Domestic Building Insurance (DBI) provides some protection to homeowners in the event that their building project cannot be completed or has defective works which cannot be rectified as their builder has:
- died, disappeared or become insolvent;
- or failed to comply with a Tribunal or Court Order where DBI was issued by VMIA on or after 1 July 2015.
Builders in Victoria are required by law to take out domestic building insurance, also known as builder’s warranty insurance, for work valued at more than $16,000.
We have offered domestic building insurance in Victoria at the direction of the State Government since May 2010.