Owner Builder Warranty Insurance is a statutory requirement in certain states when an owner builder (who is not a Registered or Licensed Builder) undertakes domestic building works. A common misconception is that when a builder is working for an owner builder they are not required to purchase this insurance. This is incorrect. If the value of work - labour and materials - exceeds the specified amount then warranty insurance must be purchased as the owner builder is considered a consumer.
The requirement for insurance is for the benefit of the purchaser rather than the owner-builder. Owner-builders who try to sell their properties within a statutorily set number of years of completing building works and don’t have Owner Builder Warranty insurance can be subject to large fines.
Consult with you to get a clear understanding of your business. We will ask probative questions surrounding strategic, hazard and business risks of your business.
Based on this information we will search the market for the best cover and consider the best options available for your business. We will design a proposal to suit your needs.
Once you have agreed to your risk management plan we will implement and setup your cover.
We pride ourselves in maintaining on going relationships with our clients. We will check in regularly to ensure you’re comfortable with your cover and to ensure you’ve had no major change of circumstance.
Network Insurance Group are a 100% Australian Owned Insurance Broker backed by the Steadfast Group. We specialise in general Risk Management, Workers’ Compensation, Claims Management and Specialty Industry Risks.
Network Insurance Group has a long established track record of financial strength, integrity and delivery for our valued and long standing customers. In trusting Network Insurance Group, our customers benefit from market leading expertise and specialism across a range of diverse industries, products and services.
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