Paying the premium and notice of cover

For eligible projects, the builder is responsible for paying the Home Warranty premium.

The premium must be paid before the earlier of:

• 10 business days after entering into the major domestic building contract
• the eligible domestic building work starting.

Who pays the premium

The builder is responsible for paying the Home Warranty premium on behalf of the building owner.

The cost may be reflected in the contract price. Builders should make sure the homeowner understands what has been included in the quote or contract.

Notice of Cover

If BPC accepts payment of the Home Warranty premium, BPC will issue a Notice of Cover to the building owner.

The Notice of Cover confirms details about the eligible project.

Keep records

You should keep records of:

• the major domestic building contract
• the value of the domestic building work
• the Notice of Cover
• payment records for the applicable premium
• agreed variations
• any amended Notice of Cover.

Good records can help if there is a dispute, claim, rectification order or compliance issue later.

If you do not pay the required premium

Failing to pay the applicable insurance premium is an offence and may result in disciplinary action or prosecution.