Home Warranty Inspection Report
What is a home warranty insurance Inspection?
Home Warranty Insurance (also known as Statutory insurance or Home indemnity insurance) is mandatory for residential building work for contracts entered into from 1 May 1997 with a value over $5000, and for residential building work contracted from 2 April 2002 for work with a value over $12,000. Insurance issued to 1 July 2002 covers losses from defective work for up to 7 years.
Home warranty is insurance, which building contractors are required to carry by law to protect homeowners. OWNER BUILDERS and CONTARCTORS are required to provide this insurance to prospective purchasers. The insurance company will appoint a technical consultant/inspector to carry out a site inspection and require you to provide necessary documentation prior to the issue of insurance certificate.
This Inspection report is paid for by the Owner Builder/Contractor. The report would be annexed to all sales contracts.