Statutory Builders' Warranty Insurance
Under legislation, both Licensed Builders and Owner Builders are required to take out domestic warranty insurance.
Builders Home Warranty Insurance is required by law for all residential work over $12,000 (other than developments over three storeys) to protect homeowners from non-completion or defective workmanship should their builder disappear, become insolvent or die. Cover extends for six years from completion date.
For information regarding Builders Home Warranty Insurance in NSW please see the Department of Fair Trading.