In South Australia, Building Indemnity Insurance provides coverage for a period of five years from the date of practical completion of the building work.

Practical completion refers to the point at which the building work is finished and ready for occupation or use.

This five-year coverage applies to:

• The original homeowner
• Any future owners of the property within that five-year period

Building Indemnity Insurance protects against situations where the builder has died, disappeared, or become insolvent, and there are issues such as:

• Incomplete building work
• Defective workmanship
• Loss of deposit

This cover is considered a last-resort policy. Claims can only be made if the builder is no longer able to rectify the issue due to death, disappearance, or insolvency.

If you require additional assistance, please contact our team.