Domestic Building Insurance (also known as Warranty Insurance) is a mandatory type of consumer protection cover in Victoria and Western Australia. The requirements vary slightly between the states but in all cases the insurance is for the benefit of the purchaser (not the owner builder). The insurance is required where an owner builder sells the property on which they have constructed building works (over $16,000 in value) within the prescribed period set by legislation (6 years from completion in VIC and 7 years from commencement in WA).
When you are selling a property on which you constructed, managed or arranged “domestic building works” as an owner builder (ie the total project was not the subject of a Contract with a Registered or Licenced Builder, who provided a separate Warranty Policy), and those works were completed* within the last 6 years, then you may be required to provide certain statutory warranties, reports and domestic building (warranty) insurance for the benefit of the purchasers, prior to entering into a Contract of Sale.
We realise that this insurance is often not fully understood by the owner builder and can hold up a pending sale, so the staff at Building Industry Solutions pride themselves on offering fast, courteous and hassle free service to assist you in understanding and providing the necessary documents pertinent to the sale of your owner built property.
How do I find out more?
Please take the time to look at our Consumer Advice Sheets on this type of insurance or call or email (email@example.com) for advice.
We can Offer you
- Informative Consumer Advice Sheets “Everything you need to know about Selling a Domestic Owner Built Property.
- Full checklist so you can tick off all the required documents
- Comprehensive list of our preferred Practitioners for the required independent Inspection Report with telephone numbers and contact names. (If you make use of these inspectors we can also discount the insurance premium VIC & WA only).
- We can also accept your payment by credit card, electronically, or on the spot, (by appointment) in our office for those really urgent deadlines!
Everything you nee to know about Selling a Domestic Owner Built Property
Owner Builder Warranty PROPOSAL FORMS
Please download the Checklist with the Proposal
Checklist Proposal Form
Owner Builders Warranty Insurance – POLICY WORDING
Building Industry Solutions Pty Ltd Authorised Representative Number 000273818 Authorised Representative of Commercial & General Insurance Brokers (Aust) Pty Ltd AFSL: 231183 ABN: 12087001045 Authorised Representative of QBE (Aust) Limited AFSL: 239545 ABN: 78 003 191 035 Corporate Agent of CGU Insurance Limited AFSL: 238291 ABN: 27 004 478 371