What is Home Warranty Insurance?
Home warranty insurance, is a protection for homeowners. It provides cover in situations where the contractor fails to complete the work, the work is defective, or subsidence occurs.
Most residential building work done in Queensland valued over $3,300 (including labour and materials) must have home warranty insurance.
As part of the building process, the builder pays a premium to the Queensland Building and Construction Commission to insure the construction. The amount is included as part of the contract, and is paid before work begins.
It may protect you where:
If the QBCC pay out on a claim, they will then pursue the builder to recover the claim amount. It’s important to have a signed contract with your builder. Apart from being a legal requirement, it ensures that you have access to the full range of benefits under the Home Warranty Scheme.
What is Portable Long Service Leave?
QLeave is the trading name of the Building and Construction Industry (Portable Long Service Leave) Authority established in 1992 to administer a paid long service leave scheme for eligible workers in the building and construction industry regardless of whether they work on different projects for one or more employers.
Where a development application for building, operational, plumbing or drainage work, with an estimated cost of the proposed work of $150,000 or more (excluding GST), has been lodged the Assessment Manager (Local Government or Private Certifier - Class A) must not issue the development permit, or approval, unless they have seen an approved form issued by QLeave (or written advice from QLeave) stating:
(1) that the levies, or the first instalment of levies, has been paid or
(2) that an exemption from payment of the levies exists in relation to the work or
(3) that an exemption from immediate payment of the levies exists in relation to the work.