Home Warranty Insurance Owner Builder Vic

March 15, 2018 9:41 am Published by 28 Comments

 

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∗:

  1. Fair premium reflective of the cover period required to meet your Home Warranty obligations
  2. 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
  3. Professionally competent client services teams to guide owner builders for best possible outcomes
  4. 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.

Read more – what vendors need to know and what purchasers understand home warranty insurance

insurance

∗Conveyancers  Vic. Owner Builder Survey 2017
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This post was written by Technical Underwriting Centre

28 Comments

  • pettai says:

    our conveyancer suggested we contact you to explain the how this insurance really works. we’re grateful for your assistance.

  • karl says:

    you should clearly explain how non aussie insurance companies come and make false claims. One company who promised cheap and fast insurance was actually slow and more expensive. The first email from them was the giveaway. Amateurish at best. Plain untrue claims at worst. keep up the good work work.

  • francis says:

    Good article cleared up a few things on my mind. why is it so complicated though.

  • Yellowstone Conveyancing Services MelbEast says:

    For some years now our practice has used and recommended the services of an agency. Since the changes to Home Warranty we re-evaluated our Home Warranty insurer,. We now know the difference between insurers and will only use VMIA authorised insurer. Through our experiences, Qtrust is heads and should over any other broker we have dealt with. We recommend them unreservedly. (Yellowstone Conveyancing Services MelbEast)

  • Mark Graham (Principal Solicitor) says:

    Thanks for taking the time out to visit our Head Office today. Conveyancing is a major part of our northern & eastern offices. Our Conveyancers express a preference to use your firms home warranty team because of their expertise and express delivery. Our firm relies on strong long term partnerships that build client trust and confidence. Qtrust is our preferred owner builder partner for this very reason.

  • megan ryan says:

    We got 2 quotes for our home warranty. Our local broker suggested we contact you also. We did, and were so pleased with your speed, and professional service, we bought your insurance. happy days.

  • valerie s says:

    our situation was messy with a family separation. but your team was fantastic. your attitude and responses were awesome tnx.

  • Bryce Sotto (Melb) says:

    i don’t write reviews as a rule , but my recent experience with your company, compels me to write: how surprised and delighted my wife and i were at speed and professionalism we experienced with your sales staff.

  • mario says:

    nice work guys. very quick service. fwiw your lousie is a awesome operator. tnx

  • ampotters says:

    very fast, very smooth process. your advice was very helpful.

  • Jennifer Raymond Property Conveyancing Services says:

    4 home warranty applications in under 1 hour! Thank you. We couldnt help but be impressed. Awesome work Louise.

  • dimondo@realtyinvestmentgroup says:

    As Melbourne ‘s largest real estate network group our members assist many owner builders selling their homes. Home warranty is mostly unseen until Section 32 is required. Then the rush starts, as the sale date closes-in. Our members proudly recommend your company for this delicate process. The quality of your Team responses and your end to end service including preparing the mandatory Defects Report is heads and shoulders above other brokers we have used in the past. Our members want clients to feel special. They want clients to feel they are important and with a sense of urgency because its in everybody’s interest to do so. Your company consistently delivers and responds to these important considerations. We look forward to a very long and fruitful relationship.

  • savahanna says:

    Don’t be afraid to ask, before your buy this insurance, because later is too late.

  • Elliott Nelson says:

    Our building surveyor recommended your company as someone we could trust. From our first contact with your company we felt we had found that trust. Thank you.

  • Freedom Property Consutants says:

    Sell your home with confidence when prospective buyers are informed your owner builder works meet all statutory and building code requirements and their Home Warranty is issued and guaranteed (underwritten) by the Victorian Government insurer. It doesn’t come any better or clearer to prospective buyers you care enough to offer the very best Home Warranty Insurance available

  • Peter (Victorian Building Centre of Excellence says:

    Home Warranty Insurance is dependent on current Defects Report. There is no way around this important element of this insurance. A Defects Report (also known as a 137B Report), has a life span of 180 days only, and should address all work regardless of value, including extensions, renovations, garages, decking, swimming pools, sheds, verandas etc.

  • Robyn Shaws Hastings Vic says:

    Under the Victorian Building Act 1993, Section 137B, a Defects Report can be as light as a one-page document, but if you are dependent on findings of this Report for up to the next 6 years or so, one page does not make the cut’’, no matter how small the owner builder project is defined. From an insurance underwriter perspective, one page’’ simply cannot provide adequate information to determine the best Home Warranty solution for the vendor – you, the owner builder.

  • Morrison&Co Property Consultants says:

    Defects Report sounds terrible particularly now selling our home and you know in your mind, there are no defects. Right? No, wrong! These guys really helped us with ensuring we dont carry liability beyond the sale of our home. Thank you

  • Kate Haris underwriter home warranty vic says:

    Home Warranty Insurance Vic. 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.

  • rubby sydney says:

    Builders home warranty has a terrible reputation grounded out of many years of insurers entering the Australian market dreaming of make a ‘killing’ and very soon thereafter discovering there is gold at the end of the rainbow, just high intensity, hands on client services, and withdrawing. Over the past 7 years no less than 5, have walked this path and checked out.

  • Houston Building Consultants says:

    So fast and easy and all done over the phone in 10 minutes. The most outstanding service ever received from an insurance broker. Automatic online document scanning and signature – woo, great use of technology.

  • tingira f-amilyhouse says:

    Warranty and guarantee sound impressive, but is the party making the promise trustworthy, and commercially reliable, with finances and infrastructure to make good on all promises.

  • 感谢您 says:

    一个非常好的公司,有非常诚实的人

  • Samantha Huch says:

    Vendors of owner built or renovated homes set their sights early on obtaining the very best price for their family home. They also take particular care in presenting their home in the very best light

  • jdwalking says:

    Warranty and guarantee sound impressive, but is the party making the promise trustworthy, and commercially reliable, with finances and infrastructure to make good on all promises. Thats why we choose you!

  • North West Suburbs Conveyancers says:

    I just want to let you, know your customer service staff are excellent. Their service levels are first class. In our recent land sales campaign your guidance and professional assistance helped us with some excellent results. The fact that your insurance is underwritten by the Victorian Government, meant buyers immediately appreciate the strength, legitimacy, and sincerity, behind this insurance. Thank you.

  • clareor says:

    Qtrust was our insurance for our renovation, so it seemed easy to use them for home warranty too. We can not recommend them highly enough for them very efficient service.

  • Gordon Vernables (Cockatoo Vic) says:

    We are delighted to offer a note on our experiences with qtrust. Very comfortable with their advice and knowledge.

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