Comments on: Home Warranty Insurance http://ownerbuilderadvice.com/home-warranty-insurance/ Providing Owner Builders with Kit Home Supplies, Systems and Services throughout NSW, QLD and Victoria. Mon, 22 Mar 2010 04:52:26 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: admin http://ownerbuilderadvice.com/home-warranty-insurance/comment-page-1/#comment-55 admin Mon, 22 Mar 2010 04:52:26 +0000 http://ownerbuilderadvice.com/?p=459#comment-55 Hi Graham, thank you for your comments. You are correct on your understanding based on the current Home Warranty Insurance situation as it stands in NSW, and each of the three main points you have made are as we understand it. Yes, it's not a great situation to be in - especially as most trades will not provide you with any warranty at all because its often overlooked and not readily enforced by the regulators. The whole system needs a major overhaul - and it appears the NSW Government is currently looking into this. Indeed, the NSW Government has announced that the current home warranty insurance scheme will be scrapped on the 30th June 2010. What it will look like in the future is anyone's guess. With regards to insurance it's much better to have it, than not. Good luck with your Owner Builder project! Barry Armstrong :) Hi Graham, thank you for your comments.

You are correct on your understanding based on the current Home Warranty Insurance situation as it stands in NSW, and each of the three main points you have made are as we understand it. Yes, it’s not a great situation to be in – especially as most trades will not provide you with any warranty at all because its often overlooked and not readily enforced by the regulators. The whole system needs a major overhaul – and it appears the NSW Government is currently looking into this. Indeed, the NSW Government has announced that the current home warranty insurance scheme will be scrapped on the 30th June 2010. What it will look like in the future is anyone’s guess. With regards to insurance it’s much better to have it, than not.

Good luck with your Owner Builder project!
Barry Armstrong :)

]]> By: Graham http://ownerbuilderadvice.com/home-warranty-insurance/comment-page-1/#comment-54 Graham Mon, 15 Mar 2010 13:23:04 +0000 http://ownerbuilderadvice.com/?p=459#comment-54 My understanding in NSW is that any sub-contractor I use as an owner builder, e.g. a carpenter, will have to issue me with home warranty insurance (HWI)if his/her work is valued over $12,000. So, am I right in understanding that if I choose to sell within 6 years, not only will I have to pay HWI myself but I will also have already paid possibly numerous sub-contractors for it initially if their individual contract values were over $12,000? My understanding in NSW is that any sub-contractor I use as an owner builder, e.g. a carpenter, will have to issue me with home warranty insurance (HWI)if his/her work is valued over $12,000. So, am I right in understanding that if I choose to sell within 6 years, not only will I have to pay HWI myself but I will also have already paid possibly numerous sub-contractors for it initially if their individual contract values were over $12,000?

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