Owner Builder Warranty Insurance
Owner Builder Home Warranty Insurance is a mandatory Insurance policy that Owner Builders selling their home are required to provide to the purchaser.
The insurance certificate must be obtained prior to entering into a contract of sale, for any Owner Builder works over $16,000.
It protects purchasers in the event the Owner Builder dies, disappears or becomes insolvent and is unable to fix defective work during the statutory period.
The statutory period of insurance is 6 years for structural defects, from the date of Certificate of Occupancy or Certificate of Final Inspection, or in Western Australia 7 years from the date of Building Permit approval.
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This should be the name the warranty certificate would be issued in.
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