FD Beck Insurance Brokers

Owner Builder Insurance: Protection Against Builder’s Risk

Get the peace of mind you deserve with the right insurance package

Owner Builder Insurance

An owner builder is anyone who decides to build or do construction work on their own– without the help or hiring of a registered builder. With this comes the responsibility for all subcontractors and the risks that come with construction projects. To be safe from liability and legal responsibilities, one must acquire an owner builder insurance. This covers any accident or legal liabilities that might happen.

What Insurance Packages Owner Builders Need

There are many types of business insurance to choose from. As a business owner, you need to make sure you cover all your needs. This is why it’s important to choose a reputable insurance owner. Additionally, you should also determine the replacement value for each coverage. Here are important insurances you must have:

Construction Insurance

this type of insurance is for risks involved during the construction phase which usually cannot be foreseen like theft, vandalism, fire, storm, water damage, removal of debris, and other professional fees.

Public Liability Insurance

Public liability insurance protects you against property damage and third party injury if somebody gets injured within your property or on the construction site.

Workers Compensation Insurance

if you have employees, the law requires you to get workers compensation insurance. This is for the benefit of your employees since it covers work-related accidents and injuries.

Commercial Property Insurance

This insurance is for people that own business assets in Australia. Commercial property insurance covers fire and defined events, business interruption, glass breakage etc. Some commercial policies can also be extended to include car insurance.

Business Interruption Insurance

The halt in work operations caused by calamities can affect profits. These cases may reach short to extended periods of time depending on the situation. A business interruption insurance policy covers your company when you cannot operate.

When Is Owner Builders Insurance Necessary?​

Owner builder insurance is often a requirement by some states to allow a person to build on their property. The inclusions or the coverages of an owner-builder policy is not only for the benefit of someone who plans a DIY building or construction project. Here are other instances or examples of professionals who may need this type of insurance:

Why do Owner Builders Need this Insurance?

The risks involved in contract works, building your own home, are big. Which is why the coverage should also be enough to cover. Here are some reasons why you need owner builder coverage:


Will owner builders cover voluntary workers?

As long as it is clear in the insurance product disclosure statement that you will be hiring or asking help from volunteers.

Are my tools or any of my building materials insured under this policy?

An owner builder insurance will cover all the materials and equipment involved in the construction works.

Contact Us

Build a risk-free future, get insured today with FDbeck. We have a wide range of business insurance products to offer clients in Australia. Call us today to get general advice about the business insurance cover you need that were not tackled in this article.