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Changes to the EQC Levy (on House Insurance)
From 1 October 2022, the amount of a house insured by EQC is increasing from $150,000 to $300,000 (+ GST).
Why does an LBP need insurance?
LBP Cover is essential for LBPs that want to avoid the costs of defending a complaint, or if they are alleged to have made mistakes in RoW documents or when supervising non-LBPs.
Tips for how to navigate risky economic conditions
What measures can builders and other trade businesses take to be prepared for financial pressures, given volatile trading conditions in the building industry and the potential coming downturn?
Are you responsible if anything happens to the scaffolding you’ve hired?
Would it surprise you to know that hire contracts for scaffolding commonly require the builder to accept full responsibility for loss, theft or damage to it? It may even require you to insure the scaffolding during the hire period. So, if you haven’t taken cover out...
5 Reasons To Choose Builtin
Here are the top 5 reasons our customers tell us they choose Builtin as their insurance partner for their construction or trade business.
Doing alterations or building a new house? Building materials inflation means you may be underinsured
Contract works (also known as builders risk) insurance insures your building work in case of accidental damage or loss. But in the current market, with prices on some key materials increasing by more than 50% in less than a year are you sufficiently insured?
Have you ordered materials early before a job starts? They may not be covered by the contract works insurance
Contract works insurance commences on the later of the date on the policy or when work starts on site. So, if you have bought materials early they may not be covered if work has yet to begin. With prices rising and supply chains stretched it’s tempting for builders to...
What Are All The Allowances In Contract Works Insurance About?
We sometimes have clients asking to remove the automatic allowances within contract works insurance, since they believe they are not relevant to their job. This is a bad idea! What are these allowances? These are the typical ones: Principal Supplied Materials Some...
Delays With Renovation & Alteration Projects – Make Sure the Homeowner Extends the Contract Works Insurance
With the market under pressure from all angles at the moment there are plenty of projects running over their expected completion date. If you don’t remember to extend the contract works insurance then you risk not having cover if something happens after it expires. In...