Protection For Homeowners
Builders Home Warranty or Residential Construction Warranty is required by law for all residential work over $16,000 (other than developments over three stories) to protect homeowners from financial loss from non-completion or defective workmanship should their builder disappear, become insolvent or die. Cover extends for six years from completion date.
Warranty insurance can be provided to the following businesses:
- Home Builders and Renovators
- Pool Builders
- Cabinet Makers
- Painters and Decorators
- Owner Builders
- And any other project where warranty is required.
Generally, applications can be processed without the need for onerous requirements such as bank guarantees and restructure of business, although these will of course be required at times.
Your Building Insurance Experts
McKenzie Ross employs experienced builders warranty practitioners who will provide you with a comprehensive review of your insurance exposure and provide a tailored insurance solution to suit your company’s needs. We recognize the difficulties that builders may encounter when seeking insurance and obtaining eligibility. McKenzie Ross tailors requirements to suit the builder in a number of innovative ways.
Key Benefits Of Using McKenzie Ross
High level assurance that risks are transferred where intended.
A greater understanding of the risks retained in your organisation, some of which may require alternative management methods.
A formal process of risk identification that demonstrates good corporate governance to stakeholders.
Linkage between insurance and your organisation’s overall process for risk management.
Enhanced ability for ‘insurable’ risk to be transferred to insurance markets in the best possible light by demonstrating sophistication in identification and analysis.