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Registered Builder Warranty Quote

Builders Warranty goes by different names in different States, and sometimes even in the same State, but while the legislation covering this in each State also varies, the concept remains basically the same.

WHEN IS IT NEEDED?


Where a professional builder / contractor performs residential work for a third party, where such works are of a substantial value (the threshold varies by State) they must provide a warranty certificate to the owner before the works commence. It’s mandatory in all States, except Tasmania.


WHAT DOES IT COVER?


The insurance cover itself is designed to provide financial compensation to the owner, for incomplete or defective works, in the event that the builder:
1) dies
2) disappears, or
3) is bankrupt.
Because it is traditionally limited to those scenarios, it’s often referred to as an “insurance of last resort”.
Some recent reform has improved this however. In VIC a 4th trigger “deregistration / loss of license” is added, which broadens the cover. Qld takes it further, and compensation is often available even without these 3-4 conditions being met.

ABE Education is proud to recommend Coverforce due to their specialist expertise, great products and competitive pricing. ABE Education is a referrer only for insurance products and cannot provide advice in relation to the cover you may need. This information and quote are provided by Coverforce Insurance Broking Pty Ltd ABN: 45 127 707 813, AFSL No: 302522.
ABE have entered into a referral agreement with Coverforce Insurance Broking Pty Limited (ABN 45 127 707 813) (the Referral Agreement).
Under this Referral Agreement, we will receive up to 20% of broking revenue for each sale and renewal of an insurance product that is placed as a result of our referral to Coverforce.

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