What is Homes Owners Warranty Insurance Cover & HWI Eligibility?
This is a compulsory insurance cover that must be taken out on any contract between a consumer and a company or trades person that has a value of more than $12,000. You must be issued with an Insurance Certificate BEFORE you pay a deposit on a signed contract. The certificate will show your name, address, value of the work and a description of the work to be carried out. Only once you have received this certificate are you required by law to pay any deposit. If you do not receive this certificate or cannot issue one to you then they would be operating illegally and you will have no protection should the work go wrong or fall apart over the next 7 years. If the home is to be sold within 7 years of the work being carried out, you will need to produce this certificate as part of the sale settlement documents. Eligibility means the Builder must have thre correct credentials with an Insurance Company to be able to offer this compulsory cover. If he is not eligible he is not licensed to carr
