Domestic building insurance

We report on the performance of insurers in providing domestic building insurance (DBI), and the adequacy and validity of the Victorian Managed Insurance Authority’s DBI premiums.

DBI is taken out by builders on behalf of home owners. It is insurance to provide compensation to home owners for losses resulting from non-completion or defects in domestic building work where the builder cannot be pursued directly because they have died, disappeared, or become insolvent.

In Victoria, it is compulsory for builders to obtain DBI in all domestic construction contracts over 16,000 in value.

For consumer-related information on domestic building insurance, visit Consumer Affairs Victoria. Read the VMIA's information on DBI premiums.