Home Warranty Insurance in Victoria
Home Warranty Insurance, or Domestic Building Insurance (DBI) as it is referred to in Victoria, covers the homeowner (and subsequent owners) where the contracted building work is incomplete or defective and the builder has either died, disappeared, become insolvent during construction or has failed to respond to a rectification order within 30 days of it being issued. The cover lasts up to 6 years from completion of the domestic building work or termination of the domestic building contract (6 years for structural defects and 2 years for non-structural).
From 1 July 2017, registered Victorian builders seeking to purchase insurance from the government backed insurer VMIA (Victorian Managed Insurance Authority) must select a licensed Distributor to manage their DBI needs.
MBA Insurance Services (MBAIS) is one of only six brokers to have been granted a DBI distribution license, allowing you to deal with us directly or via your broker.
Visit our designated DBI website domesticbuildinginsurance.com.au for more information.
MBAIS has many years experience in dealing with the underwriters of Domestic Building Insurance in Victoria and has a designated team that are well placed to assist both new and existing builders through the eligibility and review processes.
Providing protection for your valued customers.
When is Home Warranty Insurance compulsory?
Home Warranty Insurance is a statutory product, compulsory under relevant building legislation in most states for builders carrying out residential building work.
Insurance must be purchased when the value of the work being done is:
Cover only applies when a builder dies, disappears or becomes insolvent and is provided for outcomes relative to a specific dispute resolution process.