Latest changes to HBCF | Home Building Compensation Fund (HBCF) | Master Builders Insurance Brokers (MBIB) | Homeowners Insurance | Home Warranty Insurance New South Wales
Latest changes to HBCF reforms.
icare HBCF have advised that there will be changes to premiums and application forms effective 1 January 2020.
Here's what might affect you:
1. Premium changes
Premiums will be increasing effective 1 January 2021 for the following construction types:
From 1 March 2021 the C07 Other construction category will no longer be available.
In order to facilitate a smooth transition to the new rates from 1st January, any project that you wish to have processed under the existing rates MUST be received & quoted by Tuesday, 8 December 2020 with payment to be received by Friday, 11 December 2020.
If you are unable to submit the application to us by this date, you may be charged the new rates.
For more details, please see the Frequently Asked Questions from icare HBCF.
2. New project application forms
icare HBCF have released version 4.1 of the project application forms. The forms include updated information to assist you in selecting the correct building construction type for your project.
3. Project classification infographics and information
HBCF has prepared updated infographics for the construction types of primary and secondary dwellings. There is also a new information sheet defining structural and non-structural work for the purposes of the HBCF.
HBCF Primary Construction Types Infographic
HBCF Secondary Dwelling Construction Types Infographic
Structural vs Non-Structural Construction Type Classification Information
For more information, talk to our specialist team call Ph: 1800 150 888