Builders in Victoria are required by law to take out Domestic Building Insurance (DBI), also known as Builder’s Warranty Insurance, for work valued at $16,000 or more1. Builders must have a Domestic Building Insurance Certificate before they start work or ask for a deposit or any other payment. Having Domestic Building Insurance eligibility is a requirement for maintaining a Victorian building registration.
Domestic Building Insurance protects homeowners in Victoria from financial loss as a result of incomplete or unsatisfactory work carried out by a builder or tradesperson who has died, disappeared or become insolvent. Subsequent owners are also protected during the period of cover.
Domestic Building Insurance eligibility is a requirement under Victorian law to operate a building business. It provides confirmation that builders have been assessed by the insurer, the Victorian Managed Insurance Authority (VMIA), and have satisfied the necessary criteria.
Domestic Building Insurance protects homeowners against financial loss if a builder cannot complete residential building work or meet a valid claim for faulty or defective work in cases where:
Any licenced building contractor who undertakes residential building work valued at $16,000 or more is required to take out Domestic Building Insurance in the name of the owner before commencing work or accepting payment.
Any builder who does not take out Domestic Building Insurance as required can be prosecuted by the relevant statutory authority, fined and may risk losing their builder's registration.
Builders can access the BuildVic Domestic Building Insurance Portal, which allows them to purchase Domestic Building Insurance directly via their computer or mobile device. It also enables builders to:
Note that you need to have first nominated a DBI Distributor before you can access the portal. If you are a new builder wanting to apply for eligibility, contact a DBI Distributor directly. Or if you are a builder with current eligibility, contact the new DBI Distributor who will provide you with the information you require.
Visit the VMIA BuildVic portal to purchase Domestic Building Insurance directly.
To help our clients navigate the BuildVIC portal, we have created the educational video below:
1As at 1 June 2021.
2Subject to the policy terms and conditions.
Domestic Building Insurance for the Building and Construction Industry in Victoria is issued by the VMIA, on behalf of the Government of Victoria. If you purchase this insurance through HIAIS, HIAIS will receive a commission that is a percentage of the premium. Further information can be found in HIAIS’ FSG or provided upon request.