BSA (Qld) Builders Insurance Claim experience?

[Garry K]

Just been notified that the builder that built an IP for us at Victoria Point has gone broke. IP completed 6 months ago and currently tenanted.

And a recent inspection revealed many damaged/cracked roof tiles that the REA says will be covered by the BSA Builders Insurance. Just need to get a claim into them etc. Temporarily sealed the cracks with silicon in the mean time.

Any one had experience with these claims?

I have checked out their website at

BSA

which seems reassuring.


GarryK

 

[alexlee]

BSA Claim - Gold Coast

Yes, I've made a claim with the BSA Qld.

I have a 1 bed unit on the Gold Coast that was completed in early 2003. Around late 2004 the windows leaked during rainstorms. Took months to badger the Body corp into getting a builder to inspect it, and he found that it was because part of the room was missing a waterproof membrane. A few more months to serve the builder with a notice to rectify (builders have to guarantee their work for 6 years after completion).

Builder didn't respond, and the building company was deregistered or something. However, the builder had a valid policy with the BSA at the time. Finally put through a claim to the BSA. Took a few more months, but the BSA finally sent an inspector and got a quote from a builder. Finally got the problem rectified in October 2005.

The whole process took more than a year. I was overseas at the time so I had to do everything through body corp and my managing agents. I’m currently claiming loss of rent from body corp insurance (since it was due to the building I can’t claim landlords insurance) but the claim is delayed due to the recent storms.

Bottom line: the BSA is an insurance company. You have to chase them, though they seem to be pretty willing to pay out once their paperwork is complete. The rectification cost (according to their quote) about $15k, so I’m happy, and body corp insurance should give me back all the lost rent.

It also taught me to ALWAYS ask for a builder’s BSA insurance if I ever need work done in the future. Also: keep badgering the body corp and agents to follow up on your claim. Especially if you're an out of state owner (or in my case, out of country owner).
Alex

 

[Garry K]

Thanks Alex.

Sounds a reasonable process, but will need to keep following up.

GarryK

 

[grachez52]

BSA Claim

Alexlee,

Have you received the rent you have been chasing

If so can you advise the correct method to claim

Cheers

Graahez

Yes, I've made a claim with the BSA Qld.

I have a 1 bed unit on the Gold Coast that was completed in early 2003. Around late 2004 the windows leaked during rainstorms. Took months to badger the Body corp into getting a builder to inspect it, and he found that it was because part of the room was missing a waterproof membrane. A few more months to serve the builder with a notice to rectify (builders have to guarantee their work for 6 years after completion).

Builder didn't respond, and the building company was deregistered or something. However, the builder had a valid policy with the BSA at the time. Finally put through a claim to the BSA. Took a few more months, but the BSA finally sent an inspector and got a quote from a builder. Finally got the problem rectified in October 2005.

The whole process took more than a year. I was overseas at the time so I had to do everything through body corp and my managing agents. I’m currently claiming loss of rent from body corp insurance (since it was due to the building I can’t claim landlords insurance) but the claim is delayed due to the recent storms.

Bottom line: the BSA is an insurance company. You have to chase them, though they seem to be pretty willing to pay out once their paperwork is complete. The rectification cost (according to their quote) about $15k, so I’m happy, and body corp insurance should give me back all the lost rent.

It also taught me to ALWAYS ask for a builder’s BSA insurance if I ever need work done in the future. Also: keep badgering the body corp and agents to follow up on your claim. Especially if you're an out of state owner (or in my case, out of country owner).
Alex

 

[wassie]

THE BSA scheme is a mutual liability scheme that is effectively a government run insurance scheme. Whilst its not perfect, be thankful you are dealing with them as the QLD scheme is by far and away the best in the country in terms of the protections it offers consumers.

Nearly all of the other states are covered by home idemnity insurance requirements provided by insurance companies and can be a complete nightmare to deal with in the event of a claim.

IMHO these so called 'Home Warranty" insurance policies are a complete scam and scourge on the domestic building industry. Just ask anyone who has ever been affected in NSW http://smh.domain.com.au/real-estate-news/insurance-scheme-ridiculed-as-junk-20100607-xpma.html