Uncomfortable truth – Natural Disasters

Uncomfortable truth – Until an emergency happens – Bushfire – Owner Builders either underinsure or take the risk and NOT insure. It has been ‘scary’, not only the Bushfires but the number of Owner Builders who have rung, begging for cover for their home that is being built or renovated, in the fire zones of NSW and QLD. They had …

Selling your Owner Built house in NSW

The question we get asked all the time as an Owner Builder, ‘how do I get the best price when all the other houses we are competing with have Builders Warranty in place and our Owner Built home does NOT’! You can understand the question as you, (Owner Builder) will be buying someone else’s home and will want Warranty Insurance …

Buying an Apartment?

Does it have Latent Defect Insurance Protection? The big Question you should ask before you buy an Apartment! Confidence to buy an apartment is at an all-time low, with the issues regarding cladding and structural defects causing evacuations with untold misery to the owners and tenants. How can I protect myself in the event that an unforeseen Structural Defect occurs …

Forcible and Violent entry: What does it mean?

Owner Builders like, tradespeople are all too often victims of theft, given their work on unsecure building sites with expensive tools.   While many insure their tools, it’s essential to understand how ‘forcible and violent entry’ works in the event of a theft and subsequent claim. Here at BuildSafe, we explore why some claims are successful and some are not with its provider.  If tools left in …

Latent Defects for Owner Builders

Why do I need Latent Defects Insurance, my tradies will do a good job? You became an Owner Builder to save money and have the home you wanted. Correct! And Yes, your tradies, on the surfaces will do a good job but what about in 5 – 10 years? It may take years for a structural defect to appear but …

Why Banks and Financial Institutions lending money for building must ensure developers and owners have Latent Defect Insurance before starting.

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, …

6 reasons why the smart Owner Builders have Latent Defects Insurance

You don’t have to be Einstein to understand that on building sites things can go wrong and especially you being an owner builder and not skilled in or present when the slab is poured, the frame and roof and built, the waterproofing done, correctly. This is why Owner Builder Latent Structural Defect Insurance is vitally important for you, the Owner …

Why Owner Builder’s Latent Defects Insurance is vital!

If you used a builder to build your home and a structural defect arouse e.g. roof sags, you could be waiting for over 3 years for the builder to fix the problem. Luckily for you, you have owner built, so if a structural defect surfaces. E.g. · Waterproofing failure, causing floor and timber rot and warping · Roof, not adequately …