What is Building Indemnity Insurance

Building Indemnity Insurance, also known as Builder’s Warranty Insurance, protects the homeowner (not the builder) if: Non-completion of the Building Contract, including loss of deposit if the builder becomes insolvent, dies, or disappears. Incomplete or defective work if the builder becomes insolvent, dies, or disappears. Failure of the builder to correct faults, such as poor workmanship and unsuitable materials, but only if you cannot recover compensation from the builder or have the builder rectify the loss or damage because of the builder’s insolvency, death or disappearance. This cover ensures that the homeowner can recover some of the costs to complete unfinished work or rectify serious defects, even if the builder is no longer available to meet their obligations.  It is a mandatory requirement for most residential building projects involving a licensed builder or contractor.  Webber Insurance is an approved provider of Building Indemnity Insurance in South Australia. Please refer to our Building Indemnity page for details on how we can assist you.