Peace of mind with an independently-insured guarantee of your building project

If you’re building a new home you need to know you’re doing so with people you can trust and whose reputation and workmanship are of the highest standard.

Building a new home or making a significant alteration is probably the biggest investment you’ll ever make, and if anything goes wrong it could be the most costly too.  The Building Act and Consumer Guarantees Act both include protection for consumers when undertaking building work. However, if the building company you’ve chosen goes bust, or something happens to your builder, this legislative protection is of no value whatsoever. That’s why it makes sense to reduce your risk by having an independently-insured guarantee in place, just in case something does go wrong.

10 YEAR HOMEFIRST BUILDERS GUARANTEE
A Homefirst Guarantee protects your deposit and ensures that if your chosen builder can’t complete the job we’ll find someone to finish it, and cover the extra costs to do so (subject to the limits of the policy). The guarantee also covers the repair of defects for 10 years.

BENEFITS FOR HOMEOWNERS

PRE-BUILD DEPOSIT PROTECTION

Guarantees to refund your deposit if your builder hasn’t started work – up to a maximum of 20% of the contract price or $500,000, whichever is the lesser.

IN-BUILD COMPLETION GUARANTEE

Guarantees completion of your build at the price you agreed. We’ll arrange for another builder to finish the job and pay any additional completion costs – up to a maximum of 20% of the contract price or $500,000, whichever is the lesser.

 

POST-COMPLETION DEFECTS REPAIR

Guarantees to fix defects for 10 years – to a maximum of $1,000,000.

Homeowners, ask your builder for a Builtin Guarantee and protect your investment for the next 10 years

Contact Us

Builders, become Builtin Accredited today and protect yourself and your clients for the next 10 years

Apply for Accreditation

TYPES OF GUARANTEE

NEW BUILD - FULL CONTRACT

Where you’re building a new home and the contract with your builder is to manage the whole project, including supplying materials and arranging sub-contractors.

Please note, anything included in the works that was supplied outside of the building contract is not covered by the guarantee.

ALTERATIONS & ADDITIONS - FULL CONTRACT

Where you’re getting major work done to your home, such as an extension or major alterations and the contract with your builder is to manage the whole project, including supplying materials and arranging sub-contractors.

Please note, anything included in the works that was supplied outside of the building contract is not covered by the guarantee.

LABOUR-ONLY WORKMANSHIP

Applies where the homeowner acts as project manager and the builder is supplying labour only.

The guarantee covers only the carpentry workmanship of the builder.

HOW MUCH DOES IT COST?
Compared to the cost of losing your deposit, having to stump up extra costs to complete your home or fix defects, the cost of an independently-insured 10 year guarantee is very reasonable.

The guarantee fee is based on the value of your building contract. Ask your builder to include the cost of a Homefirst 10 Year Guarantee in their quote.

HOW TO APPLY
Your builder will need to apply for the Guarantee on your behalf. It must be signed by both the builder and homeowner before being submitted to Builtin New Zealand Limited for approval. Once approved you will be sent a Certificate of Guarantee.

Please note, if you have not received a Certificate of Guarantee before work starts please check with your builder immediately as a guarantee may not yet be in place.

TRANSFERRING A GUARANTEE
Some older guarantees can be transferred once to a subsequent purchaser within 30 days of the settlement date.  Newer guarantees, subject to the specific wording of the policy, can in most cases be transferred multiple times during the term of the policy.

A transfer application form must be completed and the fee paid once a Sale & Purchase Agreement is completed. Applications for transfer should be made no later than 30 days from the settlement date. To request a form please contact us on 0800 BUILTIN, or email guarantee@builtin.co.nz.

YOUR OBLIGATIONS
There are a number of obligations for both the builder and homeowner under the Guarantee including:

  • complying with the terms of your building contract
  • compliance with the building code
  • not to overpay in advance of work done
  • notification of variations
  • notification of claims
  • maintenance of the dwelling or works
  • limiting any damage or loss, as approved by Builtin

UNDERWRITTEN & ADMINISTERED RIGHT HERE IN NEW ZEALAND
The Homefirst Guarantee is backed by CBL Insurance Limited, a licensed New Zealand insurer first established in 1973 and now the country’s largest NZX-listed insurance company. While CBL, with annual revenue of more than $330m, is one of New Zealand’s global success stories, its roots remain firmly planted in the construction industry here at home. Together, Builtin & CBL have unparalleled experience in the New Zealand building sector and a deep understanding of the challenges facing builders today.

With a financial strength rating of A- (Excellent) from A.M. Best, CBL are New Zealand’s largest and oldest specialist bonding, financial risk and surety company. Regulated by the Reserve Bank of New Zealand, CBL have $2.5bn of residential property under guarantee here in New Zealand and more than 5 million homes under warranty worldwide.

Homeowners, ask your builder for a Builtin Guarantee and protect your investment for the next 10 years

Contact Us

Builders, become Builtin Accredited today and protect yourself and your clients for the next 10 years

Apply for Accreditation
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