Changes to Home Warranty NSW - effective 4th August, 2015 29/05/2015

On the 4th August 2015, the Home Building Compensation Fund (HBCF) framework will change, placing more onus on builders when finalising contracts.

New Eligibility Limits

The Rolling Annual eligibility limit that currently sees projects ‘rolling off’ 12 months after they are registered for Home Warranty, will be replaced with eligibility now based on Open Job and Contract Value limits. New eligibility limits are being issued to each builder  

The new limits will be based on the number of jobs and total value of projects under construction. During this changeover, all of your existing jobs that will not be completed by 4 August 2015, will remain ‘open’ within your Facility, until you supply us with a project completion certificate.

We will be supplying each of our builders with more details in relation to their new individual limit within the next month.

New Project Completion Process

 From 4 August 2015, you will be required to provide a short declaration of practical completion for each project registered, confirming the following as a minimum:

  • Project has reached practical completion
  • Updated property address
  • Home owners details

This can be done simply by emailing our office with the declaration form. Once you have made your declaration, the job and contract value will be added back to your open eligibility limit. At the same time, the home owner will be advised that the HBCF policy has commenced.

Get Expert Advice         

HBCF are now restricting the number of insurance brokers who can distribute this product on their behalf, given the complex nature and specialised knowledge required to manage your ongoing Facility. If your Eligibility Facility  isn’t currently held with MBAIS, you should be contacting our office to arrange for this change.

Further information and updates will be made available through our website.

If you would like to discuss any of these changes, please contact us on (02) 8586 3555 (Sydney) or (02) 4953 9400 (Newcastle). 

 

Please note that you are about to leave our website and enter the MBAIS quoting system.

Please note that you are about to leave this website and enter a site operated by CGU. Any reference to 'us', 'we' and 'our' is a reference to CGU.

Please note that you are about to leave this website and enter a site operated by QBE. Any reference to 'us', 'we' and 'our' is a reference to QBE.

When you proceed with the TAL online quote & buy facility we will not be acting on your behalf as an insurance adviser normally would.

We will in fact be acting as an agent of the insurer. Should you prefer to utilise the full services of an insurance adviser please contact our office directly.

Please note that you are about to leave this website and enter a site operated by Go Protect. Any reference to 'us', 'we' and 'our' is a reference to Go Protect.

You will be redirected in 5 seconds.

Please note that you are about to leave this website and enter a site operated by Wheeler Insurances. Any reference to 'us', 'we' and 'our' is a reference to Wheeler Insurances.

×