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Home Warranty Insurance


Frequently Asked Questions

Q: How do I renew my Commercial Building Licence? 

A: Once you have paid for Builders indemnity Insurance / Home Warranty Insurance, you will receive back from our office a stamped paid copy of the invoice and coverage summary which then needs to be forwarded to the Building Practitioners Board for licence renewal.

Q: How long does my job specific Home Warranty application take to process?

A: Generally, your job specific application will take between 24 to 48 hours from receipt to final process. To ensure that we can process your application in a timely manner, please complete all the relevant questions on the application form.  All the details that we require should be contained in your contract with your client.


Q: When I submit a builder profile change, how long will processing take?

A: From receipt of all the requested documentation, your builder profile change will take approximately 20 days to process.  Please include as much of the information requested on the relevant checklist as possible.

 

Q: How do I cancel or amend an issued Home Warranty insurance certificate?

A: The documentation that we require to cancel or amend a Home Warranty certificate will depend on which insurer has issued the certificate. If you need to cancel or make a variation to a certificate, please download the relevant form from our Apply page

 

Q: How can I increase my Home Warranty insurance limits?

A: Each insurer has an application form to allow you to request a variation to your existing eligibility profile. 
We recommend you talk to one of our experts who can advise you about the insurer requirements for changes to your eligibility. 

 

Q: What sort of asset base is expected when I am applying for Home Warranty insurance eligibility?

A: This will be dependent on your business entity structure and the individual insurer’s requirements, however as a general rule your net tangible worth should be approximately $50,000 or 10% of the yearly turnover limit that you are requesting.

 

Q: Why have I been asked for a financial assessment?

A: There are many varying reasons that could instigate a financial review, these include:

  • You have exceeded your yearly turnover limit
  • You have exceeded your individual contract limit
  • The insurer has requested the review as part of their regular review process
  • If you are unsure why you have been requested to undergo a financial assessment, please contact your relevant branch to discuss.
 

Q: For the Builders Indemnity / Home Warranty policy, what is the definition of structural turnover? 

A: The definition of structural turnover for the Builders Indemnity / Home Warranty policy is anything that is integral for the building to stand up.  This will include foundations, columns, beams, floor slabs, retaining walls, external load bearing wall, portable frame, structural timber framing, trusses, load bearing lift shafts and roof framing. 

Q: What is a speculative home?

A: A speculative home is only recognised as such when the owner of the land on title is exactly the same as the name of the building entity.  Where this is not the case, a domestic/residential contract should be entered into.