Construction Warranty Insurance
Building Indemnity Insurance (South Australia)
Builders operating in the state of South Australia are required to purchase Building Indemnity Insurance (BII) on behalf of the homeowner for all domestic building projects over $12,000.
Assetinsure is the only private insurer supporting builders with Building Indemnity Insurance in South Australia.
Get help fast email cwi@assetinsure.com.au or call 1800 316 631 or 03 9112 1029
Home Owner:
In South Australia, Building Indemnity Insurance (BII), is a government legislated product that provides the owner with coverage during and 5 years after completion or termination of domestic building works. The insurance is required for any works completed by a registered builder above $12,000. This covers non-completed and defective work that is unable to be rectified due to the builder dying, disappearing or becoming insolvent, or in the case of a company, that ceases to exist or becomes insolvent.
Builder:
In South Australia, it is a requirement for a builder to have Building Indemnity Insurance (BII) eligibility in order to maintain their domestic builders license with the South Australian Government Financing Authority. For any works over $12,000 insurance needs to be held for a building permit to be acquired, and therefore for any works to proceed. Assetinsure has been a provider of Building Indemnity Insurance, known as Domestic Building Insurance in Victoria, (DBI) since 2016 and is the only private insurer offering the product in Victoria and South Australia. We have the systems and support structure in place to provide superior service. Our Underwriters are always available to make a builder’s experience as quick and seamless as possible.
Brokers:
Assetinsure is continuously looking to grow our Broker panel, we provide a high quality, quick and seamless service. This allows us to build a great connection with all our brokers, allowing the brokers to maintain strong relationships with their clients.
Benefits of dealing with Assetinsure;
✓ Commission on all policies issued.
✓ Direct communication with our underwriters.
✓ Faster response times than our competition.
✓ The ability to tailor approvals to meet the clients requirements.
Who is Assetinsure / Benefits of dealing with us?
Assetinsure Pty Ltd (Assetinsure) underwrites Building Indemnity Insurance (BII) and is only one of 2 providers in South Australia. After 6 successful years of offering this product in Victoria, we are now offering a similar home warranty product in South Australia and working towards a new offering in New South Wales.
Assetinsure’s BII has been specially designed to provide builder’s with quick and cost-effective solutions to meet with their compliance needs.
Assetinsure Pty Ltd is supervised by the Australian Prudential Regulation Authority (APRA).
What We Offer
✓ A direct line of communication with our Underwriters
✓ Excellent response times
✓ Fast issuance of insurance certificates via our online portal
✓ Tailored commercial outcomes that best meet the needs of our clients
Portal
The portal has been developed to ensure that interactions are as quick and seamless as possible. It provides builders with access to a range of functions, including the ability to;
✓ Download an up to date Letter of Eligibility (Coming Soon)
✓ Apply and pay for new certificates
✓ View current limit usage
✓ Get job specific quotes
✓ Download an up to date jobs list (Coming Soon)
Our team will be happy to answer any questions you have regarding the portal and how to use it.
For further information, or a quote, please call us on 1800 316 631 / 03 9112 1029 or Email: cwi@assetinsure.com.au
Need more information? Download our latest brochure here.
Below all our FAQs on Building Indemnity Insurance (BII)
Why should you choose Assetinsure?
Assetinsure has successfully been a provider of DBI in Victoria since 2016 and as of 2023 the only private insurer offering the product in South Australia. We have the systems and support structure in place to provide superior service. Our Underwriters are always available to make a builders experience as quick and seamless as possible
How is Assetinsure different from competitors?
We are a smaller and nimbler organisation for the benefit of our customers. We prioritise quick and efficient service and obtaining the best commercial outcomes for our clients.
Do you insure multi-unit sites?
Yes, however, if it is for more than 2 units on a site we require you to submit plans and documentation first for our perusal.
How long will eligibility renewals take?
A review typically takes a maximum of 2 weeks from when all required information is received.
How long do job approvals take?
In cases where a job isn’t auto approved, the review typically takes 3 business days or less from when all required information is received.
Can I get increase to the limits we have been given?
Limits are reviewed on a case by case basis.
How do I obtain my certificates and how long will it take?
Once we have issued your eligibility, you will receive log on details to our online portal, where you will be able to issue any certificates required.
Do I have to use a broker with Assetinsure?
We have many broker partners however unlike our competitors you can get insurance directly with us or through a Broker if you choose.
What are Assetinsure’s opening hours?
Our underwriters are available to take your call from 8:30am – 5:00pm Monday – Friday. You can call us on 1800 316 631 / 03 9112 1029 or email cwi@assetinsure.com.au.
When can I make a claim?
Building Indemnity Insurance covers non-completed and defective work that is unable to be rectified due to the builder dying, disappearing or becoming insolvent, or in the case of a company, that ceases to exist or becomes insolvent. For more clams information please see our claims page or email claims@assetinsure.com.au.