Home And Garden Articles

Home Warranty & Other Insurance In Home Building

Home Warranty Insurance

Whether as an owner-builder or a contractor under a home building contract, home warranty insurance from an approved insurer is required for all residential building work exceeding $12,000.00.

If an owner-builder decides to sell the property within 6 years after completing the work, then the owner-builder must attach a copy of the home warranty insurance certificate to the contract of sale.

Under the home warranty insurance, the home owner can make a claim in respect of any:

- structural defects within 6 years after completion of the work and notification must be given to the insurer within 6 months of becoming aware of the defect;

- non-structural defects within 2 years after completion of the work;

- incomplete work within 12 months after the failure to commence the work or cessation of the work.

Obtaining home warranty insurance may also be the local authority's condition of approval of a development application.

An applicant for a contractor licence is required to provide evidence of current home warranty insurance or a current certificate of eligibility to obtain home warranty insurance from an approved insurer.

Note that developers of high-rise apartment buildings exceeding 3 stories are not required to arrange home warranty insurance for the building work nor are they required to attach a copy of the certificate to the sale contract.

A home owner can only make a claim under the home warranty insurance if the builder becomes bankrupt or insolvent, dies or cannot be located. If the insurer does not make a decision within 90 days from the date of lodgment of the claim, then the insurer is deemed to have accepted the liability. If the home owner is not happy with the insurer's decision, then the home owner must appeal to the Consumer, Trader and Tenancy Tribunal within 45 days of the decision.

Construction Risk or Builders All Risk Insurance (for owner-builder) Contract Works Insurance (for builder or tradesperson)

This covers the insured for loss or damage to materials and work. If insurance is not in place, the person risks the inconvenience, time delays and disputes where materials are damaged or stolen. When insuring, costs of other things such as costs of tools, equipment and cleaning up should be taken into account.

Workers Compensation Insurance

This covers workers or employees injured at the building site or in the normal course of employment.

Usually, individual builders who do not have a company or business may not carry workers compensation insurance. The land owner may become liable for injuries suffered by a worker at the building site pursuant to Workers Compensation Act 1987 (NSW).

Public Liability Insurance

This covers the insured in respect of injury caused to non-employees such as family members, or members of public at the building site. The land owner is otherwise liable if such person suffers injury.

Professional Indemnity Insurance (for building consultants)

Building consultants (holders of building consultancy licence) involved in preparing pre-purchase reports should consider having professional indemnity insurance in case of a claim in negligence.

Other persons involved in building advising, designing, contract administration and project management should ensure that they have professional indemnity insurance.

Manoj Narsey is a solicitor employed at LAC Lawyers Sydney http://www.laclawyers.com.au. He has nearly 12 years experience as a lawyer.

Other Article Sites

findabook.com  moneycd.info  a-mortgage.info   about-lemon-laws.info  aboutstudentloans.info
all-about-publishing.info  auctions-articles.info  bestcollege-university.com  bestispconnection.com
biblefolder.com  blogger-website.com  books-used.info  brokers-guide.info  buywindows.info  cable-dsl.info
career-miner.com  carpel-tunnel.info  cashinaflash.info  cashloanreviews.info  casinobell.com  chat-house.info
clearmycredit.info  collegeloantips.info  crones.info  depression-articles.info   dirnic.net  dishguides.info
divers-below.com  expodog.info   financewizz.com  fire-insurance.info  getgood.info  handleit.net   it-idea.info
health-supplies.info  hosting-right.com  insidealert.com  insurance-facts.info  jobs-employment.info
justgood.info  lookgold.net   lowcost-travel.info  money-source.info  myhostzone.info  numisblog.com
peoplesearchfinder.info  pr-articles.info  realeas.com   refinancing-guides.info  spyware-remove.info
telelot.info  the-law.info   toppaid.info  travel-deals.info  travelcorrect.com  wedding-guide-site.com
your-blog.info  your-credit.info

MORE ARTICLES:

Fall Garden Chores for Spring Flowering Bulbs
As the school busses begin to rumble down the road again we are reminded that the gardening season is drawing to a close. For the gardener with an eye toward next spring, however, the season still promises plenty to be done in preparation of a showy spring to come.

Enhance Your Flower Garden With Garden Edging
So, you've got your flower garden set up You've planted the flowers, some perennials here, a few annuals there

Town & Country Conservatories Designs Custom English Skylight for Rockefeller Center's Flower & Garden Show
EnglishSkylights.com, a division of Town & Country Conservatories designs and builds a custom conservatory-inspired skylight for Rockefeller Center's annual Flower & Garden Show.

Flowers That Beautify Your Home and Garden
To help gardeners choose flowers, various systems for rating hardiness have been developed. A plant is considered hardy in a region if it can grow and thrive there without requiring special protective measures such as insulating with straw mulch.

Brighten Up The Garden With PVC Box Deck Flower Railings
Box deck flower railings can really brighten up any garden. The flowers create a homely, warm feel as well as adding a touch of elegance. Many people wonder how to improve the look of their deck and a flower box is by far one of the best ways to do it.

Wild Flower Garden - Yours to Design and Plan
To design a wild flower garden, you do not need to be a specialist or an artist, you just need to be observant and let your creative juices flow. Look around you, what is unique about your surroundings? Do you wish to enhance or compliment these things.

How to Choose the Right Bulbs for Your Spring Flower Garden
Choosing the right bulbs involves more than just selecting colors and cultivars. Timing, bulb size, and most importantly, bulb health are equally significant factors in designing your spring garden.

Add Rich Color To Your Garden With Blue Perennial Flowers
Blue flowers are some of the most striking plants around and can add a rich splash of color to any garden. Plant them in a cluster of all blue or mix them in with other flowers for a rainbow of color.

New Ways to Use Flowering Clematis in the Home Garden
As a lifetime horticulture professional, Vicki Smith (www.LGYP.com) has exciting news and guidance for using Clematis in today's low maintenance landscapes.

The Flower Garden in August
Our flower garden in August can be brimming with activities we can do at this time of year, as we can for most of the year. We have some flower gardening tips to give you and some experiments to try.

Wild Flower Garden - Make Amends...Your Plants Will Love It
A wild flower garden, just like any garden you wish to plant, requires good quality soil that will meet the needs of the plants you put in it. That means that your garden soil may need some amendment.

5 Most Popular Flowers for Your Garden
When planting a garden there are many questions which you must ask yourself before you begin. Where are you going to plant it, do you have the garden equipment to do so and how big do you want your garden to be? When do flowers bloom and what are their heights? These are all very important questions, however they mean very little if you have not yet decided which types of flowers you want to plant.

Flower Gardening
Flower gardening is becoming more and more popular every day. Flowers can brighten everyone?s day, they smell nice, and are a great hobby. Flower gardening is simple, inexpensive, and loads of fun. Flower gardening can be done for yard decoration, simply as a hobby, or even professionally.

Converting a Weed Garden to a Manageable Flower Garden
Recently I must have had sucker tattooed on my forehead because just when I thought my summer gardening season was winding down into a nice relaxed not hard labor kind of fall a friend baited me into a conversation about their landscaping and the outcome was I ended up helping them redesign a garden