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Builders warranty insurance
For residential construction projects.What is builders warranty insurance?
Builders warranty insurance (also known as home warranty insurance, domestic building insurance or DBI) is a statutory product which is required in most states for builders carrying out domestic building contracts.
What does builders warranty insurance cover?
Builders warranty insurance protects the home owner (including subsequent owners) against
- non completion of the building contract, including loss of deposit
- incomplete or defective building work if the builder becomes insolvent, dies or disappears on the job
- failure of the builder to correct faults which are the builder's responsibility by law, such as poor workmanship and the use of inappropriate or unsuitable materials.
Insurance requirements vary from state to state.
Requirements for Builders Warranty Insurance vary from state to state. Gallagher can help ensure you have the required cover in place and can arrange warranty insurance cover for builders in Victoria, New South Wales, the Australian Capital Territory, South Australia and Western Australia.
A full list of defined events are included in the policy document. The Gallagher Builders Warranty Insurance product is subject to the policy terms and conditions. Exclusions and sub-limits may apply.
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