Bushfire Season

In Owner Builder Latest News by Underwriter

It is that time of the year, when Owner Builders are building, it is not only theft, storm and water damage need to be considered.

Last Bush Fire season, the phones rang hot with Owner Builders who had decided to “save” the insurance premium and build and when the bushfire was approaching, were desperate to obtain Construction and Public Liability insurance.

Too Late.

Do not fall for the trap of either not taking out Construction and Public Liability insurance or underinsuring.

It is false economy to try and save money by not purchasing Construction Insurance, not only does it offer protection for fire, theft, storm and water damage, vandalism, and Public Liability but also Bushfire.

Underinsuring the cost of work to save money can have a catastrophic effect on an Owner Builders finances as the Insurer will value the cost of works at a Registered Builder rate and if you are underinsured by 50% you will only receive 50% of your claim.


Home Value: $600,000

Insured for: $300,000

Total Claim: Loss 50%

Underinsured: Payout $150,000

Now, anyone building would be doing a disservice to their family’s financial future in not fully insuring their building project. Do it!