Builders Insurance

Our builders public liability insurance covers legal fees and compensation if YOUR business activities cause harm to someone or damage to someone else’s property. This important insurance is for builders of all sizes.

For example, if a client gets hurt at YOUR work site or YOUR work damages a nearby property, public liability insurance will cover the costs and legal fees. It protects YOU both at work sites and YOUR business location.

We can adjust YOUR coverage to fit YOUR needs, offering different options. We’ll help YOU choose the right level of protection for YOUR business, making sure you’re well covered without extra costs.

The price of builders’ insurance in Melbourne changes depending on things like business size, project types, past claims, and the level of coverage. We try to find good rates that offer full protection.

The cost can be very different depending on the type and size of YOUR construction business. Bigger commercial builders or those working on high-risk projects pay differently than smaller residential builders.

Things that affect YOUR cost include:

• Yearly income
• Number of employees
• Types of projects
• Value of tools and equipment
• The amount of coverage YOU choose

For an exact, personalised quote, talk to our insurance experts, who will look at YOUR specific needs and risk level.

Yes, if you’re an owner-builder in Melbourne, YOU need special insurance. We can guide YOU through what YOU need. For home-building projects worth more than a certain amount, YOU must have owner-builder warranty insurance before selling the property.

This insurance helps protect future owners from faulty workmanship, covering major problems for six years and minor issues for two years after the work is done.

At BIIMA, we suggest thinking about extra insurance like public liability, construction, and personal accident insurance. These types of insurance are important for protecting YOU during YOUR building project, helping to cover things like injuries to visitors or damage to the building while it’s being built.

Builders’ warranty insurance and home indemnity insurance are basically the same thing, but the name can change depending on the state. It’s usually called domestic building insurance (DBI).

This insurance helps homeowners if their builder can’t finish the work or fix problems because the builder is bankrupt, has passed away, or can’t be found. It’s a backup plan for consumers, but it is only useful if the builder can’t fulfil their responsibilities.

Important points we highlight:

• Required for domestic building work over a certain cost in Victoria
• The builder buys the policy, which benefits the homeowner
• Covers structural issues for six years, non-structural for two years
• It doesn’t cover problems if the builder is still working

We’ll make sure YOU understand and follow these rules.