| 1. Public Liability Insurance - This will cover injury | | | | consultants or sub contractors if under the |
| to 3rd party at or around the building site | | | | insured's direction they would not be covered |
| 2. Mobile Plant and Equipment Insurance - this will | | | | themselves. |
| ensure that all your mobile plants and building | | | | 6. Directors and Officers Insurance: which deals |
| equipment are protected not just at the time of | | | | with the civil liabilities that directors can incur |
| damage but throughout the policy term. | | | | personally? It protects people in these positions |
| 3. Builder Warranty Insurance - This requires the | | | | against wrongful acts during the period of capacity |
| building contractor is to obtain builder warranty | | | | Anyone deciding to owner build their own home |
| insurance for every project they work on that | | | | should ensure they are correctly covered for any |
| exceeds $12,000. This is mandatory insurance so | | | | accidents that may occur during the process. |
| should not be overlooked. | | | | Owner Builders need to ensure that they have |
| 4. Construction insurance - or contract works | | | | the following cover: |
| insurance/construction all risk insurance offers | | | | 1. Public Liability Insurance: Again this will protect |
| protection for people renovating, building or | | | | owner builders from injury to 3rd party at or |
| extending their home. This cover protects builders | | | | around the building site |
| from most main risks that may be encountered | | | | 2. Personal Accident or volunteer's workers |
| during the construction and building process | | | | insurance - this covers the owner builder from |
| including weather related damages, fire, issues | | | | any injury or damage should they choose to |
| with their workers or workmanship and more. | | | | assist the tradesmen during construction. This |
| 5. Professional Indemnity Insurance: This insurance | | | | cover can also extend to the owner builders |
| covers members of a particular profession that | | | | family/friends (up to 10 volunteers on site for a |
| adhere to a code of practice and have minimum | | | | nominal premium) |
| educational stipulations or requirements. This would | | | | Now you have all the tools you need to go out |
| typically cover any loss from the conduct of | | | | and choose the right cover! |