MGA is pleased to make our Simple Warranty covers available to painters and decorators along with online pre-eligibility.

What is Home Warranty Insurance?

Home Warranty Insurance is designed to cover a homeowner against the death, disappearance insolvency of a contractor for building/renovation works carried out on their residential property. If the contractor’s death, disappearance or insolvency happens before the works are completed, the insurance goes towards the extra cost of engaging another contractor to complete it. If there is a fault in the completed work that needs to be rectified during the warranty period, the insurance covers the cost of rectification by another contractor if the original contractor is no longer able.

Please note that this page seeks to provide only a very general explanation of Home Warranty Insurance. Home Warranty Insurance is governed by legislation and regulation and you should refer any specific questions to our office. More information can be found at www.warrantyinsurance.com.au

When do I need Home Warranty Insurance?

If you answer “Yes” to all three of the questions below, Home Warranty Insurance is necessary.

1. Is the total contract value for your job over $12,000 (including PC’s)?
2. Is the building used for residential purposes?
3. Are you contracted directly to the property owner (this includes an owner-builder or a strata)?

How long does it last for?

The period of cover for loss arising from a structural defect is 6 years after the completion of the work, or, in the case of loss arising otherwise than from any such structural defect, 2 years from the completion of the work. Please refer to your job certificate or contact our office should you have any questions

How can I apply for it?

All applicants are required to undergo a once-a-year-only process to be granted eligibility for Home Warranty Insurance before applying for a job-specific Warranty Insurance policy.

MGA Insurance Brokers has made the eligibility process simple, by arranging that in most cases you will not be required to submit any financial statements. Additionally, there is no need to provide Bank Guarantees or Deeds of Indemnity.

Visit our Warranty Insurance Website for more information - www.warrantyinsurance.com.au