Benefits of Owner Builder Insurances in Australia

As an owner builder, you are responsible for the managing construction or renovation of your home. You will have the pleasure of successfully renovating the home in the way you like. You will also have to face a set of risks and responsibilities. But you can avoid risks by buying a comprehensive owner builder insurance.

As the owner builder in Australia, you are the primary contractor, responsible for appropriate cover. So it is important for you to choose the insurance of construction, which takes care of employees and possible site damages. Select the owner builder insurance in Australia which provides the best protection you need during the construction process. The insurance must be taken before the construction begins.

There are many benefits of owner builder insurance

• Without the site insurance, you may lose the home and may have to pay mortgage too.

• The insurance can prevent you from the effects of many potential liabilities, risks and the exposures when managing building work at the construction site. 

• Prevention includes the damage to on-site accidents, construction materials delivered, as well as the value of the progressive work completed. 

• Insurance companies give proper protection for you in case the workers get injured, killed or die due to any mishaps or the accident on your site. Insurance companies will provide adequate protection and provide the peace of mind, the income protection, and safety, keep you secure, and provide the real benefits.

• Owner Builder Personal Accident and Volunteer Workers provide protection for you and other unpaid workers in case these workers injure themselves and are unable to attend the paid employment. By organizing this type of insurance, you are serving to compensate family, friends and you.

• Construction insurance protects the owner builder during the building process, including theft, fire, damage, water and wind damage.

Building Regulations for Owner Builders in Australia

An owner-builder is one who takes responsibility for home building work carried out on their own land.He obtains building permits, supervises the building work, and makes sure the work meets building regulations and standards.

As an owner builder, you are responsible for:

• Getting relevant permits from your local council

• Getting a Certificate of Consent from the VBA before starthome building works over $16,000

• Ensuring that the work meets building regulations, standards and other laws

• Arranging for building inspections as necessary by law at specific stages of the building work

• Obtaining domestic building insurance if you sell within six years of obtaining the Certificate of Final Inspection or Occupancy Permit

• Ensuring that the financial, taxation and insurance requirements of the building work are met and fully comply with all laws

Owner builders are prescribed by law to meet the same legislative requirements relating to building work as certifiedor licensed builders. These requirements are contained in the Development Act 1993 and Development Regulations 2008

Under the Act, owner builders proposing to undertake building construction must:

• Obtain a Development Approval

• Lodge all copies of certificates of indemnity insurance for building or construction work to be undertaken by a certified building work contractor with the council before commencing that stage of building work.

• Advise the council of the name and contact information of the person who will be supervising the building work and construction.

• Undertake the building work in accordance with the approved documents 

• Submit a signed Statement of Compliance   (Schedule 19A) to the relevant authority on completion of the building work.

Australian Building Codes Board (ABCB) is a joint initiative of all levels of Australian Government. The ABCB is responsible for:

• Managing and developing a nationally uniform way to technical building requirements, embodied in the Building Code of Australia (BCA)

• Developing a simpler and more efficient building regulatory system