Owner Builder Insurance WA
Are you considering assuming the role of owner builder on the build of a new home, renovation or remodeling project? The benefits to such an ambition are undeniable.
You’ll get full control and accountability for each and every step of the project, be free to execute your own creative direction and desires, get all of the great and beam with pride upon project completion and of course, you’ll save yourself a lot of money.
Construction companies can command up to 25% of your project fees after all! However, if owner building in Western Australia, you will need to be aware of the specific role and responsibilities you are required to assume as dictated by government.
Any owner builder WA wide must assume the following responsibilities:
- The owner builder must ensure to meeting all build codes and health and safety standards including the Building Code of Australia and Occupational Safety and Health Act 1984.
- The owner builder is responsible for applying for and obtaining all required permits, submitting any required notices to building authorities and local government and meeting all and any other requirements of the Building Services Acts.
- The owner builder must manage and supervise each and every step of the entire building project.
- A WA owner builder must have owner builder home indemnity insurance in place if they wish to sell their home within 7 years of the owner builder permit being issued. They must also assume responsibility for assuming any other insurance cover needed to protect against project risks.
- Owner builder requirements WA also declare that owners builders must display a sign featuring their owner builder approval number and their contact details on their property while works are on-going.
While adhering to building codes, erecting owner builder signage, obtaining permits and supervising all team members and contractors is down to you, we can help you with organising appropriating insurance cover.
Most Affordable & Comprehensive Owner Builders Insurance WA
At Qtrust, we provide the most affordable yet comprehensive owner builders insurance WA has to offer. Your project is only a complete success if you are adequately protected against any financial risk arising from legal claims.
We can help ensure you are protected against for a variety of reasons including employee injury, sub-contractor error or negligence, environmental impact, neighbouring sidewalk, property or road damage, property loss or damage, loss or theft of tools and equipment and much more.
We complement this offering with the best owner builder warranty insurance WA has to offer too, ensuring you can legally sell on your property within the 7 years following owner builder works.
What Should Owner Builder Insurance in WA Cover?
If you’re an owner builder, WA offers plenty of different companies with competing insurance policies to choose from. But it’s important to remember that not all of these policies provide the same levels of coverage, and there are certain things which it’s absolutely essential you look out for.
Things which you should definitely make sure are included in your policy are:
- 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
Being covered in all of the above areas will give you the peace of mind that comes with knowing that you’re prepared for virtually any challenges your project may throw at you. But it’s also important to ensure that your policy includes public liability insurance. Some policies don’t include this essential coverage, and the consequences can be drastic.
In a developed common-law jurisdiction like Australia, public liability law is extensive and can get quite complicated. Essentially, as an owner builder in WA, you have to be prepared to take responsibility or any accidents that occur involving third parties on your property – in some cases, regardless of whether or not you directly invited them there.
The financial costs associated with reimbursing an individual after they’ve been involved in an accident on your property can be substantial, and have been known to completely cripple a project. As a result, it’s always important to make sure that your owner builder insurance in WA includes fully comprehensive public liability insurance.
Owner Builder Warranty Insurance WA
If you’re planning on selling your property after you’ve finished your construction or renovation work or if you’re currently trying to sell a property on which you’ve completed such work in the last few years, it’s always worth considering taking out owner builder warranty insurance.
WA sellers will in fact find that such insurance is essential, as the law of Western Australia requires all owner builder sellers to be insured. Warranty insurance is essentially designed to protect the buyer rather than the seller, but – aside from being required by law – having the insurance does in fact benefit both parties.
Warranty insurance guarantees the buyer that, should anything go wrong with any of the owner builder’s construction or renovation works during the warranty period, and should the owner builder be unable to pay for the repairs for whatever reason, the insurance company will instead foot the bill.
This gives the buyer maximum peace of mind and makes them far more likely to put in an offer for the property – and it also means that the seller can expect to sell their property for a larger sum than they’d be able to if it was uninsured.
If you have any questions about owner builder insurance, please feel free to call our expert team today on 1300 798 991 for advice and assistance. Otherwise, for the most affordable owner builder insurance WA wide, log on to our website and get a quick quote online now.
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.