CHANGE OF THE HOME WARRANTY INSURANCE

CHANGE OF THE HOME WARRANTY INSURANCE

20 Januday 2010

The State Government will commence underwriting the Home Warranty Insurance Scheme in NSW said Nationals Member for Lismore Thomas George.

“Some years ago the NSW Government privatised the home warranty insurance. The Coalition prophesised at that time that it would collapse and the Government would then again have to take it over. This has now occurred,” said Mr George.

The new scheme will commence in NSW from 1 July 2010 and will provide cover to consumers of up to $300,000 in circumstances where their builder is no longer able to or capable of completing the project or rectify defective work.

The new model will be underwritten and capitalised by the Government and funded by home warranty insurance premiums.

“It will be managed by Treasury through the Self Insurance Corporation,” said Mr George.

Cover for building projects already issued by insurers will remain in force for the duration of the policy allowing consumers to make claims where necessary.

“After 1 July 2010, the cover will revert to the Government,” said Mr George.

Lismore Contact Details:

Office: 55 Carrington Street  LISMORE
Postal: PO Box 52  LISMORE  NSW  2480
Telephone: 02 6621 3624
Facsimile: 02 6622 1403
Email: lismore@parliament.nsw.gov.au

Murwillumbah Contact Details:

Telephone: 02 6672 7577