Building Indemnity Insurance

Webber Insurance is a QBE Approved distributor for Building Indemnity Insurance.

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Building Indemnity Insurance

It’s your building business, protect it.

Building Indemnity Insurance is a statutory required insurance product which is required in most states for building work contractors carrying out domestic building contracts.

This product is also known as Builders Warranty Insurance, Home Warranty Insurance, Domestic Building Insurance or DBI and has varying Insurance requirements state to state.

In South Australia, Webber Insurance is a QBE approved distributor for Builders Indemnity Insurance. Any domestic building work over $12,000 that requires council approval will need Building Indemnity Insurance.

Further details from the SA Government can be found here.

Who can take out Builders Warranty Insurance?

Building Indemnity Insurance can only be taken out only by a Building Work Contractor that holds a Builders License.

This insurance cover cannot be taken out if you are undertaking the works yourself, even if you are building a house, performing renovations or building an extension.

What does Building Indemnity Insurance cover?

Building Indemnity Insurance protects the home owner (and subsequent home owners) from:

  • Non-completion of the Building Contract, including loss of deposit
  • Incomplete or defective building work if the builders becomes insolvent, dies or disappears on the job; and
  • Failure of the builder to correct faults which are the builders responsibility by law, such as poor workmanship and the use of inappropriate or unsuitable materials.

Claims can usually only be made on this policy up to 5 years from the practical completion of the work.

Recent changes have increased the policy indemnity limit from $80,000 to $150,000 for policies issues on or after 1 July 2017.

How do I apply for Building Indemnity Insurance?

To apply for Building Indemnity Insurance, you need to complete the Builders Warranty Eligibility Application. Further to the application, QBE requires:

  • Statement of Personal Assets & Liabilities
  • Copy of Builders License (if available)
  • Rates notices for owned property
  • Most recent Tax Returns or Accountant prepared Financials

Once this has been sent off to QBE, please allow a minimum of 14 days for a response.

What to do if your Broker can no longer assist with Building Indemnity Insurance?

Webber Insurance is able to assist either with you as the client directly or via your existing broker through a wholesaling arrangement.

To allow us to act on your behalf, you will need to sign and return a copy of the Letter of Appointment to [email protected]

If you are a broker who needs assistance with wholesaling this product, please email us to set up an agency agreement.

More Information

For more information regarding Building Indemnity Insurance, please contact us on 1300 932 237 or email [email protected].

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