About HBCF | Home Building Compensation Fund (HBCF) | Master Builders Insurance Brokers (MBIB) | Homeowners Insurance | Home Warranty Insurance New South Wales

What is the Home Building Compensation Fund (HBCF)?

HBCF, more commonly known as Home Warranty or Home Owner Insurance, covers the homeowner (and subsequent owners) where the contracted building work is incomplete or defective and the builder has either died, disappeared, become insolvent, or the licence of the builder is suspended for failure to comply with a compensation order in favour of the homeowner made by a Court or the NSW Civil & Administrative Tribunal (NCAT).

The cover lasts up to 6 years from completion of the residential building work or termination of the residential building contract (6 years for major defects and 2 years for all other defects).

For more information, visit the NSW government websites:

Builders are required to obtain a Certificate of Insurance under the HBCF scheme for all residential building projects, where the contract price is over $20,000.

It is the builders’ responsibility to purchase a Certificate of Insurance for the building project on behalf of the homeowner.

As an icare HBCF distributor, we can guide you through the HBCF’s eligibility assessment process and assist you in managing your eligibility limit. From there, our specialist team proactively support your ongoing eligibility limit management and certificate issuing needs so you can keep on building in the residential market.