Home Warranty Insurance for Tasmania
Tasmanian Government
The purpose of this paper is to consult with stakeholders, including both industry and consumers, on the development of a new model for home warranty insurance (HWI) in Tasmania. This paper does not provide detailed information relating to the costings of any potential options. This work is to be included in subsequent consultations or Regulatory Impact Statements (RIS).
For many Tasmanians, building a home is one of the most substantial financial outlays that they may ever make. As with any industry, occasionally things may not go to plan, resulting in significant costs to the consumer, or the prospect of costly and protracted legal disputes.
HWI schemes must be designed and implemented to ensure that consumers and homeowners are provided with adequate protection whilst balancing the costs of premiums and administration.
While there are a number of existing protections for consumers within the Tasmanian Building Regulatory Framework, including provisions in the Residential Building Work Contracts and Dispute Resolution Act 2016, the Building Act 2016 and the Occupational Licensing Act 2005, a HWI scheme has been identified as an opportunity to further strengthen the consumer protections provided when building a home in Tasmania.
Home Warranty Insurance For Tasmania
How To Have Your Say
A Message From The Minister
Executive Summary
Section 1 - The Tasmanian Building Regulatory Framework
Section 2 - Home Warranty Insurance
Section 3 - Models
Section 4 - Discussion Points
