Who needs an owner builder warranty?
Owner Builders are defined as someone who undertakes building, renovation or construction works or the supervision of required subcontractors on a property they own:
- Which exceeds the minimum value required for contracted building works
- Requires a building / planning permit
Why is it Important?
An Owner Builder Warranty provides purchasers with peace of mind and gives Insurers the information required to issue a policy for the benefit of the purchaser. In states like NSW, VIC and WA this is mandatory, while in other states it is advisable but not mandatory.