Builders and Contractors

HBCF insurance

HBCF insurance is required to be obtained by all licensed contractors for most residential construction projects over $20,000, with some types of construction exempted, E.g. construction of new high-rise buildings.
 
The HBCF provides a safety net for homeowners in New South Wales who have contracted residential building work and their building contractor has been unable to honour commitments under the building contract due to insolvency, death or disappearance.  
 
The safety net is also provided where the building contractors’s licence has been suspended for failing to comply with a Tribunal or Court order to pay compensation to the homeowner.
 
Aside from providing compensation, the HBCF assesses building contractors' eligibility to obtain cover. Eligibility is the term used to describe the entitlement that a builder has to apply for a Certificate of Insurance for home building project, and the conditions under which the Certificate of Insurance may be granted.
 
A Certificate of Eligibility means that a builder has been granted the entitlement to apply for job-specific / project-specific Certificate of Insurance within the approved number and value of projects under construction. Builder enquiries and applications for insurance are to be made through an approved Distributor/Broker.
 
To view Approved Distributors list click here.  For builder eligibility information, click here.