Boom and Builders Insurance......

Discussion in 'The Buying/Selling Process' started by Withdean, 21st Sep, 2010.

  1. Withdean

    Withdean Member

    Joined:
    29th Sep, 2009
    Messages:
    6
    Location:
    Sydney, NSW
    Hi Guys

    My partner and I are about to sign a contract for a house and land package with Boom properties (anyone know anything about them, good or bad?) and AHB (likewise?).

    A couple of things that we're now wondering as we get deeper into the contract...

    Should we get insurance over and above the standard professional indemnity cover that the building company provide? i.e. something that will cover us against loss/insolvency before completion of the property? And if so does anyone know what insurance company we can go to for that (in VIC)?

    We've had a standard conveyancer look over both the house and the land contracts but construction is not her speciality, should we fork out the extra cash and get someone with a background in construction law to look over the house contract?

    Any info or advice that you can give us will be gratefully received.

    Cheers
    WD