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Home indemnity insurance covers the homeowner (and subsequent owners) for faulty, unsatisfactory or incomplete building work and loss of deposit should the builder die, disappear or become insolvent within 6 years from the date of practical completion.

Currently all residential building work valued over $20,000 must be covered by a policy of home indemnity insurance except when carrying out ‘associated work’ only ie: installing a swimming pool, kitchen cabinetry or landscaping.

It is compulsory for builders to take out a home indemnity insurance policy before accepting any payment or obtaining a building licence from the local government. The home owner must also be given a copy of the insurance certificate.

Owner-builders and builders who are building for themselves must take out a home indemnity insurance policy if they wish to sell their property within seven years from the time the building licence was issued. The insurance certificate must be provided to the prospective purchaser of the home before settlement occurs.

To discuss with an insurance expert, contact MBA Insurance Services 08 9476 9890 or visit www.mbais.com.au for more information.

Further information is available from the Builders’ Registration Board

Acknowledgement: www.builders.wa.gov.au

9 responses to “Home Indemnity Insurance”

  1. Mark Diedricks says:
    September 16, 2014 at 11:02 am

    Hi There

    Hope all is well? Just looking to compare quotes for builders warranty. I am currently with QBE through EBM insurance and looking to compare pricing to the MBA insurance

    Can you please provide a quote for builders warranty to 14 Swansea Street, Swanbourne

    The contract sum is: $749,985.01

    Regards

    • mbawa says:
      September 16, 2014 at 2:09 pm

      Thanks Mark for your enquiry.

      We’ve forwarded your request and details on to MBAIS who will be in contact with you to discuss!

      Kind regards
      Master Builders

  2. Neil Stearnes says:
    January 24, 2015 at 6:32 pm

    Hi can I get a quote for Home indemnity insurance.

    • mbawa says:
      January 28, 2015 at 9:41 am

      Hi Neil,

      Please give MBA Insurance Services a call on (08) 9476 9898 and they will be able to give you a quote!

      Regards

      Aaron Dark

  3. Vince Ferritto says:
    May 26, 2016 at 7:29 pm

    I would like to apply for home indemnity insurance please.

    What is the process ?

    • mbawa says:
      May 31, 2016 at 8:52 am

      Hi Vince,

      I have passed on your details to our MBA Insurance Services department who will get in contact with you. In case you wish to call MBAIS, their number is (08) 9476 9898.

      Kind Regards,
      Master Builders

  4. Home Insurance Quotes Perth Wa | easy home insurance says:
    September 18, 2016 at 5:13 pm

    […] Home Indemnity Insurance – Master … – Home indemnity insurance covers the homeowner (and subsequent owners) for faulty, unsatisfactory or incomplete building work and loss of deposit should the … […]

  5. Dennis Taylor says:
    October 20, 2016 at 8:45 pm

    Am looking at buying new home in a “lifestyle village” where you buy the home from the developer who contracts a reg’d builder to construct and transport the house to site.Is the developer required by law to supply copy of indemnity insurance to purchaser of such house?