Increased coverage during the building of your new home
We’re providing more reassurance that your new home is covered while it’s being built and making sure that you have better access to insurance if things do go wrong – eliminating the need for complex and costly legal claims against builders who do the wrong thing.
Domestic Building Insurance (DBI) protects consumers, but currently, they can only access this insurance as a last resort under very limited circumstances: when their builder becomes insolvent, disappears or dies.
Cover available includes lost deposits – including instances where a builder has not obtained DBI – incomplete building work, and non-compliant or defective building work.
The new First Resort Domestic Building Warranty for building contracts over $20,000 and under 3 storeys will be administered by the powerful new Building and Plumbing Commission.
It will ensure consumers get access to a ‘first resort’ insurance scheme allowing them to make a claim when a building issue is first identified, so you won’t have to face huge out-of-pocket costs for fixing defects.
When will insurance requirements begin?
The First Resort Domestic Building Warranty will begin from 2026.
For more information visit Building reform(opens in a new window)
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