Insurance premiums for residential construction work in Queensland will increase by 3.5% from 1 July 2017. These increases are regretted however they are essential to ensure the continued sustainability of the Queensland Home Warranty Scheme.
All contractors who have paid premium on behalf of a consumer in the last 2 years will be sent information regarding the increase. A copy of the email being sent is attached for your information. Licensees without a registered email address will receive a letter.
The new premiums are payable on all contracts for residential construction work signed on or after 1 July 2017. Our advice to licensees negotiating a contract before this date is to tell the consumer about both amounts and the date the higher rate applies (1 July 2017).
To provide licensees with an opportunity to prepare for these changes we have produced a supporting webpage.
• the new 1 July premium tables
• responses for Frequently Ask Questions
• relevant contact details.