NSW off-the-plan apartment buyers soon able to claim on insurance defects arising within first 10 years

Buyers of off-the-plan high-rise apartments in NSW might soon be able to claim on insurance for any defects arising within the first 10 years in a massive game-changer for the apartments sector.

Unlike for all other new homes, there’s been no home warranty insurance available for apartment developments over three storeys in height anywhere in Australia for the past 18 years.

But now, after the NSW government appointed a building commissioner and gave him unprecedented legal powers to check up on buildings as well as introducing a new digital tool to rate risks on new projects, insurers are now queuing up to offer insurance.

Content retrieved from: https://www.domain.com.au/news/nsw-off-the-plan-apartment-buyers-soon-able-to-claim-on-insurance-defects-arising-within-first-10-years-1090160/.