Builder and Home Owner Frequently Asked Questions
Will this cost me more money?
There are no costs to register with SecureBuild. The premiums we charge may be (in some cases) higher than iCare. However, we offer up to 40% discounts and we don't add a loading to premiums based upon your company structure.
Do I have to use a broker?
No you don't if you don't want to. You can access our services directly via our mobile app, website or phone service 24/7.
Can I continue to use a broker?
Yes you can. However, from 3rd April Brokers will charge you a fee for registering your business and each time you request a HWI certificate from them.
Do I need to give you financial information to register?
If you already have eligibilty (cover) with iCare, no, you don't have to provide us with any further information. The only times you need to provide us with financial information from your Accountant is (a) when you've never had cover before; (b) when you want to increase you turnover limit; or (c) we request that information from you.
Will we be required to undergo quarterly or year financial reviews?
No. Financial reviews will only occur when SecureBuild has been provided with information that your financial circumstances have changed and you have not advised of that change.
Will I be required to have 10 progress claims in my contracts?
No. If you’re not a new entrant to the industry, we simply ask that you align two our your progress claims to two of SecureBuild’s three inspection points (lock-up/pre-lining and waterproofing) and that all other progress claims in your contract comply with section 8A of Home Building Act 1989. The number of other progress claims in your contracts is up to you and your client.
Is your payment approval process with my client going to delay me getting paid?
No, our Building Inspector will be required to notify your clients to pay your progress payment claim within 48 hours of you notifying us that you've completed a stage.
So what's the catch? What conditions are there?
You will need to agree to, accept and abide by SecureBuild's Terms & Conditions in order to obtain cover with us. The five main conditions are: (1) Do not demand and receive payment in advance of completion of the work outlined in your contract: (2) Do not demand or receive a payment prior to SecureBuild approving the payment with your client; (3) Align two of your claim payments within your contract with two of our predetermined inspection points; (4) Insert within your contract a clause that states that your client can withhold payment where SecureBuild finds incomplete or defective work; and (5) Where SecureBuild finds incomplete or defective work it is to be rectified or completed by you, the builder.
How does your payment and inspection process work?
You are allocated a highly qualified Building Inspector who will conduct inspections and tell you when it is safe to make payments to your builder. If the building inspector finds incomplete or defective building work they will advise you to hold off making payment until the builder has attended to the incomplete and defective items. You will be provided with a report following every inspection.
What am I covered for?
You are covered for up to $400,000 should any major defects arise within 6 years after construction has completed (2 years for minor defects). You are also covered for 20% of the contract price up to $400,000 for incomplete work.
When can I lodge a claim?
You can lodge a claim where your builder is no longer around to complete the project or fix post construction defects (i.e. they've died, disappeared, become insolvent/bankrupt or their licence has been suspended due to an outstanding court or tribunal money order).
Do you help with any dispute I may have with my builder?
Yes, the SecureBuild Building Inspector will assist you and your builder to quickly resolve issues that arise throughout the build and post construction. Many disputes arise from a lack of understanding about the building process or poor communication. Our highly qualified and experience building inspectors will be there to independently assist you and your build should this occur.