Midland is one of only a handful of Victoria brokers eligible to handle Domestic Building Insurance (DBI), also known as Builder's Warranty Insurance. DBI is a legislated, mandatory policy for certain domestic building undertakings which is underwritten by the Victoria State Governments insurance arm - the VMIA.

What does it cover?

The policy is legislated to protect owners of domestic dwellings in instances of “last resort”. This consists of construction works that may not have been completed due to a builder dying, disappearing or becoming insolvent. Home owners are able to claim up to a maximum of $300,000 to rectify such instances.

Who Does It Cover?

Builders who are undertaking domestic building works greater than $16,000 in the state of Victoria are obliged to take out a DBI policy on behalf of their client. Works that require such a DBI policy include:

• Construction of a domestic dwelling, including ancillaries such as swimming pools, fences and landscaping.
• Renovation of a domestic dwelling, the works of which are worth over $16,000. Demolition of a domestic dwelling.
• The provision of sewage works, air-conditioning/ heating works and lighting works, the price of which is over $16,000.