WA Home Buyers – GOOD NEWS!
Good news for WA Home Buyers, the WA Government has increased the size of the potential Indemnity payout from $100k to $200K for purchasers in the event of defective works when the Owner Builder has died, disappeared, or become insolvent.
These changes will give purchasers of Owner Builder homes increased confidence that in the event of a defect occurring they have a two-step process to obtain satisfaction:
1. The Owner Builder
2. The Insurer
Now that the limit of Indemnity has increased to a more realistic $200K, Purchasers will have a level of confidence in the Indemnity Process.
Commerce Minister Roger Cook confirmed that this increase in the Indemnity limit would give prospective home buyers “Peace of Mind”.
“Knowing that if things go wrong there will be a much better Safety Net”
WA home buyers find out more about Indemnity Insurance now