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Builders Warranty Insurance
Mandatory residential building insurance for builders and tradespeople in NSW, ACT, Vic, SA and WA.
Understanding Builders Warranty Insurance
We understand the complexities of Builders Warranty Insurance and, as with every policy we place, we take the time to understand your needs and provide exceptional service from start to finish.
A Legislative Requirement
Builders Warranty Insurance is a legislative requirement under State and Territory law in NSW, ACT, Vic, SA and WA. In NSW and WA it applies to residential building contracts over $20,000; in Vic, ACT and SA it applies to contracts of $12,000 and over.
What It Protects
Builders Warranty Insurance protects homeowners if they lose their deposit, if the builder doesn't finish the job, or if the work is defective - and the builder becomes bankrupt, disappears or dies. In NSW, the cover also extends to non-compliance with Consumer, Trader and Tenancy Tribunal orders.
What This Policy Covers
Loss of homeowner deposits
Incomplete residential building work
Defective work where the builder is bankrupt, disappeared or deceased
Non-compliance with Consumer, Trader and Tenancy Tribunal orders (NSW)
Mandatory cover for residential contracts over the relevant State threshold
Home warranty insurance certificates issued before work commences
By law, builders and tradespeople must issue a home warranty insurance certificate before starting residential building work. Contact Maxton Insurance Brokers today and we'll arrange your Builders Warranty Insurance so you can get on the tools.