Several home builders in Victoria have been failing to take out the necessary insurance before taking deposits, exposing customers to thousands of dollars in potential losses.
The Age has confirmed several examples of builders being fined for insurance breaches and obtained contracts showing a major home builder delayed taking out insurance on two occasions.
At least five builders have been fined by the Victorian Building Authority for serious breaches of insurance requirements and other failures since 2021. One of the builders was also suspended for three months and two were stripped of their registration….
Read the full article at: https://www.theage.com.au/politics/victoria/regulators-failed-reform-needed-porter-davis-victims-say-20230416-p5d0rf.html