Owner Builder Insurance NSW
NSW owner builder, we salute you. Taking charge of your own home build, renovations or remodelling project is no mean feat. However, if you have the time and expertise, you can reap several rewards – not least financially by removing expensive builder’s costs.
You’ll get the opportunity to make your own mark on each step of the project and bask in pride when the finished project is finally unveiled. If committing to building your own home or undertaking works on your home in NSW, you’ll need to be aware of certain legal stipulations.
There many owner builder requirements NSW government authorities have put in place, including the need to apply for a permit if the works amount to more than $10,000 and most importantly, the need to assume full responsibility for all aspects of the project, including:
- Supervising all tradespeople on site
- Ordering all materials
- Securing all necessary council and local authority permissions and permits
- Ensuring financial, taxation and insurance requirements of the works fully comply with all laws
- Following your obligations under both the Workers Compensation Act 1987 and the Work Health and Safety Act 2011 to provide a safe work environment to all workers on site
- Ensuring any contractor employed to work on the project is licensed and insured to carry out the works they are contracted to undertake
- Ensuring that the materials and works are oh a high standard enabling the property to be fully and safely inhabitable
An important aspect to note is that in acting as the registered builder on the project, any owner builder NSW wide must ensure that they have adequate insurance in place.
After all, in the case of any injury to contractors or site visitors, any damage to the environment or surrounding properties, any theft of equipment and any unforeseeable risks such as weather damage, the costs of any resulting claims must be borne by you.
The leading owner builders insurance NSW provider
At Qtrust, we specialise in matching owner builders like you with the best-fit owner builder insurance NSW has to offer. We’re not here to sell you insurance.
We’re here to match you with the cover that is offers the right cover, capabilities and expertise for your specific financial and risk needs. Call our expert team today to discuss your queries, learn about legal obligations and the specific cover you require.
Are you ready to take out owner builder insurance? Get your best value quote online with Qtrust – simply log on to our website and get a quote within minutes.
What Should Be Covered by Owner Builders Insurance in NSW?
If you’re an owner builder, NSW has plenty of different companies offering various insurance policies for you to choose from.
Sometimes, the sheer number of options and the seemingly endless supply of new information can be quite confusing and frustrating, so it’s important to know what to look out for when it comes to deciding which policy to go with.
The owner builder insurance NSW insurance companies offer their customers should always include certain areas of coverage, including:
- Subcontractor and worker to worker injury
- Subcontractor actions
- Storm, wind, water and rain events
- Vandalism and malicious damage
- Theft and burglary
- Fire including bushfire
- Personal accident/injury
- Voluntary worker insurance optional
Before you decide to choose any insurance company for your owner builders insurance in NSW, be sure to check that all of the above situations are covered by their policy – if they aren’t, you can’t be sure that your insurance will be there for you when you need it most in the event that something does go wrong.
The Importance of Public Liability for a NSW Owner Builder
Owner builder insurance in NSW should also include more than just the above coverage. One area that often gets overlooked is public liability – but it’s absolutely vital that any NSW owner builder who is serious about minimising the risk involved in their project is 100 percent covered when it comes to accidents involving third parties.
In Australia, public liability law is highly developed and complex, and there are many situations in which an owner builder will be deemed legally responsible for the health and safety of visitors to their premises.
In fact, if someone does have an accident on your property during a refurbishment or any other kind of building work, it’s highly unlikely that you won’t be deemed legally responsible for the incident.
As a result, an owner builder in NSW should always be extremely careful to ensure that he or she has complete public liability coverage included as part of their insurance.
Owner Builder Warranty Insurance NSW
If you’re planning on selling your property, you should definitely consider investing in owner builder warranty insurance. NSW may not be one of the states in which this insurance is mandatory, but it still benefits sellers to ensure they have it.
Essentially, warranty insurance protects the buyer of your property. In the event that anything goes wrong with any of the construction or refurbishment works you’ve completed as an owner builder and you’re for whatever reason unable to foot the bill, the insurance company will pay for the repairs.
When as a seller you have the ability to reassure any potential buyers that they’re protected with warranty insurance, you’ll undoubtedly find they’re much more likely to make you a generous offer for your property.
Qtrust provide owner builder insurance for all owner builders in Australia. If you need owner builder warranty insurance or home renovation insurance, give us a call and let us talk you through your best options. We specialise in services for owner builders in NSW, Victoria, QLD and WA.