HBCF Insurance provides a safety net for homeowners (and subsequent owners) to compensate for losses due to a builder not being able to honour their building commitments.
The Home Building Compensation Fund (HBCF) is a statutory product, compulsory under relevant building legislation in most states for builders carrying out residential building work.
What does HBCF cover:
HBCF Insurance compensates homeowners for losses arising from defective and incomplete work where the builder or contractor:
- Becomes insolvent
- Dies
- Disappears
- Has their building licence suspended
Under the HBCF scheme, if a residential roofing project exceeds $20,000, it is compulsory for licensed roofing contractors to obtain a home warranty certificate of insurance.
The cover lasts up to 6 years from completion of the roofing project (6 years for major defects and 2 years for all other defects).
AusStyle Roofing has obtained a Certificate of Eligibility for insurance with the Home Building Compensation Fund. For all residential roofing projects over $20,000, AusStyle Roofing will obtain a HBC Insurance certificate on behalf of the homeowner. This certificate will be available to the homeowner prior to commencement of the project.
