Covers you for:

Either

-Loss of Deposit
-Up to 5% of the Contract Price to a maximum of $25,000, if the permanent work hasn’t started.

Or

-Non-completion
-Up to 10% of the Contract Price to a maximum of $40,000 if the house or work isn’t finished.

Plus

-Defect in Materials* and Workmanship and Structural Defect
-Protection against any defects in workmanship and materials*, or structural elements, for two years after completion of the building.

Plus

-Structural Cover
-Cover for defects in specific structural elements of the building work, after expiry of the Materials, Workmanship and Structural cover, for a total cover of ten years from acceptance of the Guarantee.

Including

-Rot and Fungal Decay
-Cover for properties where the design, materials and construction achieve a score of 12 or less based on the E2/AS1 Risk Matrix**.

Maximum total aggregate payout for all cover is $500,000 including GST.

.
* Materials which have a current certificate of accreditation or product certificate issued under the Building Act, or which, in Master Build Services’ opinion, comply with an appropriate Australian or New Zealand standard.
** The E2AS1 is the Department of Building and Housing’s Acceptable Solution for Building Code clause E2 External Moisture. It incorporates a Risk Matrix which is a design tool that allows designers to analyse the weather tightness risk of a particular building design.