Contract Works insurance

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nofam

1094 posts

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#195400 19-Apr-2016 11:52

Hi guys,

Looking for options/feedback on Contract Works insurance for our new house build - have got an estimate from State so far (~$950) but keen to get some thoughts (good and bad) on them and other providers?

kingjj

1730 posts

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#1535544 19-Apr-2016 12:42

Got ours through Lumley, cost the same as yours but was only for a $40,000 contract. $950 sounds great for a new house build.

antoniosk

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#1535551 19-Apr-2016 12:51

I got ours through Vero, but as the build was a lot bigger, so was the bill :-)

Ask them about how to handle extensions for cover, in case the complete date moves

________

Antoniosk

nofam

1094 posts

Uber Geek
+1 received by user: 30

#1535556 19-Apr-2016 12:56

nofam:

Hi guys,

Looking for options/feedback on Contract Works insurance for our new house build - have got an estimate from State so far (~$950) but keen to get some thoughts (good and bad) on them and other providers?

Value of the build will be around $575k (for the sake of comparison). Builder has public liability insurance.

icekayak

50 posts

Geek
+1 received by user: 4

#1535863 19-Apr-2016 17:39

Consider putting the contract works with the same company you intend on insuring the home/contents with. If there is any hold up with the ccc at the end it will be a bit simpler to insure without double insurance in place.

Also, always buy it for longer than you need. Contract works always go over and the insurer will charge a minimum premium to extend even for a short period. To add a extra couple of months up front will normally only cost a couple of dollars.

pipe60

129 posts

Master Geek
+1 received by user: 33

#1535920 19-Apr-2016 18:50

+1 for Lumley on new house $801