Owner Builders Insurance
Owner Builders have many responsibilities and potential liabilities when constructing and overseeing their building works. An 'owner builder' needs to take out the right insurance protection and if intending to be 'hands on', also consider Income Protection Insurance for themselves and up to 9 other 'volunteer' (unpaid) workers. We can help promptly assist you with obtaining the correct cover to give you peace of mind. When selling we can help obtain the mandatory, in many States, Home Warranty Insurance.
Owner Builders Insurances page navigation
- Owner Builder Construction & Public Liability Insurance WHEN BUILDING
- Owner Builder Protection- Personal Accident + Volunteer Workers Insurance
- Owner Builder Home Warranty Insurance WHEN SELLING &Defects Inspection Report
- Insurance Needs home page
Owner Builder Construction & Public Liability Insurance WHEN BUILDING
| Quotation options for Owner Builder Construction & Public Liability Insurance:
1. Online Form 2. PDF Form (download) 3. Phone: 1300 884 876 (Mon-Fri 9am-5pm) |
The Building Centre Network's Insurance Provider can assist Owner Builders by organising Owner Builder Construction and Public Liability Insurance quickly and at a competitive price. The policy is designed for the owner builder, and unlike a lot of 'standard policies' being offered by many insurers, this insurance cover contains many additional benefits. For example if you will be renovating or extending, you will enjoy cover on your existing home structure and your contents, if you are living throughout the time of building.
What does the Policy cover?
- Construction Insurance
Construction insurance covers owner builder’s throughout the building & construction stages of their project. It covers owner builders against malicious damage & vandalism, theft, fire damage, storm, wind and water damage. The policy we endorse also provides cover for demolition costs and professional fees in the event of a major claim (for up to 10% of the insured construction value) at NO additional premium cost. - Public Liability Insurance
This part of the Insurance policy covers owner builders against the unfortunate, but possible event of third party personal injury and property damage, which may occur. It is still an essential part of the owner builders insurance regime, even though a home owner may have house hold insurance on a house they may be renovating. Many usual home insurance policies, which may otherwise cover occupiers liabilities for such occurrences, may not do so where renovations and building work is taking place, as the property inherently becomes open to hazards which are not usually there through normal occupation of a property, and therefore go beyond the coverage of the regular policies.
This is something very important to keep in mind, as Owner Builder Construction & Public Liability Insurance is not compulsory, but you have to ask yourself, would you carry the risk of not having it? In fact, one should always remember, that through no fault of your own, your building project can be exposed to fire theft, vandalism, weather, or anyone of a number of other kinds of losses.
The Cost Factor
Price is also another important factor one should consider when looking at Owner Builder Construction & Public Liability Insurance, because the old adage of “getting what you pay for” rings no more truer than here.
All insurance policies are NOT the same, and there is no point in investing in a thrifty insurance policy if it doesn't fully protect you in the event of a substantial loss, and after all, isn’t this the primary reason for having a policy in the first place! A substantial financial loss on uninsured building works or liability would cause financial ruin to practically any owner builder, so don’t gamble your financial lively hood on “thrifty policies”, which may have an attractive entry premium, but not the kind of cover you need to protect you.
If you have obtained finance for your project, practically all lending institutions, will generally require that you take out all risks Construction and Public Liability Insurance, prior to releasing funds.
- Period of Cover
Our endorsed insurers Owner Builder Construction & Public Liability Insurance generally provides you with 12 months cover.
Should your project take more than 12 months to complete, you do have an option of extending your cover for another 6 month period, followed by a subsequent extension of 6 months after that should you need it.
So basically, you can have up to two years worth of cover, without needing to re apply for your all risks insurance, and that is just one of the many great options of flexibility which you have through our endorsed policy. - Things to consider when comparing our endorsed insurance policy with other policies in the market place
- Does the Public Liability policy provide a minimum $5,000,000 coverage?
- Is the insured value the actual replacement value of the project?(always seek professionals advice on replacement values).
- In the event of a major claim, does the policy automatically cover demolition costs and professional fees associated with rebuilding the property, or does this cost extra?
- What is the policy period and can it be extended if your building project takes longer than expected?
- Does the policy cover existing structures on the property? (i.e. existing house where extension and renovation proposed). Note you should advise your existing house and contents insurer prior to commencement of your intention to undertake construction works.
- Does the policy include Professional, demolition and removal of debris fees?
- If the works have commenced, is it possible to obtain insurance cover?
(Please note that although our insurer will cover a commenced project, higher premiums do apply).
Make sure you don’t risk your financial livelihood. Let us assist you by arranging the right policy for you, through our preferred insurer, and make sure your building project, is fully covered.
To obtain a free obligation Owner Builder Construction and Public Liability (OBCPL) quotation, either send in an OBCPL Online Application Form OR complete the PDF Application Form OR telephone us, Monday to Friday, on 1300 884 876 or +61 2 8303 0545 Monday to Friday 9:00am to 5pm (AEST), to inquire about such services or to make a booking for an on-site Inspection or Advisory Service.
Remember, The Building Centre has a range of fee-for-service services to guide and help you. There is no substitute for experienced an independent advice. Call us on 1300 884 876 or +61 2 8303 0545 Monday to Friday 9:00am to 5pm (AEST), to inquire about such services or to make a booking for an on-site Inspection or Advisory Service.
Owner Builder Income Protection- Accident + Volunteer Workers Insurance
| Quotation options for Owner Builder Income Protection- Accident + Volunteer Workers Insurance:
1. Online Form 2. PDF Form (download) 3. Phone: 1300 884 876 (Mon-Fri 9am-5pm) |
Owner Builder Personal Accident (injury and income protection) and Volunteer (unpaid) Workers Group Insurance... provides protection for you and up to another nine family or friends who may be helping you on site.
What the Personal Accident & Volunteer Workers Insurance Protection covers:
- Up to 26 weeks cover benefit period.
- Cover is eligible for persons between the ages of 18 to 60 years old.
- Covers up to 75% of the wage or salary; up to a maximum of $500 per week.
- Capital Benefit by - Death, Paraplegic and Quadriplegic accidents with a lump sum of $20,000 per person.
- Protection for up to 10 workers including the Owner Builder.
- There is a 7 day waiting period prior to making a claim.
If you are planning to work yourself, or to help tradesmen, if is highly advisable to take out Personal Accident and Volunteer Workers Insurance, to provide some insurance protection, if you are injured or incapacitated and cannot attend your employed work. The insurance policy also provides up to 10 volunteer workers also helping you who are not being paid.
A building site can be a very dangerous place. If you are planning to build as an Owner Builder and do work yourself in an unpaid capacity, or have your spouse, partner of friend help you, if you are injured or incapacitated so that if any of you cannot return to your employed job, you or they will be significantly financially compromised. How would you feel if a family member or friends were badly injured helping you as a volunteer, i.e. not paid by you?
Construction Insurance only protects paid workers on the Owner Builder site.
If you plan to work on your Owner Builder project, and wish you have insurance protection, we can assist you. Click on the Online or PDF Quotation Form links above, and we will arrange for our Insurance Provider to organise a quotation for you.
OB Home Warranty Insurance when SELLING & Defects Inspection Report
| Quotation options for Owner Builder Home Warranty Insurance (when selling):
1. Online Form 2. PDF Form (download) 3. Phone: 1300 884 876 (Mon-Fri 9am-5pm) |
| Quotation options for Owner Builder Defects Inspection Report:
1. Online Form 2. PDF Form (download) 3. Phone: 1300 884 876 (Mon-Fri 9am-5pm) |
An Owner Builder Defects Inspection Report is a post construction report to identify builders defects, it is required when taking out Owner Builder Home Warranty Insurance when SELLING, which is compulsory in ACT, NSW, VIC and WA.
"Home Warranty Insurance" is the insurance cover that is required when selling an owner Built project, which has to be arranged and provided for a new or renovated home built by a legal Owner Builder, usually for a period of 6 years in NSW, VIC and W.A. from the date of issuing by your local Council of an Occupancy Certificate on completion. In July 2002 in Victoria, the period was changed from 7 to 6 years after the Certificate of Occupancy was issued.
We can co-ordinate and assist you to obtain the Defects Report and Owner Builder Home Warranty Insurance. Click on the specified Online or PDF Quotation Form links above, and we can arrange to organise a Defects Inspection Report or Home warranty Insurance quotation for you.
Home Warranty Insurance Read more>>
If you would like to enquire more about insurances you can also click here for our online enquiry form, OR post details to the Building Centre Network Suite 209, 410 Elizabeth street Surry Hills NSW, 2010 Australia.
