Owner Builder Warranty in Victoria

Home Building Warranty scheme is set for major transformation as the Victorian State Government assumes responsibility through the VMIA for Domestic Home Warranty Insurance Scheme:

The Period of Cover for Owner Builder Warranty Insurance is 6 years from Final Inspection or Occupancy Certificate issue date. Owner Builder Warranty Insurance covers Residential/Domestic Building Work. Commercial Works and Works exceeding 3 stories are exempt from obtaining the Warranty Insurance.

The minimum value of works required to obtain Owner Builder Warranty Insurance is $12,000. The amount that can be claimed under a home warranty insurance policy is the value of the contract works to a maximum of $200,000. The purchaser and any subsequent purchaser of the home, not the actual owner builder, can only claim on their Warranty Policy if the owner builder has become insolvent, died or disappeared.

Owner Builder Warranty Insurance only covers defects, which are not identified in the Inspection Report, that are identified within the 6 year Statutory Warranty period. Failure to provide this insurance prior to selling the property can result in fines up to $10,000. If a contract of sale has been entered into without providing the Indemnity Insurance, the purchaser has rights to pull out of the sale prior to completion of the contract.

More than ever before Broker and AR customer responsiveness and service quality are at the forefront of the winning or just quoting for business. More than ever before owner builder specific skills, knowledge and value adding service levels will drive customer satisfaction, security and comfort.

AOBIS is Australia’s exclusive Owner Builder underwriting agency – we know, live and protect Owner Builders across the nation. We don’t compete with our valued intermediaries. We don’t tie our customers up in paper work. We speak in plain English. Our job is to service you, the broker or AR, and allow you to serve your customer with professional ease, swiftly, with detail and confidence.

Need a Home Warranty quote? We require:

Cost of residential Owner Builder works
Date of final inspections or occupancy certificate date
Postcode

3 step process to provide option Owner Builder Warranty service levels.

Home owner should obtain a current Defects Report, prepared by an approved Building Inspector
Ask for copies of Owner Builder building permit,
Complete and ensure Owner Builder signs an Owner Builder Warranty Application form

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Our response time to generate your Warranty Certificate is normally within 120 minutes and of course subject to quality and detail of the application.

AOBIS is dedicated to Brokers and Authorized Representatives through quality of service, knowledge, price and intermediary profit.

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