What is Builders Warranty Insurance?

Licensed builders performing domestic building activities may be required by law to hold Builders Warranty Insurance

Building a family’s dream home can be both an exciting & daunting process for the client. This insurance can assist in offering the client a safeguard against problems arising throughout the build process if you are not able to honor the commitment to complete their home, Clients may feel you are doing your best to ensure they are not left “out in the cold”.

Builders Warranty Insurance also commonly referred to as Home Warranty Insurance is designed to provide a “safety net” for homeowners to compensate against losses due to faulty workmanship and incomplete building work if your builder becomes insolvent, dies or disappears.

Do I need Builders Warranty Insurance?

NSW –   Is a legal requirement for any work $20,000 & above                                               ACT –    Is a legal requirement for any work valued $12,000 & above

QLD –    Is a legal requirement for any work valued $3,300 & above                                     WA –      Is a legal requirement for any work $20,000 & above

VIC –     Is a legal requirement for any work $20,000 & above                                                TAS –     Is not a legal requirement and is Voluntary Scheme

ACT –    Is a legal requirement for any work valued $12,000 & above                                    QLD –    Is a legal requirement for any work valued $3,300 & above

WA –      Is a legal requirement for any work $20,000 & above                                                 VIC –     Is a legal requirement for any work $20,000 & above

TAS –     Is not a legal requirement and is Voluntary Scheme

For more information or to arrange a quote, contact Bespoke today

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