We refer to our previous correspondence regarding the Premium increases from 1 January 2021.
The HBCF now advise that the following changes will not occur:
- Premium increase from 1 January 2021 for Construction Type C09
- Construction Type C07 – Other will not be removed
The following changes will occur as previously advised:
- Premium increases from 1 January 2021 for all multi-unit dwelling projects for construction types C02, C03 & C08
- Premium increase from 1 January 2021 for Construction Type C04
The new rates and premium weighting factors will apply to all policies (certificates of insurance) quoted and issued from the dates above for the respective construction codes.
The premium calculators (icare website and the Builder Self Service Portal) have been updated with the new rates. If the date of policy issue is after 1 January 2021, the new rates will apply.
View Further Information by Construction Type
Please do not hesitate to contact this office if you have any questions or we can be of further assistance.
T: 1300 550665
E: homewarrantynsw@shcorp.com.au
SHC Insurance Brokers
Home Warranty Team
