Latent Defects Insurance
Also called structural defects, to protect owner builders, homeowners residential and commercial builders, developers and Body Corporates in the event that an unforeseen structural defect occurs after practical completion of the building.
It is the nature of construction projects that faults and defects caused by failures in design, workmanship or materials, may not become apparent or detectable (even with the exercise of reasonable care) until many years after completion of the project, long after the end of the defects liability period. Latent Defects can be extremely expensive and disruptive to rectify.
Latent Defects Insurance indemnifies the insured for the cost up to the total sum insured of the repairs to the damage caused by the defect and is available for 10 years from the date of practical completion.
What’s included in the Policy:
- Covers the Builder, you are jointly insured with the owner – No liability
- Negligence and fault do not have to be proved ensuring problems are rectified promptly
- Avoidance of litigation and legal costs reducing time delays, hassles and loss of income
- Increases the value of the property to those properties without Latent Defects Insurance plus financiers will be more amenable to finance a property with Latent Defects Insurance
- No personal guarantees or deeds
- Removes provision for rectification work from balance sheet
- Ideal, if you are planning to retire – 10-year cover
- Simple Application form
Why Choose BuildSafe?
We’ll help and get our hands dirty.
Latest News
Keep up to date with the latest news in the industry!
-
PLAY VIDEOMake sure you have Construction and Liability Insurance and that you have not underinsured. 40%...
-
PLAY VIDEOLarge parts of NSW west of the Great Dividing Range, along with grassland areas...
-
PLAY VIDEOOwner Builders are you fully covered? Protected? Insured? Bushfires focus a lot of attention on...
-
PLAY VIDEOAre Owner Builders required to obtain Ministerial Exemption if they wish to sell their...
-
PLAY VIDEOAs an Owner Builder you are responsible for having a safe worksite and this...
-
PLAY VIDEODon’t let the excitement of a new renovation blind you to the major problems...
-
PLAY VIDEOThose who are, Building, renovating or extending are aware that we have bushfires raging...
-
PLAY VIDEODoes it have Latent Defect Insurance Protection? The big Question you should ask before you...
-
PLAY VIDEOOwner Builders like, tradespeople are all too often victims of theft, given their work...
-
PLAY VIDEOWhy do I need Latent Defects Insurance, my tradies will do a good job? You...
-
PLAY VIDEOAs the recent Structural Defects that caused the evacuation of the Opal Tower highlighted...
-
PLAY VIDEOStories abound of owner builders who took short cuts when it came to insurance...
-
PLAY VIDEOBuilders constantly asked us this question, as they are very concerned that if a...
-
PLAY VIDEOYou don’t have to be Einstein to understand that on building sites things can...
-
PLAY VIDEOHas Your Builder Offered Latent Defects Insurance to protect you if a structural defect...
-
PLAY VIDEOIf you used a builder to build your home and a structural defect arouse...
-
PLAY VIDEOA building disputes can be a stressful event for both the builder and homeowner. When...
-
PLAY VIDEOOne of the great fallacies of the building industry is that when you are...
-
PLAY VIDEOFollowing on from Part 1, outlined below are more questions you need to be...
-
PLAY VIDEODon't fear Public Liability Insurance, just make sure you are prepared! As an Owner...
-
PLAY VIDEOAs clients of BuildSafe Insurance Brokers, you allow us the opportunity to invest invest...
-
PLAY VIDEOFire into Bushfires! In our series on Fire and the precautions required now that...
-
PLAY VIDEOHome Renovation Insurance is becoming more and more popular. Now that home prices are...
-
PLAY VIDEOOwner Builder’s study guide to successful building! Certificate of Consent! Owner Building is the way to...
-
PLAY VIDEOPart 3 Owner Builder Insurance Policy, this is the final part of our series...
-
PLAY VIDEOPart 2 explaining Owner Builder Insurance Policies. Our theme of Check, Check, Check before you...
-
PLAY VIDEOPart 1. Owner Builder Construction and Public Liability can be as confusing as any...
-
PLAY VIDEOBe a Handyman with Buildsafe to the rescue. Magnificent Owner built home sold in Mc...
-
PLAY VIDEONEW Protective Works changes to the Building Act! These changes were implemented in June and...
-
PLAY VIDEOThe 7+ benefits that makes our insurance different! All Construction and Public Liability insurance...
-
PLAY VIDEOWhile everyone wants the perfect job, renovations cost money & homeowners need to make...
-
PLAY VIDEOAdjoining Property Protection. As everyone is becoming more risk adverse, building surveyors are requiring owner...
-
PLAY VIDEOIt can be very confusing when seeking out which insurance should I buy to...
-
PLAY VIDEOHome and Contents Insurance is designed to cover an existing home against damage, loss...
-
PLAY VIDEOWhat does that mean? If you are buying Owner Builder Construction & Public Liability Insurance....
-
PLAY VIDEO10 Fun Facts About Your Home Foundation. It’s interesting how little awareness there is...
-
PLAY VIDEOHere are BuildSafe's three tips to give you peace of mind before the holiday...
-
PLAY VIDEOSelecting a company to supply you owner builder construction and public liability insurance is...
-
PLAY VIDEOAfter reading this article about the 'tricks' builders are getting to why wouldn't you...
-
PLAY VIDEOA lesson for homeowners & owner builders to check all contracts & sign off...
-
PLAY VIDEOIf you are an owner builder & renovating ,check to ensure your plumber is...
-
PLAY VIDEOWhat to watch for when building your home, read on! The increasing prevalence of leaky,...
-
PLAY VIDEOOwner Builders need to be aware when purchasing building products that non conforming products...
-
PLAY VIDEOOwner Building is a fabulous way to improve family finances, by investing in your...
-
PLAY VIDEOOwner builders do your homework before signing a building contract with your subbies,this recommendation...
-
PLAY VIDEOCan be called a number of different names, Residential Home Warranty, Home Indemnity, Home...
-
PLAY VIDEOA street pole that blocks garage access to a new house in suburban Adelaide...
-
PLAY VIDEOBuilders Insurance, Building Guidelines, Commercial Builders, Current Industry News, Home Renovation, Owner BuildersWake up call to all builders and owner builders, in the event of an...
-
PLAY VIDEOOwner builders need to be aware of these requirements when building,your building services professionals...
-
PLAY VIDEOWater hammer is a fairly common occurrence in residential properties. What a lot of...
-
PLAY VIDEOA message for Owner Builder and Home Owners from the Victorian Building Authority on...
-
PLAY VIDEOArticle written by Guy Barnett on The Mercury website TASMANIANS planning to build or renovate...
-
PLAY VIDEOBuilders Insurance, Building Guidelines, Commercial Builders, Current Industry News, Health and Safety, Home RenovationOriginal article on The Age Melbourne's surging population in recent years has had a number...
-
PLAY VIDEOBuilders Insurance, Building Guidelines, Commercial Builders, Current Industry News, Home Renovation, Owner BuildersIf you turn on the telly these days, it’s plain to see that DIY...
-
PLAY VIDEOMonday November 7 2016 - Article by VBA Recently, the VBA has received a number...
-
PLAY VIDEOArticle by Insurance and Risk Construction insurance is a complex beast, capable of rocking the...
-
PLAY VIDEOUnder new changes to the Victorian Building Act, you ht home owner are now...
-
PLAY VIDEOWednesday October 5 2016 by VBA Safety in the kitchen is important for everyone. Good...
-
PLAY VIDEOTuesday October 4 2016 by VBA Research and understanding of bushfires is generating significant improvements...
-
PLAY VIDEOArticle on VBA website - August 5th 2016 Changes have been made to the VBA's...
-
PLAY VIDEOIf you are owner building or using a builder please be aware of the...
-
PLAY VIDEOIts great, you are about to start, the renovation is going to look great,...
-
PLAY VIDEOWhen buying Owner Builder Insurance Everyone wants the cheapest price but in assuming all Owner...
-
PLAY VIDEOColin Biggers & Paisley Pty Ltd - by Julian Mellick, Teodor Lomaca, Kyle...
-
PLAY VIDEOProperty Observer - Robert Caulfield Water leaks and water damage have been highlighted as a...
-
PLAY VIDEOArticle by Reef Coast Construction Just whose responsibility is it, to arrange insurance cover for...
-
PLAY VIDEOWith the current trend of eco-friendly and green initiatives driving better energy consumption and...
-
PLAY VIDEOArticle by Brightside We’ve put together a selection of 24 photographs which show that there...
-
PLAY VIDEOArticle: Victoria Building Authority What have we found? The VBA's Proactive Inspections Program has identified sites...
-
PLAY VIDEOArticle from Insurance and Risk Insurance brokers have been warned that non-compliant, highly flammable cladding...
-
PLAY VIDEOSource: ABC News A young family who believed their insurance had lapsed after an early...
-
PLAY VIDEOArticle by Landis Michaels, Rebecca Hosking and Gavin Creighton Colin Biggers & Paisley Some types of cladding materials imported from...
-
PLAY VIDEOA recent report showed that approximately 7 Victorians die each year as a result...
-
PLAY VIDEOThe VBA has released an information sheet to provide new homeowners with advice about...
-
PLAY VIDEOYes & No In New South Wales, for example, Clause 22 of the NSW builders...
-
PLAY VIDEOSeems an odd question to ask. Of course builders have a duty of care....
-
PLAY VIDEOThis is step 7 in a 10 step process uncovering whether Owner Building is...
-
PLAY VIDEODo you own land? Arrange the right Insurance! If you own land, perhaps a block...
-
PLAY VIDEOPROFESSIONAL INDEMNITY BASIS OF COVERAGE DEFINITION Professional Services shall mean one or more of the following...
-
PLAY VIDEOThis is step 2 in a 10 step process uncovering whether Owner Building is...
-
PLAY VIDEOWater hammer is a fairly common occurrence in residential properties. What a lot of...
-
PLAY VIDEOIf you turn on the telly these days, it’s plain to see that DIY...
-
PLAY VIDEOThis is step 8 in a 10 step process uncovering whether Owner Building is...
-
PLAY VIDEOThis is step 6 in a 10 step process uncovering whether Owner Building is...
-
PLAY VIDEOThis is step 5 in a 10 step process uncovering whether Owner Building is...
-
PLAY VIDEOThis is step 3 in a 10 step process uncovering whether Owner Building is...
-
PLAY VIDEOThe words “draftsman” and “architect” have become synonymous to the lay man, but for...
-
PLAY VIDEONow that 25 years have passed since the phasing out of asbestos in construction,...
-
PLAY VIDEOOwner Building Step 1: Realising that Owner Building is a Real Option In the introduction to...
-
PLAY VIDEOThe building industry is a vital cog in the machine that fuels the Australian...
-
PLAY VIDEOThe Royal Life Saving Society reports that the number of children drowning in Australia increased by...
-
PLAY VIDEOParents worry endlessly to keep their kids safe. Luckily, families that live in strata...
-
PLAY VIDEOThe law is simple on this one: Avoid fines and non-compliance by displaying adequate...
-
PLAY VIDEOBuildsafe is championing the responsible owner build movement. We believe that through perseverance and...
-
PLAY VIDEOIt seems as though the duty of care issue is never cut and dry...
-
PLAY VIDEOEmbarking on a home improvement project entails a huge financial outlay, and so it’s...
-
PLAY VIDEOThe filing of an insurance claim is often preceded by a traumatic and unfortunate...
-
PLAY VIDEOWhether you’re a small private contractor or a large building company, accidents on the...
-
PLAY VIDEOYou’ve just finished watching 6 straight episodes of Backyard Blitz, and while your eyes...
-
PLAY VIDEOIt seems as though the duty of care issue is never cut and dry...
-
PLAY VIDEOThe Home Building Act, the Industrial Relations Act, the Occupational Health and Safety Act, the Work Health and Safety Act, Fair...
-
PLAY VIDEOIt’s hard to imagine a stiffer penalty than being forced to knock down your...
-
PLAY VIDEOBy now the court case of Hillman vs. Ferro Con is a household name...
-
PLAY VIDEOThe days of looking up to the man who built his own home with...
-
PLAY VIDEOIf you have ever decided to manage our own home renovation project or taken...
-
PLAY VIDEOFlip real estate is all through the telly channels these days, and you’re liable...