How to get home warranty insurance for builders

The process for purchasing home warranty insurance differs from state to state, although there are some similarities. In all states, you'll only be purchasing it if you're a builder or tradesperson doing residential building work. Generally, you'll need to do the following: Ensure you have the correct documents and applications to prove your eligibility to an insurer. Purchase your policy through your state's provider or an insurance broker. Links to brokers, policy providers and home warranty insurance info for each state are listed at the bottom of this section. The price will depend largely on the value of your building contract. Keep your policy documents handy. State What you need to do New South Wales All home building compensation insurance is purchasable from icare HBCF through an approved broker . You can find more info at the State Insurance Regulatory Authority. Western Australia To access the process for getting your building work approved and insured, go through the government's Building and Energy website. South Australia Building indemnity insurance has to be secured from one of the few approved insurers through your insurance broker. To see the process and list of insurers, see the South Australian Government Financing Authority's website on the matter. Victoria Domestic building insurance is handled through the VMIA, which has a short approved list of authorised distributors. Queensland To find out about purchasing home warranty insurance, see the Queensland Building and Construction Commission's page. Australian Capital Territory For information on obtaining home warranty insurance in the ACT, visit the Environment, Planning and Sustainable Directorate site.

Who pays home warranty insurance?

The person who actually takes out the policy and pays the premium for home warranty insurance is the builder or tradesperson doing the work. However, the beneficiary of the policy is the homeowner whose house is having work done on it.

Does home warranty insurance cover vandalism?

No, home warranty insurance policies will not generally include this feature in their cover. However, if you have a home insurance policy, you should be covered.

At what point should a builder provide home warranty insurance?

While the exact wording of legislation varies around the country, builders are generally required to take out home warranty insurance before any money changes hands. In South Australia, for example, the insurance must already be in place before the builder accepts any money and before they get a building permit or licence from the local government.

What does it mean if a builder is only available for contracts not requiring home warranty insurance?

This means the builder has not been given eligibility for an insurer and cannot take out home warranty insurance.

Why should I check that the builder's name on the contract matches the name on the insurance certificate?

You should check this closely because if you fail to do so, the insurance provider will most likely reject your claim.

How do I successfully make a claim?

If you want to make a home warranty claim, get in touch with the insurance provider via phone or email. You'll then typically have to fill out a claim form and provide full details of the reason for your claim. Next, send the completed form to your insurer along with any supporting evidence or information they may require. This could include copies of the building contract, your certificate of insurance, the plans and specifications for the construction work, proof of payment, consultant reports you may have obtained in relation to the faulty work and much more.