Home warranty insurance for licensed builders and contractors
Obtaining eligibility
Whether seeking home warranty insurance for the first time or to review present arrangements, the builders are required to present applications and documentation to obtain eligibility from an insurer.
The level of turnover sought can vary the process.
Pricing can only be determined once the insurer has assessed your application.
We recommend you talk to one of our experts who can assist you to choose the product best suited to your business.
Insurance coverage
If you are a licenced building contractor dealing directly with home owners, and you undertake work that is required to be warranted in your state, then you must purchase home warranty insurance prior to commencement of the work, or enforcing a conditions under a residential building contract.
Legislation outlining the extent of home warranty insurance cover to the home owner varies across the country, the following chart provides a brief comparison of the various state requirements.
| Period of Warranty Cover | Maximum Payout | Minimum Value of work to be insured | Excess Payable | |
| VIC | 6 years | $200,000 | $12,000 | YES |
| NSW | 6 years | $300,000 | $12,000 | YES |
| NT | 6 years | $80,000 | $12,000 | YES |
| SA | 5 years | $80,000 | $12,000 | YES |
| QLD | 6.5 years | $200,000 | $3,300 | NO |
| ACT | 5 years | $85,000 | $5,000 | YES |
| WA | 6 years | $100,000 | $12,000 | YES |
| TAS | 6 years | $200,000 | $12,000 | YES |
NB: All information and limits noted in the above table are provided for comparison only. Full details in respect to the complete state requirements should be sought from your state government authority.
What do I need to do to change my present warranty profile?
Once you have established your eligibility through HIA Insurance Services, you may need to vary your profile from time to time. For example you may wish to:
- Increase your turnover
- Increase your contract value limit
- Apply for Architect tender work
We recommend you talk to one of our experts who can advise you about the insurer requirements for changes to your eligibility.
Need a certificate of insurance for a new project?
If you already have home warranty insurance eligibility with HIA Insurance Services, you need a specific project application form to obtain an insurance certificate for each building project. Visit our forms page for these applications.
New builders
Just starting out? This is for you.
Home warranty insurance eligibility
All products have different eligibility criteria and pricing. Pricing can only be determined once the insurer has assessed your application.
We recommend you talk to one of our experts who can assist you to choose the product best suited to your business.
Concerned about a business risk?
HIA Insurance services specialises in insurance for the building & construction industry.
Contact us we'll be in touch within 2 working days.