Builder / Project Insurances

Hi all,

Getting closer to signing of contract and need to check out Builder's Insurance.

Home Warranty Insurance
Product & Public Liability
Construction Works & Public Liability Insurance

Which of the above does the builder need to hold?

Are they mandatory?

What sort of information is supposed to be provided? Policy Numbers? Insurance period? Amounts covered? Whose name is the Policy held under?

Other ?? I will keep you updated.

Thanks,

Anne

 

Any registered builder will have this as part of their process. They supply you with certificates covering this once they have obtained the building permits (which they don't get until you've signed the contract and paid a 5% deposit).

Your lender will require a copy of these certificates before they start making payments. If the certificates aren't appropriate, they'll let you know (I've never see that happen).

 

If a builder is insolvent or passes away ,are you covered for the full amount paid ,how does building insurance work where can i get more information please