In Victoria, Domestic Building Insurance (DBI) is a government legislated product that provides the owner with coverage during and 6 years after completion or termination of domestic building works. The insurance is required for any works completed by a registered builder above $16,000. This covers non-completed and defective work that is unable to be rectified due to the builder dying, disappearing or becoming insolvent, or in the case of a company, that ceases to exist or becomes insolvent.
In Victoria, it is a requirement for a builder to have Domestic Building Insurance (DBI) eligibility in order to maintain their domestic builders license with the Victorian Building Authority. For any works over $16,000 insurance needs to be held for a building permit to be acquired, and therefore for any works to proceed. Assetinsure has been a provider of DBI in Victoria since 2016 and is the only private insurer offering the product in Victoria. We have the systems and support structure in place to provide superior service. Our Underwriters are always available to make a builders experience as quick and seamless as possible.
Assetinsure is continuously looking to grow our Broker panel, we provide a high quality, quick and seamless service. This allows us to build a great connection with all our brokers, allowing the brokers to maintain strong relationships with their clients.
Benefits of dealing with Assetinsure;
✓ Commission on all policies issued.
✓ Direct communication with our underwriters.
✓ Faster response times than our competition.
✓ The ability to tailor approvals to meet the clients requirements.
Who is Assetinsure / Benefits of dealing with us?
Assetinsure Pty Ltd (Assetinsure) underwrites Domestic Building Insurance (DBI) and is only one of 2 providers in Victoria. After 6 successful years of offering this product in Victoria, we are now offering a similar home warranty product in South Australia and working towards a new offering in New South Wales.
Assetinsure’s DBI has been specially designed to provide builder’s with quick and cost-effective solutions to meet with their compliance needs.
Assetinsure Pty Ltd is supervised by the Australian Prudential Regulation Authority (APRA).
Assetinsure Pty Ltd Melbourne Office – G.08 202 Jells Road, Wheelers Hill VIC 3150
What We Offer
✓ A direct line of communication with our Underwriters
✓ Excellent response times
✓ Fast issuance of insurance certificates via our online portal
✓ Tailored commercial outcomes that best meet the needs of our clients
The portal has been developed to ensure that interactions are as quick and seamless as possible. It provides builders with access to a range of functions, including the ability to;
✓ Download an up to date Letter of Eligibility (Coming Soon)
✓ Apply and pay for new certificates
✓ View current limit usage
✓ Get job specific quotes
✓ Download an up to date jobs list (Coming Soon)
Our team will be happy to answer any questions you have regarding the portal and how to use it.
Need more information? Download our latest brochure here.
Below all our FAQs on Domestic Building Insurance (DBI)
Why should you choose Assetinsure?
Assetinsure has been a provider of DBI in Victoria since 2016 and is the only private insurer offering the product in Victoria. We have the systems and support structure in place to provide superior service. Our Underwriters are always available to make a builders experience as quick and seamless as possible.
How is Assetinsure different from competitors?
We are a smaller and nimbler organisation for the benefit of our customers. We prioritise quick and efficient service and obtaining the best commercial outcomes for our clients.
Do you insure multi-unit sites?
Yes, however, if it is for more than 2 units on a site we require you to submit plans and documentation first for our perusal.
How long will eligibility renewals take?
A review typically takes a maximum of 2 weeks from when all required information is received.
How long do job approvals take?
In cases where a job isn’t auto approved, the review typically takes 3 business days or less from when all required information is received.
Can I get increase to the limits we have been given?
Limits are reviewed on a case by case basis.
How do I obtain my certificates and how long will it take?
Once we have issued your eligibility, you will receive log on details to our online portal, where you will be able to issue any certificates required.
Do I have to use a broker with Assetinsure?
We have many broker partners however unlike our competitors you can get insurance directly with us or through a Broker if you choose.
What are Assetinsure’s opening hours?
Our underwriters are available to take your call from 8:30am – 5:00pm Monday – Friday. You can call us on 1800 316 631 / 03 9112 1029 or email firstname.lastname@example.org.
When can I make a claim?
Domestic Building Insurance covers non-completed and defective work that is unable to be rectified due to the builder dying, disappearing or becoming insolvent, or in the case of a company, that ceases to exist or becomes insolvent. For more clams information please see our claims page or email email@example.com.