Sell your home with confidence because prospective purchasers will know your owner builder works meet all statutory and building code requirements, and your home is a quality built home, because your Home Warranty Insurance is authenticated and approved by the Victorian Government Insurance Authority. This seal of approval demonstrates to all prospective buyers you care enough to offer the very best Home Warranty Insurance available, because it’s backed (underwritten) by the Victorian Government insurer.
Domestic Building Insurance underwritten by Victoria’s Statutory Warranty Insurer, makes an overwhelming case for not risking an unknown or foreign insurer when so much is at stake as receiving the very best price for your home. Purchasers know and are on the look out “when things don’t look right, or sellers are taking short-cuts or trying to do things on the cheap”,.
Qtrust’s, 4 Pillars of Home Warranty, is what sustains our Most Preferred Owner Builder Home Warranty Insurance Firm∗:
- Fair premium reflective of the cover period required to meet your Home Warranty obligations
- Well balanced insurance coverage protecting purchaser and vendor/seller, fairly with least cost, and underwritten by the ultimate Home Warranty Insurer, Victorian Managed Insurance Authority
- Professionally competent client services teams to guide owner builders for best possible outcomes
- Our insurance premiums reflect our size, experience and monthly transaction volumes, which allows us to pass discounts onto to you. We don’t change our valued clients credit card fees either, so more savings
Lets get started. You will require a Home Warranty Insurance Application Form (request your Form here)
Or you may prefer to speak to an expert (03 9886 9034). The Home Warranty Team is available 7 days (weekends are the most active, so leave a detailed message with reception and we will return your call).
Home Warranty expectations: Don’t be too precious. Robust Defects Report saves Owner Builders money and worry. Defects Report sounds terrible particularly now selling your home and you know in your mind, there are no defects. Right? No, wrong! Defects Report is an owner builder’s best friend and saviour during the home warranty period. There is no better tool or legal argument than a robust Defects Report. We tell you why you should select your Defects Report provider carefully and whatever, don’t rely on insurance salespeople to make recommendations. They are commission driven, and in most cases are unqualified to do so.
Background notes: Owner builders hold ongoing obligations for years, so reducing or eliminating unresponsive insurance risk is paramount.
Home warranty class of insurance is unlike traditional insurance because it responds by insuring a purchaser of your home, should you not be able to rectify structural construction faults or defects during the home warranty period.
Home warranty period is determined as six and a half years from the date of final inspection or certificate of occupancy, and the owner builder project exceeded $16,000, and furthermore an owner builder wishes to sell the home.
The worry point for most owner builders is uncertainty of how home warranty protects them. After all selling the family home is a big deal and there’s enough to worry about, without the additional cost and effort of procuring more insurance. However, home warranty is mandatory when the period between occupancy or final inspection is less than six and a half years. For the reason of carrying future financial obligations well after the family home is sold is the unequivocal driver why diligent owner builders choose Victoria’s Statutory Warranty Insurer, through Qtrust.
Advisory firms, such as Qtrust employ qualified and licenced home warranty specialists, who advise, assist and provide deeper insights into how best owner builders may best protect from future uncertainty. An uncertainty where home warranty insurance only clicks-in in the most disastrous situations that the owner builder project has defective works which cannot be rectified because the owner builder has, died, disappeared or become insolvent; or failed to comply with a Tribunal or Court Order.
Like all insurances, it’s the quality and reputation of the underwriter that matters. Unheard off, unknown or foreign insurers make smooth promises and promote their products offering low docs, no questions asked and everything is easy. In actual fact, wise and experienced owner builders have learnt, nothing is easy and low documentation means when ‘the going gets tough’ you’re on your own. Generally an industry rule, if ‘unheard of’ before you buy, then likely never to hear from them when needed.
Sam Greco, Principal Qtrust Insurance & Advisory, suggest owner builders should rely on good advice from experienced practitioners before settling on their home warranty provider.
∗Conveyancers Vic. Owner Builder Survey 2017Tags: Builders Warranty Insurance, Building insurance, construction insurance, defects report, Defects Reports, home warranty, indemnity insurance, Owner Builder Home Warranty Insurance, owner builder insurance, Vic Managed Insurance Authority, VMIA, Warranty insurance
Categorised in: Victorian Owner Building
This post was written by Technical Underwriting Centre