If you’re an owner builder in Victoria, or anywhere across Australia, owner builder insurance will be a necessity.

Who is an Owner Builder?

An owner builder is anyone who has undertaken (or is undertaking) a building project on their own property. So, if you’re looking at adding an extension onto the back of your house, building an undercover entertaining area or any other form of permanent structure on your property, you would be classed as an owner builder.

As an owner builder, you’ll be responsible for obtaining the relevant building permits, supervising and undertaking the construction work and making sure all of the work you complete meets your relevant state/council’s building regulations and standards.

Another important factor to consider when undertaking an owner builder project is insurance. You’ll need to invest in a comprehensive insurance policy to ensure you’re financially protected against any risks that are associated with owner builders. These risks can include anything from storm damage to your construction site, any stolen materials, and Public Liability.

What is Owner Builder Insurance?

Owner builder insurance covers a broad suite of products that range from owner builder construction insurance to owner builder warranty insurance and everything in between. To find out the ins and outs of the type of cover you’ll need, contact our team of owner builder insurance brokers today! But, to give you an idea of what to expect, owner builder insurance usually encompasses the following:

Owner Builder Construction and Liability Insurance

Your construction insurance will protect your project regardless of if you’re building a home from scratch or just adding an extension. Most policies will include cover for fires, storms, wind and water damage, and vandalism, as well as theft and public liability.

Most of these policies will also include cover for professional fees; demolition and debris removal costs if a claim is made.

Learn more, here!

Owner Builder Warranty Insurance

Owner builder warranty insurance (also known as Domestic Building Insurance (DBI)) provides essential cover for the purchaser of your property or subsequent purchaser, but not you, as the owner builder.

This means that if you sell your property, the new homeowner will be covered against certain circumstances where the building work is either incomplete or defective and if the owner builder has died, disappeared or become insolvent. Since 1st July 2015 cover is also available in certain circumstances if the owner builder has failed to comply with a Victorian Civil and Administrative Tribunal (VCAT) or court order.

In certain circumstances, the Statutory cover may also include things like alternative accommodation while repairs are being completed, removal and storage for a period of up to 60 days.

Learn more, here!

Optional Extras

A lot of home and contents policies won’t provide insurance protection for your home if you’re undertaking a construction project at home. We can add an optional cover into your owner builder Insurance policy to cover your existing home and contents as well as any renovations or extensions you are doing, to ensure any existing structures or contents are still protected.

Please Note: Owner builder construction and warranty insurance won’t provide protection for any personal injuries to you as the owner builder or your family members. It’s recommended you take out a separate personal accident or group accident insurance policy to ensure you and your family members are covered if anyone gets injured.

FD Beck are specialists in owner builder insurance and can help you find the best possible insurance policy at the best possible price. Contact us today to see what we can do for you!

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Suite 18/296
Bay Road,
Cheltenham, VIC, 3192

Phone 03 9585 6377