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Qtrust Insurance & Advisory. Accredited. Independent. Experienced. Clients First
'smart’ owner builder insurance designed to protect owner builders against personal or property loss or damage, and public liability. Quote online or phone quote 1300 798 991. Australia's owner builder hub for Insurances, Education, Information and latest news. Multi insurers. Multi choice. Public & legal liability. Over 30,000 owner builder reviews is our clients guarantee we know detail in detail.
'smart’ owner builder insurance designed to protect owner builders against personal or property loss or damage, and public liability. Quote online or phone quote 1300 798 991. Australia's owner builder hub for Insurances, Education, Information and latest news. Multi insurers. Multi choice. Public & legal liability. Over 30,000 owner builder reviews is our clients guarantee we know detail in detail.
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Equipment Hire Agreements are designed to protect the hire company and not necessary the owner builder
Along with the evolution of owner builders into ‘managers of trades’ and subcontractors and less hands on, the practice of hiring equipment and machinery has diminished. However fundamental construction site equipment such as portable loos, hoardings and fencing are common hire items.

Hire Agreements are often complex documents with content layout and font sizes foreign to most humans.  Moreover hire company staff are known to hastily shift a Hire Agreement with ‘pen’ under the owner builder’s nose with little time to review the actual document. In nearly all cases these Hire Agreements provide adequate damage waiver, but not always loss or theft. This means damage to equipment may be included in a Hire Agreement but not loss or stolen goods.

Insurance is always about ‘detail and knowledge’, and often not knowing the right questions means you miss out on important information. FACT- MOST OWNER BUILDER INSURANCE PRODUCTS EXCLUDE HIRE EQUIPMENT FROM THE POLICY.

When brokers introduce the topic that Care Custody or Control provisions may cover these hired goods they are wrong. Wrong because any loss or damage will require legal ownership proof, and not necessarily contract or contractual ownership proof. In the situation where burglary of goods occurs an owner builder may not necessarily be found legally liable for the loss. (Confused? speak to our broking team, we know the detail and can explain the technicalities in plain English)

Sam Greco, Principal, Qamvis Insurance Group says, ‘owner builders should be made aware that Hire Agreement are designed and constructed to protect the hire company and not necessary the owner builder’.

Qtrust through its insurers (Qiducia Underwriting and Guild Insurance Ltd (ABN 55 004 538 863, AFSL 233791) provide Optional Cover Extensions, including tools, plant and equipment

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As Owner Builders we believe it's important to understand the detail of construction insurance including public liability and third party property damage. Qtrust places a heavy emphasis on risk mitigation practices including options to ensure you and your family’s financial wellbeing is protected.
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Customer Satisfaction Review 2015
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The Naked Truth About Owner Builder Insurance
The truth and reality when considering insurance is determining the consequences should something happening during the construction or renovation period. 

All too often owner builder’s view insurance as the ‘chances’ of something happening and a potential loss. However, Sam Greco, Principal Qtrust Insurance & Advisory Services, advises owner builders that ‘insurance should be viewed as the financial impact or destruction of family assets should something happen, and importantly if the consequences or loss is greater than you can personally absorb, then insurance is a must’. Insurance is only about an unforeseen incident of event, nothing else matters or plays into the equation.

The naked truth strips away the sales jargon to expose the real cover afforded to owner builders. A fundamental home truth is that no insurance policy covers ‘everything’ and every incident and event. Check any insurance policy for the words ‘NOT EVERYTHING IS COVERED’. Therefore on this pretext what’s “not” covered is just as important as what “is” covered.

Common owner builder insurance information which spins web of misinformation and mistruth about cover. For example.

Subcontractors are covered under an owner builder policy ‘No’ they are not. Subcontractors are independent entities and required to carry insurances. Their actions and consequences of action maybe covered but the subcontractor themselves are not.

Mitigation Values When an incident occurs and the owner builder is required to mitigate or take action to further reduce damage, then an allowance is nominated in the policy. In most events these out of pocket expenses are related to (such as) after hour trades call-outs or hiring of equipment such as generators etc. Insurers try pulling wool over owner builders by promoting absurd values that could never be claimed against for example $50,000 for out of pocket expenses! Which owner builders have credit card limits of $50,000?

Goods in Transit Can only be called upon if no other insurance is available such a car insurance, shipping or transit insurance, CTP or at fault insurance.

Increased cost of workings Some underwriters interchange this cover with Escalation Costs. Both these terms have very different definitions, they are not interchangeable. Owner builders are better off with Escalation Costs Allowances because it directly relates to the cost of rebuilding or reinstating lost property.

Maintenance period No imaginable scenario can trigger this condition.

Pre-existing property cover Some insurance policies cover damage to existing structures only which arises out of the contract works. What if damage is sustained not related to contract works?

Multi underwriters to one policy. For example when an insurer is unknown or no brand, (often Head Office and Claims management located off shore) insurance is broken up into multi elements but sold to owner builders as one policy. No single point of claims management.
 
Foreign insurers dressed to appear Australian. The cost of insurance is determined by an insurers calculation of probability that an actual claim will be made. An insurers inexperienced or unawareness of detailed owner builder risks either under-price the quote and therefore run the risk of making a loss and not paying or significantly making it difficult to claim, or over-price, hoping it makes a profit. 
 
Insurers often don’t trust their own calculations and numbers, and often offset their ‘bets’ through re-insuring your project through other insurers. In other words, take out insurance on their insurance! All this activity erodes an insurance company’s confidence in costings and financial calculation and ultimately profits which pays out claims.

Australia’s owner builder segment is a narrow insurance niche generating in excess of 1,000 new policies each month. In such confined markets, insurers must accurately detail their products and pricing. ‘This is the real importance of arranging insurance through trusted and experienced organisations’, says Anne Renshaw of Qtust Insurance & Advisory, ‘because just like experienced commercial insurance buyers who always select an insurer before an insurance policy, owner builders should only arrange insurance through quality insurers.

The quality of insurer determines and guarantees the quality of insurance’. 
 
Owner builders in most instances are not experienced commercial insurance buyers. Contract works and construction public liability insurances is commercial grade, placing owner builders at a disadvantage. 

In recent years the Qtrust team has serviced and insured tens of thousands owner builders customers. No other insurance firm matches this depth of experience, owner building understanding, industry competency or track record. None!

When the price is cheap, the quality of insurance is invariably cheaper.
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2016-02-11
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How to choose the best owner builder insurance product

What separates one insurance from another lies in the quality of the insurer. Quality of an insurer is measured by reputation, experience and commitment to the clients it serves. 

‘We hear it every day, when it’s time to buy insurance nothing is a problem, but when you need them, it appears everything is a problem’, says Sam Greco, Chief Executive Qamvis Insurance Group owner of insurance brands Qtrust, Qiducia Underwriters and Insure online. 
Owner builders should be aware that no insurance covers everything. Simple sales consultants make it sound simple: everything is covered! No it’s not. The detail lies deep within the insurer, and this detail lies very much with the insurers understanding of owner builders, its reputation, and experience and client commitment. 

When choosing insurance, owner builders are disadvantaged because it’s what to know about the Policy cover and how technicalities apply to the actual construction project specifics. Owner builder insurance is commercial grade insurance. It’s not house and contents and not car or travel insurance, so rules, terms and conditions are very different and are governed by different laws and precedents. 
Example of weak insurance:
1. Identifying an owner builder as the principal contractor. By definition an owner builder cannot be principal contractor because they are the owner builder by legal definition (site owner and builder);
2. Subcontractors are insurance under the principal contractor. See point 1 above. Poor and ambiguous insurance wordings by inexperienced owner builder insurers.
3. Claims or policy complaints are only available under NSW law. What about the rest of Australia, after all we don’t all live in Sydney. (As a matter of fact: more owner builders reside outside of Sydney than in Sydney).
4. Commenced works exclusions and embargoes;
5. When renovating or adding an extension excluding Public Liability cover across the owner builder’s residential site;
6. Escalation of cost allowances interpreted as increased cost of workings;
7. No brand insurance companies, foreign insurers and ‘never heard of’ insurance companies have very little understanding of owner building under Australian conditions. They generally advertise broadly announcing outlandish benefits such as free house paint or free books if you purchase insurance. Nonsense. Insurance is serious.
Insurance price Vs performance equation is unlike most purchases, where better quality equals higher price. Owner builder insurance premiums works in reverse. High quality insurers understand risks in far greater detail and thereby price all elements of cover that reflect actual risk. In other words premium is a truer reflection of actual risk an insurer faces and prices accordingly.

Qtrust Insurance works hand in hand with underwriters and their key personal (Qiducia Underwriting). With over 40,000 owner builder construction projects insured, the underwriter’s offers first class protection with best in class premiums. Qtrust guarantees best price with a unique Price Beat Guarantee.

Owner builders Victoria and owner builder NSW are advised to check their building permit or development authority to ensure no special construction conditions apply or are required to be inserted on the Policy schedule. For expert advice contact Qtrust Insurance & Advisory or Qiducia Underwriting.
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How to choose the best owner builder insurance product

What separates one insurance from another lies in the quality of the insurer. Quality of an insurer is measured by reputation, experience and commitment to the clients it serves. 

‘We hear it every day, when it’s time to buy insurance nothing is a problem, but when you need them, it appears everything is a problem’, says Sam Greco, Chief Executive Qamvis Insurance Group owner of insurance brands Qtrust, Qiducia Underwriters and Insure online. 
Owner builders should be aware that no insurance covers everything. Simple sales consultants make it sound simple: everything is covered! No it’s not. The detail lies deep within the insurer, and this detail lies very much with the insurers understanding of owner builders, its reputation, and experience and client commitment. 

When choosing insurance, owner builders are disadvantaged because it’s what to know about the Policy cover and how technicalities apply to the actual construction project specifics. Owner builder insurance is commercial grade insurance. It’s not house and contents and not car or travel insurance, so rules, terms and conditions are very different and are governed by different laws and precedents. 
Example of weak insurance:
1. Identifying an owner builder as the principal contractor. By definition an owner builder cannot be principal contractor because they are the owner builder by legal definition (site owner and builder);
2. Subcontractors are insurance under the principal contractor. See point 1 above. Poor and ambiguous insurance wordings by inexperienced owner builder insurers.
3. Claims or policy complaints are only available under NSW law. What about the rest of Australia, after all we don’t all live in Sydney. (As a matter of fact: more owner builders reside outside of Sydney than in Sydney).
4. Commenced works exclusions and embargoes;
5. When renovating or adding an extension excluding Public Liability cover across the owner builder’s residential site;
6. Escalation of cost allowances interpreted as increased cost of workings;
7. No brand insurance companies, foreign insurers and ‘never heard of’ insurance companies have very little understanding of owner building under Australian conditions. They generally advertise broadly announcing outlandish benefits such as free house paint or free books if you purchase insurance. Nonsense. Insurance is serious.
Insurance price Vs performance equation is unlike most purchases, where better quality equals higher price. Owner builder insurance premiums works in reverse. High quality insurers understand risks in far greater detail and thereby price all elements of cover that reflect actual risk. In other words premium is a truer reflection of actual risk an insurer faces and prices accordingly.

Qtrust Insurance works hand in hand with underwriters and their key personal (Qiducia Underwriting). With over 40,000 owner builder construction projects insured, the underwriter’s offers first class protection with best in class premiums. Qtrust guarantees best price with a unique Price Beat Guarantee.

Owner builders Victoria and owner builder NSW are advised to check their building permit or development authority to ensure no special construction conditions apply or are required to be inserted on the Policy schedule. For expert advice contact Qtrust Insurance & Advisory or Qiducia Underwriting.
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Building or installing a prefab granny flat is ideally an owner builder project. In 2015 our firm insured in excess of 400 granny flat projects. 85% in NSW. Victoria is out of step. 

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How to choose the best owner builder insurance product
What separates one insurance from another lies in the quality of the insurer. Quality of an insurer is measured by reputation, experience and commitment to the clients it serves. 
‘We hear it every day, when it’s time to buy insurance nothing is a problem, but when you need them, it appears everything is a problem’, says Sam Greco, Chief Executive Qamvis Insurance Group owner of insurance brands Qtrust, Qiducia Underwriters and Insure online. 
Owner builders should be aware that no insurance covers everything. Simple sales consultants make it sound simple: everything is covered! No it’s not. The detail lies deep within the insurer, and this detail lies very much with the insurers understanding of owner builders, its reputation, and experience and client commitment. 
When choosing insurance, owner builders are disadvantaged because it’s what to know about the Policy cover and how technicalities apply to the actual construction project specifics. Owner builder insurance is commercial grade insurance. It’s not house and contents and not car or travel insurance, so rules, terms and conditions are very different and are governed by different laws and precedents. 
Example of weak insurance:
1. Identifying an owner builder as the principal contractor. By definition an owner builder cannot be principal contractor because they are the owner builder by legal definition (site owner and builder);
2. Subcontractors are insurance under the principal contractor. See point 1 above. Poor and ambiguous insurance wordings by inexperienced owner builder insurers.
3. Claims or policy complaints are only available under NSW law. What about the rest of Australia, after all we don’t all live in Sydney. (As a matter of fact: more owner builders reside outside of Sydney than in Sydney).
4. Commenced works exclusions and embargoes;
5. When renovating or adding an extension excluding Public Liability cover across the owner builder’s residential site;
6. Escalation of cost allowances interpreted as increased cost of workings;
7. No brand insurance companies, foreign insurers and ‘never heard of’ insurance companies have very little understanding of owner building under Australian conditions. They generally advertise broadly announcing outlandish benefits such as free house paint or free books if you purchase insurance. Nonsense. Insurance is serious.
Insurance price Vs performance equation is unlike most purchases, where better quality equals higher price. Owner builder insurance premiums works in reverse. High quality insurers understand risks in far greater detail and thereby price all elements of cover that reflect actual risk. In other words premium is a truer reflection of actual risk an insurer faces and prices accordingly.
Qtrust Insurance works hand in hand with underwriters and their key personal (Qiducia Underwriting). With over 40,000 owner builder construction projects insured, the underwriter’s offers first class protection with best in class premiums. Qtrust guarantees best price with a unique Price Beat Guarantee.
Owner builders Victoria and owner builder NSW are advised to check their building permit or development authority to ensure no special construction conditions apply or are required to be inserted on the Policy schedule. For expert advice contact Qtrust Insurance & Advisory or Qiducia Underwriting.
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