Could the sale of my home be jeopardized without Home Warranty Insurance?
In short – YES.
If you as the owner builder decide to sell the property within a 6 year period (WA 7 years) from the date the owner builder is issued with a building licence for the work, then warranty insurance is required by law in NSW, VIC and WA.
Call Today & “GET COVER NOW” 1300 155 338
Why use FD Beck for your Home Warranty Insurance?
- Fast 24hr Turnaround
- Flat Admin Fee
- Competitive Pricing
- Help with compliance checklist
- Help with Defects Report Providers
- Approved by Building Commission and QBE Insurance
- We provide Home Warranty for Professional Builders as well!
FD Beck is an Australian owned company that has a history of arranging insurance since the 1890’s and has been providing cost effective insurance solutions to owner builders for over 30 years.
Our expertise in construction insurance is evidenced by the Building Commission endorsement of FD Beck in their ‘Owner - builder Application Kit September 2011’ and we are also authorized by QBE Insurance (Australia) Limited to offer warranty insurance.
Need more information:
Don’t risk a fine from the government or get sued when it comes to home warranty issues!
As part of the sale process a Section 32 Vendor’s Statement must be prepared by, or on behalf of, the vendor, and served on any person who wishes to purchase the property before a contract of sale is signed. This Section 32 must contain a written inspection report (listing any defects) as well as a copy of the Owner Builder Home Warranty Certificate.
An Owner Builder who sells and fails to obtain Owner Builder Home Warranty Insurance can risk fines and penalties between $10,000 to $22,000 depending upon the State. If a contract of sale has been entered into without Owner Builder Home Warranty Insurance, the purchaser has the right to void the contract and have their deposits refunded in full.
Don’t get stung with excessive &/or hidden fees when it comes to home warranty insurance!
Unlike some brokers FD Beck only charges a flat administration fee should your application be successful. Issues such as prompt turnaround, issuing of multiple documents and application assessment are seen as a normal part of our service and does not incur any additional cost to yourself.
How long does a Home Warranty Certificate take to issue?
Once we have received all of the information required and provided that information is satisfactory then we can usually organize a home owners warranty insurance certificate for an owner builder within a full business day.
How do I know I have supplied the relevant Home Warranty information in order to avoid delaying my sale?
You will need to provide a Defects Inspection Report (no older than six months from the date of application). This can only be completed by a Registered Building Surveyor, Registered Building Inspector, Engineer or Architect in the state of Victoria, or accredited and insurer approved inspectors for all of the other states.
Note: any defects, incomplete works or second hand materials listed in the Defect Inspection Report are excluded from this cover. In addition to the above report, please also attach the following documentation:
- Completed and signed application form
- Copy of the Council Building Permit/Approval or consent (for all works requiring owner builder warranty insurance)
- Copy of the Certificate of Occupancy or Final Notice of Completion
- Copy of Certificate of Title/Council Rates Notice
- Photo Copy of Owner Builder’s Drivers Licence (applicable to Victoria only)
- Copy of Termite Treatment Report (if applicable – Section 4)
- Copy of the Electrical and Plumbing Compliance Certificates
- Copy of Department of Fair Trading Owner Builder Permit (NSW only).
Can you help me in obtaining an urgent defects report?
As part of our ongoing service FD Beck can help you find a registered building surveyor in your area. Call 1300 155 338 to get help finding an approved professional in your State.
Call Our Experts & “Get FREE Advice” 1300 155 338
Still want more:
Want to know more about recent changes to Owner Builder Warranty Insurance in Victoria?
Back in May 2010, QBE Insurance entered into an agreement with the Victorian Managed Insurance Authority (VMIA) to assist in managing the transition to the new independent state government insurance arrangement.
To keep both homeowners & builders (including owner builders) up to date with the latest developments regarding domestic building warranty insurance, the VMIA has created a specific website that contains information about how to lodge a claim (for homeowners) and how to apply for eligibility for both builders & owner builders.
Visit www.dbi.vmia.vic.gov.au for more information about the VMIA’s home warranty insurance cover (referred to as domestic building insurance cover).
Want to know more about recent changes to Owner Builder Warranty Insurance in NSW?
In June 2010, QBE Insurance was appointed to act as an insurance agent of the NSW Government to help in managing the transition to the new government insurance arrangement which came into effective on 1 July 2010.
The new arrangement is operated by the Home Warranty Insurance Fund, the current insurer of Builders Warranty cover, following the introduction of the NSW Self Insurance Corporation Amendment (Home Warranty Insurance) Bill 2010.
Under this agreement QBE is responsible for providing underwriting and claims management services to the NSW Government.
For further information please refer to the NSW Home Warranty Insurance website .
Can Owner Builders purchase Home Warranty Insurance directly from QBE Insurance, Victorian Managed Insurance Authority or NSW Government Home Warranty Insurance Fund?
Warranty Insurance is only available through professional intermediaries and cannot be purchased directly with QBE Insurance, Victorian Managed Insurance Authority or NSW Government Home Warranty Insurance Fund.
Call Our Experts & “Get FREE Advice” 1300 155 338