NSW | Home Warranty Insurance | icare HBCF

*To qualify for an icare HBCF Auto Assessment, applicants need to be:

• Seeking an Open Job Value less than or equal to $3 million
• Not associated with another Builder who holds HBCF Eligibility, or part of a Group Trading Agreement
• Not seeking to undertake works for New Residential Apartment Building Construction greater than $2 million
• Hold a current NSW Contractor’s licence in the entity in which they trade.

^icare HBCF are prioritising eligibility applications for Home Building Compensation Fund insurance for builders and contractors in five flood-affected local government areas (LGAs) including Ballina, Byron, Lismore, Richmond Valley and Tweed Shire.

Calculating your HBCF premium

For project certificates issued from 1 July 2023, use our HBCF premium calculator below to determine the premium required (premiums are set by HBCF). You will need to the postcode for the site address, the contract value inclusive of GST and your icare HBCF individual premium rating (which can be viewed in the icare HBCF Builder Self-Service Portal).

Calculate premium from 1 March 2024

Request access to HBCF Builder Self-Service Portal

The HBCF Builder Self-Service Portal can give you easy online access to apply for certificates of insurance, update an open project to close once the job is complete, and accessing your information on the HBCF database.

We can arrange this access for our NSW home warranty customers. Simply nominate a responsible person in your business and request access. We’ll then arrange set up of your nominated representative with a username and password within two business days of receiving your request.

Request access

Make the smart switch to a better service

Our specialty is helping licensed builders and contractors, who are completing residential building work with a building contract in New South Wales (NSW), with home warranty insurance services.

As an approved icare HBCF broker distributor and with over 27 years’ home warranty cover experience, Master Builders Insurance Services knows the ins and outs of the specific needs of builders and trade contractors and the unique risks they face.

We do the heavy lifting

Our team have an exceptional understanding of home warranty insurance, terminology and legislation, so we can do the heavy lifting and liaison with HBCF – making it as easy and quick as possible for you.

Quick turn-around on Project Application forms

Because our insurance specialty is the building and construction industry, we know just how busy and demanding projects can be, and that you need help fast. We make it our priority to respond to our customers quickly and turn-around Project Application forms fast, so you can get on with the job at hand.

Expert liaison

Eligibility and Project Application Forms can be overwhelming. Let us do the heavy lifting and make the process easier. As your HBCF approved broker distributor, we’re your expert liaison between you and icare HBCF. We interpret complex insurance terminology, helping you understand exactly what you need to ensure you have the right eligibility and cover for each project.

Local team on-hand

Out team are located on the eastern seaboard of Australia and are responsive and on-hand to help with issues. We have some of the lowest Eligibility and Builder Profile Change fees in market and pride ourselves on giving you the best customer experience.

Our promise to you

Our customers, and the building and construction industry, are at the heart of everything we do. We make it our top priority to give you expert advice and make the process as easy and quick for you as possible.

FAQ’s

What is NSW Home Warranty Insurance (Home Building Compensation Fund - HBCF)?

NSW Home Warranty Insurance (Home Building Compensation Fund cover) covers the Homeowner in the event the Builder or Contractor dies, disappears, becomes insolvent, or has a non-compliant NCAT or Court money order which results in their building license being suspended.

The builder/tradesperson must obtain this cover before any work commences and before taking any payment under the contract, including the deposit.

Who needs NSW Home Warranty Insurance (HBCF icare)?

If you’re a licensed builder or tradesperson about to undertake a residential building project in New South Wales valued at over $20,000, you’re legally required to have, and show evidence of having, NSW Home Building Compensation Fund (HBCF) cover (also known as NSW Home Warranty Insurance). However, it doesn’t apply for new buildings over three storeys that contain two or more dwellings.

This includes, but is not limited to, the following types of builders and contractors for example:

• New home builders (both non-project and project home builders)
• Residential renovation builders – single dwelling
• Swimming pool builders
• Shed builders
• Remedial repairs builders – Class 2 buildings
• Trade contractors when contracting directly with the homeowner.

How do I get NSW Home Building Compensation Fund (HBCF) cover?

There are basically two-steps to getting NSW HBCF cover:

• Step One: Apply for Eligibility
• Step Two: Submit a Project Application Form/s.

STEP ONE
First, a builder or tradesperson needs to apply for new Eligibility or an Eligibility Review with HBCF through your HBCF broker distributor, Master Builders Insurance Services. This is a form our team will help you complete with the right information to help get a quicker response from HBCF.

HBCF will review your Eligibility application and undertake a risk assessment to determine if you’re eligible for NSW Home Building Compensation Cover (HBCF). If approved, your Certificate of Eligibility will state how much work you can take on and the types of works you can undertake.

You may need to apply for Periodic Eligibility Reviews on an ongoing basis - the frequency is determined by icare HBCF.

This is where our low fee for New Eligibility Application and no-fee for Eligibility Review Applications can help save you money!

STEP TWO
Once you have been approved and received your Certificate of Eligibility, our industry insurance specialists will help you complete your Project Application Form/s.

You will need to submit a new Project Application Form for each new project as they arise. This application must be completed, submitted and cover secured with confirmation from HBCF before you commence any work on the project, or receive any payment (including deposit).

Can I get Home Building Compensation Fund (HBCF) cover through any insurance broker?

No - there are currently only nine approved HBCF broker distributors, of which, Master Builders Insurance Services is one. We have some of the lowest fees for Eligibility and Builder Profile Changes Applications, along with project application fees, and we are known for our expert advice, fast service and ease-of-process.

Using Master Builders Insurance Services dedicated Home Warranty Insurance team will take the hassle out of the process. We do the heavy lifting and interpret complicated insurance terminology into meaningful, clear information to help you make the most informed decision with ease.

When you need cover for each project, we make the application process smooth, quick and as easy as possible so you can get on with the job.

NSW Policy Wording

NSW Home Building Compensation Fund (Home Warranty Insurance) covers the Homeowner in the event the Builder or Contractor dies, disappears, becomes insolvent, or has a non-compliant NCAT or Court money order which results in their building license being suspended.

The full Home Building Compensation Fund policy wordings are noted below; please refer to the policy date of issue to establish which is applicable.

• HBCF Policy Wording for Residential Work (1 June 2018 – current)
• HBCF Policy Wording for Residential Work (15 January 2018 – 31 May 2018)
• HBCF Policy Wording for Residential Work (1 February 2012 – 14 January 2015)
• HBCF Policy Wording for Residential Work (1 July 2010 – 30 January 2012)

Let us do the heavy lifting

Call us for an obligation-free chat today.

Phone 1300 13 13 24 Email our team