Clarifications
New Home – Construction of a new dwelling
Alteration/Addition – Structural works to an existing dwelling which may involve extending or altering the structure.
Non-Structural Renovation – Internal renovations of a cosmetic nature, not altering the structural part of the dwelling.
Swimming Pool – The owner builder takes the building permit out to construct the swimming pool. Not engaging a registered pool company to take full responsibility of works.
Replacement Cost of Works – What a registered building would replace the dwelling once construction is completed at current day rates.
Excavation Works – The work of digging holes into the ground to reach a foundation for a service or structure.
Boundary works – Construction works on the boundary line between two pieces of property. It divides one property from another. Also referred to as the fence line.
Sub-Floor Stage – A load bearing or concrete floor, which is not seen as it is covered by a finish or other material.
Heritage Listing/Overlay – A dwelling with Historical Significance. The Heritage Overlay may be on the Façade only, or on the entire dwelling.
Semi-Detached – Consists of pairs of houses built side by side as units sharing a party wall and usually in such a way that each house’s layout is a mirror image of its twin. This is also known as a shared or common wall.
Re-stumping – Generally only required on older homes. Replacing stumps by elevating the existing dwelling. This reinforces the dwelling and prevents the dwelling from subsiding.
Tools – Hand Tools owned by the builder for which they are responsible. Limit of $5000. Any Item over $2000 needs to be specifically itemised. Does not cover wear, tear or accidental damage. Limited to theft and malicious damage claims on site only to be used in the course of construction.
Expediting Expenses – The cost of express delivery within Australia, overtime rates of wages, the hire of additional labour and equipment and the costs of purchasing resources necessary to reinstate, repair or replace insured damage to the Construction Works. Costs associated with aircrafts specifically chartered for the purpose are not covered.
Escalation Allowance – If during the construction period there is an increase in the cost of Construction Works (Which exceeds the value stated in the Schedule) then the Sums Insured for the Construction Works as specified in the Schedule will be increased by the same proportion, provided the amount of such increase will not exceed 15% for the specified Construction Works Sums Insured unless expressly agreed in writing by us.
Materials in Storage off site – For locally procured materials intended for use in the Construction Works and stored off site (for a period not exceeding 90 days) and within the Territorial Limits of the policy will, in the event of unforeseen physical loss or damage, indemnify the owner builder up to the amount specified in the Schedule.
Transit Cover – For locally procured materials belonging to the owner builder or in their care, custody or control and intended for use in the Construction Works, only whilst in transit within Australia, will indemnify the owner builder, in the event of unforseen physical loss or damage. Provided always that the event occurs during the construction period, and commences on the completion of loading in an undamaged condition and expires upon completion of the unloading at the Construction Site. The amount payable will not exceed $10,000 or the Sums Insured stated in the Schedule for any one carry, whichever is the greater.
Care Custody & Control – For locally procured materials belonging to the owner builder or in their care, custody or control and intended for use in the Construction Works, in the event of unforeseen physical loss or damage, indemnify the owner builder up to the amount specified in the Schedule.
Existing Structures Contents – Contents owned by the builder for which they are responsible. Limit of $50,000. Does not cover wear, tear or accidental damage. Limited to cover on site only. Excludes curios, jewellery and portable items. Subject to adequate security, site capable of being secured, deadlocks on all doors, window locks on all windows.
Construction Plant & Equipment – Construction Plant and equipment owned and declared by the owner builder and in respect of which a sum insured appears in the schedule. Any Item over $2000 needs to be specifically itemised. Does not cover wear, tear or accidental damage. Limited to theft and malicious damage claims on site only to be used in the course of construction.
Removal of Debris – Demolishing, Cleaning and removal of debris, including dewatering, following any occurrence giving rise to a claim under this policy.
Professional Fees – Architect’s, Engineers’, Surveyors’, and Consultants’ fees necessarily incurred by the owner builder for the replacement or repair of the Construction Works following loss or damage from any cause insured under this policy, but exclusive of any fees incurred for the preparation of a claim or estimation of a loss.