Builders Warranty insurance is compulsory for all residential building works being carried out by either a licensed builder or an owner builder when the value of works exceeds $12,000.
There are two forms of Builders Warranty;
Residential Builders Warranty
Should you be faced with a situation where you cannot recover compensation from your builder due to death, disappearance or insolvency, your Residential Builders Warranty Insurance will cover you for:
- The loss of your deposit
- Loss or Damage for non completion of work
- Breach of statutory warranty
Owner Builders Warranty
Similarly should compensation from the owner builder not be available due to death, disappearance or insolvency of the owner builder, you would have cover for loss or damage from a breach of statutory warranty or faulty design.
Please contact Dunk Insurance to discuss the options that are available to you or. You can also access detailed information as to the statutory requirements of this type of insurance by visiting
Home Building Act 1989 No 147