Being a homeowner comes with its fair share of joys and challenges. Sometimes, unexpected things pop up and that’s where home warranty insurance steps in as a saviour. This insurance covers you if your building contractor happens to pass away, disappear or go bankrupt before completing the job they were hired for.
Back in 1989, the New South Wales government introduced home warranty insurance under the Home Building Act. The idea was to protect homeowners from any losses if their contractors failed to deliver on their contractual obligations.
If you’re getting any major home renovation or construction work done, valued over $20,000, your contractor is legally required to have home warranty insurance in place. They’ll provide you with a certificate proving they’ve got you covered. So, if things go wrong with your contractor, you can make an insurance claim and (hopefully) get reimbursed for any financial losses.
Home Warranty Claims
As a homeowner, you may be able to file a claim under your home warranty insurance policy if any of these situations occur with your building contractor –
They go bankrupt or become insolvent
They unfortunately pass away
They mysteriously disappear without a trace
Their building licence gets suspended because they didn’t follow through on a court/NCAT(The NSW Civil and Administrative Tribunal) order to pay you compensation
If your builder has disappeared and can’t be found, you should reach out to NSW Fair Trading. They will provide you with a letter confirming the builder’s disappearance, which you can use for your Home Building Compensation Fund (HBCF) claim. Once you’ve reported your potential claim, you need to take the necessary steps to attempt to have the original builder complete or fix the work.
Navigate Home Warranty Insurance with the Experts:
Dealing with an incomplete home or shoddy workmanship can be a nightmare, but the team at Dwelcom Pty Ltd is here to guide you through the home warranty insurance process.
Whether your builder went missing in action or left you with a subpar job, our experts will help navigate those complex insurance claims. We are your one-stop warranty insurance specialists who will help you from the start to the end.
Our team offers comprehensive support throughout the claims process. With a focus on precision and industry expertise, we will expertly guide you from initial consultation to final build ensuring seamless outcomes.
Visit our official website to discover more about our services! Our team will guide you through the process for a stress-free experience. Contact us today!