The agency in charge of domestic building insurance has been canvassing premium hikes and ways to cut claims in an effort mend its finances.
One of two directors of embattled building company Nicheliving has resigned from his second role – a position highly involved with the state’s political elite.
At least three people have accused the deregistered builder of removing items from their houses after striking a deal to get the homes finished on the taxpayers’ dime.
Families traumatised by decades of what they describe as “ticking time-bomb” plumbing pipes are pleading for compassion after being excluded from a deal to remediate newer homes.
Insurance premiums are rising,and while getting on the phone to your insurer can be a drag,the savings are worth it.
Prospective home buyers could be charged to check if a house has domestic building insurance under a proposal from Victoria’s state-managed insurance agency.
There’s limited recourse for residents of properties managed under company titles,instead of strata schemes,to seek compensation or have work orders issued.
Taking the time to check builders’ and tradies’ credentials upfront is the best way to avoid problems when building,extending or renovating.
The revelation comes as the state government embarks on an ambitious reform of planning laws to tackle the state’s acute and growing housing crisis.
The Australian Consumers Insurance Lobby has warned maintenance quotes are being inflated by up to 120 per cent for people in strata units amid limited oversight by committees.
Home building insurance is increasing after a string of companies collapsed over the past year,leaving thousands of homes unfinished and the state-backed insurance agency making record payments.