Builder Warranty – Vince Insurance

Builder Warranty

Builder Warranty

Builders Warranty Insurance

What is it?
Today licensed builders needs Builders’ Warranty Insurance for some, if not all residential jobs. Generally, a Builders’ Warranty Insurance certificate must be submitted before any work can begin.

What it covers?
Builders’ Warranty protects home owners from loss of deposit, unfinished or defective works as a result of the builder’s negligence. The rules vary from state to state across Australia so it’s important to understand what the rules are in yours. Vince Insurance has many years of expertise in Builders’ Warranty Insurance. By staying up-to-date with all current regulations in your region, we can help make life considerably easier for you.

The examples and links, below, summarise some of the key differences from state to state right now.

State	Known as	Legal Requirement?	More Information
ACT	Residential Building Warranty Insurance	Yes, for work valued over $12,000	ACT Government Planning
NSW	Home Building Compensation Fund	Yes, for work valued over $20,000	Home Building Compensation Fund
NT	N/A	No	Northern Territory Government
QLD	Home Warranty Insurance	Yes, for work valued over $3,300	Queensland Building and Construction Commission
SA	Building Indemnity Insurance	Yes, for work valued over $12,000	Consumer and Business Services
TAS	Residential Building Warranty Insurance	No, in Tasmania it’s a voluntary scheme	WorkSafe Tasmania
VIC	Domestic Building Insurance	Yes, for work valued over $20,000	Victorian Managed Insurance Authority
WA	Home Indemnity Insurance	Yes, for work valued over $20,000	WA Department of Commerce

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Vince Insurance has many years of expertise in Builders’ Warranty Insurance. We stay up-to-date with current regulations in your area, which can make life considerably easier for you.