Contractor insurance requirements
Changing or cancelling insurance
When we issue an insurance policy, it relates to a specific dwelling and is not transferrable to another property. Unfortunately, we are unable to swap or change a site or owner on a given policy.
If you want to change details (apart from value) on the insurance certificate, it must relate to an error of detail, not to a change of detail.
Changing the policy details
Your request should include a letter signed by all parties, outlining the amendment and should include supporting documentation; a copy of the contract and the variation document. You can send the request through our online general enquiry facility in myQBCC or fax.
Changing the value - increasing or decreasing
If you are increasing the value of the project, you may need to pay an additional premium. Add all the contract variations together to calculate the total value.
- Less than $5000 total value of contract variations - you can pay an additional premium if you wish to. Your clients may request you do this so the insurance documentation reflects the true value of the work.
- $5000 or more total value of contract variations - you must pay an additional premium.
- Any single variation which is $5000 or more - you must pay an additional premium.
Please note that if an additional premium is payable for a variation, it must be paid before any work relating to the variation starts.
Remember to keep track of your variations as penalties apply if the correct premiums aren't paid.
If you are decreasing the value of the project, send:
- your written authority outlining the decrease to the value of the insurance policy, and
- a signed and dated copy of the building contract, including a copy of the signed variations document, detailing the changes made to the contract value. If a signed variation and/or contract is not available, provide a Statutory Declaration signed by both parties confirming the change.
Once the amendment is complete, we send you a new construction notification and a new certificate of insurance to the owner.
Refund of fees
If the value of the work decreases because of a variation, we may refund part of the premium to the consumer.
If the policy is cancelled, we will refund to you or to a person you have nominated. If you nominate someone else to receive the refund, you must advise us in writing.
Cancelling a policy of insurance
If you and the owner agree to terminate a contract, you must provide all required information before we are able to cancel the policy and issue a refund.
We will only cancel a policy of insurance if:
- the work insured under the policy has not commenced
- the contract between yourself and the owner has ended
- less than 1 year has elapsed since the day the contract was entered into
- any deposit paid has been refunded – less lawful deductions (this may include the QBCC premium)
- you have provided QBCC with the required information.
What should be provided to QBCC?
- A written request from the contractor to cancel the QBCC insurance policy
- Signed and dated copy of the building contract including the deposit/stage payments section (we do not require a copy of the terms and conditions). If there is no written contract, please provide a Statutory Declaration (PDF) confirming this
- A copy of signed variations detailing changes made to the contract
- A copy of the written notice of withdrawal under the 'cooling-off period' (where applicable). Where a written notice of withdrawal does not exist, provide a Statutory Declaration (PDF) signed by both parties
- Evidence that:
- no money has been paid by the owner to the builder, or
- monies which were paid by the owner under the building contract (this may include the QBCC insurance premium), have been refunded in accordance with the building contract. Evidence could include a copy of the reconciliation and/or receipts; and
- a declaration from both parties that no works have commenced.