OWNER BUILDER

INDEMNITY INSURANCE

Selling your home in WA


Owner Builder Home Indemnity Insurance is required in Western Australia when an owner builder sells their dwelling within the Statutory Indemnity period.


The Period of Cover is 7 years from the Building License Issue date. Home Indemnity Insurance covers Residential/Domestic Building Work. Multi Unit developments exceeding 3 stories and fully leased retirement villages and pools are exempt from obtaining Home Indemnity Insurance.

The minimum value of works required to obtain Home Indemnity Insurance is $20,000. The maximum amount that can be claimed under a Home Indemnity Insurance policy is the value of contract work with a limit of $100,000.The purchaser and any subsequent purchaser of the home, not the actual owner builder, can claim on their Indemnity Policy if the owner builder has become insolvent, died or disappeared.

Home Indemnity Insurance only covers defects, which are not identified in the Inspection Report that are identified within the 7 year Statutory Indemnity period. Failure to provide this insurance prior to selling the property can result in fines up to $10,000. If a contract of sale has been entered into without providing the Indemnity Insurance, the purchaser has rights to pull out of the sale prior to completion of the contract.

AOBIS is Australia’s exclusive Owner Builder underwriting agency – we know, live and protect Owner Builders across the nation. We don’t tie our customers up in paper work. We speak in plain English. Our job is to serve with professional ease, swiftly, and with detail and confidence.

Need a home indemnity quote – this is what we require

Cost of residential Owner Builder works
Current Defects Report, prepared by an approved Building Inspector
Building Licence from Council
Owner Builder BRB/BSB certificate
Drivers Licence
Complete and sign Owner Builder Indemnity Application form
Our response time to generate your Indemnity Certificate is normally within 120 minutes and of course subject to quality and detail of the application.


Policy Covers:

AOBIS policy wordings are in plain English, with no confusing builder terms and definitely no unnecessary cover which adds to premium costs Includes unlimited emergency ambulance cover
Includes unlimited emergency ambulance cover No Medicare Levy Surcharge on your tax bill if eligible
Access private hospital accommodation No Lifetime Health Cover loading fees if you have Hospital Cover by July 1 following your 31st birthday

FAQ

Frequently Asked Question

Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown
printer took a galley of type and scrambled

If Owner Builder Warranty Insurance is not obtained and your property is sold you risk fines and penalties of up to $10,000. The prospective purchaser also has the right to pull out of the sale agreement without any penalties.
Obtaining Owner Builder Warranty or Indemnity Insurance is a LEGAL responsibility. As an Owner Builder/renovator it pays to be aware of all your liabilities
Add some content to your accordion item here.
Add some content to your accordion item here.
Add some content to your accordion item here.
If Owner Builder Warranty Insurance is not obtained and your property is sold you risk fines and penalties of up to $10,000. The prospective purchaser also has the right to pull out of the sale agreement without any penalties.
Obtaining Owner Builder Warranty or Indemnity Insurance is a LEGAL responsibility. As an Owner Builder/renovator it pays to be aware of all your liabilities
Add some content to your accordion item here.
Add some content to your accordion item here.
Add some content to your accordion item here.

NEWS

Latest Blog Articles

Have any question or need any Consultation?