F.A.Q

Who is MBA Insurance Services?

MBA Insurance Services (MBAIS) is a General Insurance broker specialising in the building and construction industry. MBAIS is owned by seven Master Builders Associations around Australia and unlike other insurance brokers, ALL profits are injected back into the building and construction industry, your industry!

The shareholding of MBAIS lies with each of the MBAs, providing a tangible relationship to ensure all activities are backed by the greater industry.

Specifically, operational shareholders of MBA Insurance Services are:

Master Builders Association of New South Wales
52 Parramatta Rd Forest Lodge NSW 2037
PH: 02 8586 3555

Master Builders Association of Tasmania
116 Bathurst St Hobart TAS 7000
PH: 03 6210 2000

Master Builders Association of Victoria
332 Albert Street East Melbourne VIC 3002
PH: 03 9411 4555

Master Builders Association of South Australia
47 South Terrace Adelaide SA 5000
PH: 08 8461 8288

Master Builders Association of Western Australia
35-37 Havelock St West Perth WA 6005
PH: 08 9476 9800

Master Builders Association of the Northern Territory
396 Stuart Hwy Winnellie NT 0820
PH: 08 8984 4742

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Do I need to be a member of the MBA to take advantage of MBAIS's insurance broking capabilities?

No, MBAIS will provide it's services to anyone in the building and construction industry.

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How do I appoint MBAIS as our broker?

Simply complete the Letter of Appointment document, which can be found under Forms on this website, and return to us.

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What areas of insurance does MBAIS specialise in?

We specialise in all areas of Commercial Insurance and have dedicated facilities and/or systems for the core insurance products to the buildings & construction industry;

  • Construction Works
  • Defects Liability
  • Trades Insurance
  • Builders/Home Warranty
  • Structural Defects
  • Surety Bonds

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What is Construction Works Insurance?

Otherwise known as Contract Works & Liability Insurance or Construction Insurance, this is a policy to protect parties involved with a Contract, generally between a Head Contractor and a Principal or Owner. The insurance will generally cover all parties to the contract including the principal and any sub-contractors.

Construction Works policy can be taken either on a single job specific basis or can be taken out annually based on a declaration of your contracts within an agreed insurance period. There are two sections within the policy;

• Section 1 - Material Damage: Providing fire and perils coverage for all property within the contract, often including tools, plant & equipment, materials in storage and materials in transit.

• Section 2 – Public & Products Liability: Providing cover for third party property damage or third party bodily injury as a result of the insured's negligence. 

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What is Defects Liability Insurance?

The Insurance cover provided is not a product guarantee or defects rectification Policy, it is quite specific in the cover it provides, and as an example, it generally provides two covers.

• Cover 1: is for rectification costs, but only if the defect has been caused by an insurable event, actually happening during the construction period, and manifesting during this defects period.

• Cover 2: is for any damage caused whilst rectifying the defect, which falls within the umbrella of Cover 1 above.

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What Is Trades Insurance?

Trades Insurance is vital for any tradesman, regardless of occupation, to ensure you are appropriately protected in the event of unforeseen incidents.

Trades Insurance is an insurance package to cover most trade specific occupations for Public Liability, Tools, and other property related insurances. The policy allows you to streamline your insurances and obtain all your general insurances under the one policy.

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What is Home Warranty Insurance?

Home Warranty Insurance (also referred to as Domestice Building Insurance, Home Indemnity Insurance or Builders Warranty Insurance) protects consumers from financial loss caused by a builder's failure to rectify or compensate for defective or incomplete residential building work.

Home Warranty Insurance is a statutory product, compulsory under relevant building legislation in most States for builders carrying out residential building work valued at over over $12,000 in SA & the ACT, over $16,000 in Victoria and over $20,000 in NSW & WA. Cover only applies when a builder dies, disappears or becomes insolvent.

Builders are responsible for taking out Home Warranty Insurance at the time of entering into a building contract with a homeowner.

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What is Commercial Builders Indemnity (Structural Defects) Insurance?

Commercial Builders Structural Defects Insurance (CBI) was initiated in 2005 with the implementation of proportionate liability laws. It provides the commercial builder cover for legal liability for claims made during the period of insurance in respect of defects in structural work.

The policy is issued on an annual basis and provides indemnity up to twice the annual turnover of a builder, subject to a maximum of $10,000,000 any one claim, and a minimum of $1,000,000. The policy is issued on a 'Claims Made' basis, meaning that the policy only covers claims first made against the insured during the policy period and notified to the insurers during that policy period. 

Under the policy the insured is required to pay the first 2% of the value of the contract or $10,000 whichever is the greater, each and every claim.
The premium paid is based on the structural work conducted by the builder and this is defined as:

1. all internal and/or external load bearing structures essential to the stability or strength of the building or any part thereof, including, but not limited to foundations, floors, walls, roofs, columns and beans; and 

2. all other works forming part of the external walls and roofing, but excluding weatherproofing works not designed to add strength or support to the building, moveable elements of external windows, doors and skylights. 

Likewise a structural defect is defined as any defect in the structural works which affects the stability or strength of the building or any part thereof and is attributable to defective design, defective or faulty workmanship and/or defective materials and which;

1. results in a regulatory authority closing or prohibiting the use of the building or any part thereof; or

2. does or would prevent the continued practical use of the building or any part thereof; or

3. results in destruction of the building or physical damage to the building or any part thereof; or

4. results in threat of imminent collapse that may reasonably be considered to cause destruction of the building or physical damage to the building or any part thereof. 

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