Covers you for:

-Loss of Deposit (Optional)
-Up to 5% of the Contract Price to a maximum of $15,000 if the building hasn’t started

Or

-Non-completion (Optional)
-Up to 10% of the Contract Price to a maximum of $30,000 if the house or work isn’t finished

Plus

-Materials, Workmanship and Structural
-You will be protected against any defects in workmanship and materials*, or structural elements, for 2 years after completion of the building underwritten by Master Build Services.

Plus

-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.

The Maximum total aggregate payment for all cover is $100,000 including GST
.

Note: The Standard Guarantee contains an option for opting out of the cover for Loss of Deposit and Non-completion
* 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.