Builders Warranty Insurance

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Builders Warranty Insurance

Cover for your owner builder or licensed builder clients.

QBE provides Builders Warranty insurance for:

Licensed builders in Western Australia, South Australia and the Australian Capital Territory
Owner builders in Western Australia only.

What is Builders Warranty insurance?

If a home is being built or renovated, Builder Warranty insurance is mandatory cover that protects the homeowner against financial loss for incomplete or defective workmanship in the event the builder dies, disappears, or becomes insolvent. In WA, Builder Warranty Insurance also provides cover you if the builder has their licence deregistered by the State Administrative Tribunal, or it’s not renewed by the Building Services Board on grounds that they failed to meet the financial requirements as set out by the Building Services (Registration) Act 2011.

Homeowners who have engaged a licenced builder: it’s a mandatory requirement that a builder takes out this cover on behalf of the homeowner. The cover is required to be in place before accepting payment or commencing works.
Owner builders: The homeowner is not required to take cover out while they own the property. If the property is sold and the home and the building work meets certain conditions, it’s a requirement to take out cover to protect future owners.

To find out more, select your client’s state below.

To find out more, and to access the appropriate policy wording, select your client’s state below.

ACT

Known as Residential Building Warranty insurance, it covers homeowners for loss of deposit, incomplete or defective building work if their licensed builder dies, disappears or becomes insolvent. It’s a requirement for the builder to secure this cover on behalf of the homeowner if the residential building work is valued over $12,000.

For more information on ACT regulations visit ACT Government Planning.

QBE policy wordings

Residential Building Insurance Policy - Residential Builders - ACT

SA

Known as Building Indemnity insurance, it covers homeowners for loss of deposit, incomplete or defective building work if their licensed builder dies, disappears or becomes insolvent. It’s a requirement for the builder to secure this cover on behalf of the homeowner if the residential building work is valued over $12,000.

For more information on South Australian regulations visit Consumer and Business Services.

QBE policy wordings

Building Indemnity Insurance Policy - Residential Builders - SA

WA

Known as Home Indemnity insurance, it covers homeowners for loss of deposit, incomplete or defective building work if the builder dies, disappears or becomes insolvent, or if the licensed builder has their registration cancelled by the State Administrative Tribunal, or not renewed by the Building Services Board on the grounds that the builder has failed to meet the financial requirements as set out by the Building Services (Registration) Act 2011.

For licensed builders — It’s a requirement for the builder to secure this cover on behalf of the homeowner if the residential building work valued over $20,000.
For owner builders — It’s a requirement for the owner to secure cover if they are selling the property and the building work was valued over $20,000 and was completed in the last seven years.

For more information on WA regulations visit Department of Industry Mines Regulations and Safety.

QBE policy wordings

For Certificates of Insurance issued on or after 01/06/2020, refer to this policy wording:

For Certificates of Insurance issued up until 31/05/2020, refer to this policy wording:

Certificate register

To confirm the validity or registration of a Certificate of Insurance, the QBE Certificate Register enables homeowners to confirm that a Certificate of Insurance has been issued by QBE on a site in the last 10 years.

The register is for general information purposes only and is not a Certificate of Insurance. A Policy number or street address is required to access a certificate.

Certificate register

Builders Warranty updates

Access the latest news and announcements about Builders Warranty insurance.