What You Need to Know About Home Indemnity Insurance for Unfinished Homes in Western Australia
If you’re a homeowner in Western Australia facing the challenge of an unfinished home because your builder can no longer complete the work, you’re not alone. At Patterson Construction, we’ve seen many homeowners left in difficult situations, and we’re here to help you navigate the complexities of Home Indemnity Insurance (HII). Here’s a step-by-step guide to understanding what you’re eligible for and how to take the necessary actions.
1. Understand Your Eligibility for Home Indemnity Insurance
In WA, Home Indemnity Insurance (HII) protects homeowners against financial loss if their builder cannot complete the construction of their home due to death, insolvency, or disappearance. HII policies cover homes valued at up to $200,000, though this may vary, so it’s essential to review your policy details.
2. Contact Your Insurance Provider
The first step is to contact your HII provider. They’ll need information about the situation and your current claim status. This process can sometimes feel daunting, especially if you’re already handling the emotional impact of an incomplete home, but it’s crucial to start here to avoid further delays in getting assistance.
3. Document Everything
Gather all contracts, receipts, invoices, and correspondence with your original builder. You’ll need to provide a record of your contract, the payments made, and any work completed so far. This documentation is necessary for your insurance provider to understand the extent of work already done and evaluate the next steps.
4. Initiate a Claim
Once you’ve contacted your insurer and gathered your documents, formally initiate a claim with your HII provider. In some cases, insurers may cover the cost to finish the home up to the policy’s limit, so be prepared to discuss the scope of work that remains.
5. Get Assistance from an Experienced Builder
Many homeowners find themselves needing to hire a new builder to complete the unfinished work. At Patterson Construction, we’ve helped numerous clients who’ve been affected by these unfortunate circumstances. We bring experience in transitioning partially finished projects to completion with the utmost care, transparency, and professionalism.
6. Coordinate with Your New Builder and Insurer
After hiring a new builder, coordinate closely with your insurer. HII claims can sometimes involve inspections, progress reports, or assessments by the insurer to ensure all covered work meets the standards outlined in your policy. A knowledgeable builder like Patterson Construction will work with you and your insurer to streamline this process, ensuring compliance with your policy and adherence to building codes.
7. Stay Informed on WA Building Requirements and Limits
Building requirements and insurance limits in WA can vary, so stay informed on the latest updates from the Department of Mines, Industry Regulation, and Safety (DMIRS). Knowing the limits of your coverage can help you and your new builder plan within the budget covered by your HII policy and avoid unexpected expenses.
If you’re left with an unfinished home and unsure where to turn, know that you don’t have to go through this alone. At Patterson Construction, we understand the unique challenges of continuing a project that’s been left unfinished. We bring expertise, transparency, and compassion to each project, helping homeowners regain peace of mind while finally bringing their home vision to life.
Reach out to Patterson Construction today if you need help navigating Home Indemnity Insurance claims or finding a trusted partner to complete your unfinished home.