows off and water damages both the renovation and existing home & contents, are not covered.
Also, most policies do NOT cover Queensland Owner Builders in the event if a flood.
Luckily BuildSafe’s policy will cover you for ALL of the above.
Please contact us so we can explain in more detail how our policy is the most comprehensive and designed for you, the Owner Builder.
We wish you a Merry Christmas and a safe and Happy New Year!