Undertaking a home renovation or new construction project can be thrilling, but it also involves significant risks. As an owner-builder, you are liable for any unexpected issues that may arise during the build, similar to a licensed builder.
Owner-builder insurance is designed to shield your investment from common risks, such as adverse weather conditions, water damage, vandalism, theft, and public liability. Clearlake Insurance streamlines the process of securing owner-builder insurance, providing you with dependable and affordable coverage, allowing you to focus on making your project a reality.
Owner Builder Contract Works & Public Liability
Also known as Owner Builder Construction and Public Liability Insurance, this product provides cover for potential risks owner builders face when carrying out a new build or renovation project.
Owner Builder Insurance cover typically comprises of two key sections:
Material Damage
Material Damage cover protects an Owner Builder for losses caused by hazards such as fire, storm, impact, wind, and water damage, vandalism, and theft (including materials left outdoors).
Public Liability
Public Liability Insurance provides protection against third party claims resulting from personal injuries and/or damage to property arising from your building project. Public Liability Insurance can cover both your legal costs to defend a claim and settlement costs in the event you are found legally liable.
Other Owner Builder Insurances
In addition to Owner Builder Contract Works and Public Liability Insurance, our team are fully licensed insurance brokers and can assist with you with any other insurance products you may require including:
Personal Accident (Income Protection) Insurance
Personal Accident Insurance provides income protection for workplace related disability caused by accidental injury or sickness. A typical policy can provide replacement income, homemaker benefits, loss of life benefits and rehabilitation/return to work assistance.
Voluntary Workers Insurance
If you are physically working on your project site, and/or having friends or family help with any of the work, you'll also need Voluntary Workers cover. A typical policy can provide financial compensation and cover for expenses in the event of accidental death or disablement of someone providing volunteer work.
Workers Compensation Insurance
Workers Compensation Insurance can also be an important consideration. It is administered differently between states however a typical policy can provide financial assistance to anyone you engage for your construction work in the event they sustain an injury or become ill from their work.
Owner Builder Home Warranty Insurance
Owner Builder Home Warranty Insurance benefits the subsequent purchaser of your property, not you as the Owner Builder. The policy provides cover in the event that you as the Owner Builder die, disappear or become insolvent, and the building works are incomplete or defective.
Please note: Voluntary Workers Insurance is also quoted as an option when you request an Owner Builder Contract Works and Public Liability Insurance quote.
General Advice Warning
The information provided on this website has been prepared for general information purposes only and not as specific advice to any particular person. Any advice on this website is General Advice and does not take into account any person’s individual investment objectives, financial situation or needs. Before making a decision based on this advice you should consider whether it is appropriate to your particular circumstances.
Where the General Advice relates to the acquisition or possible acquisition of a financial product, you should obtain a disclosure document, including the Product Disclosure Statement (PDS) and, where available, Target Market Determination (TMD) relating to the product and consider the content before making any decision about whether to acquire the product.
Authorised by Clearlake Insurance Brokers ABN 16 651 113 861 AFSL 559829
How Clearlake Insurance can help
At Clearlake Insurance, we recognise the effort required to complete a successful owner-builder project, which is why we are equally dedicated to providing robust protection for it.
For more information or to arrange cover, please contact us on 02 9037 8970 or simply fill out the form below and one of our insurance brokers will get in touch shortly.
