Building a home, or an extension to your existing home, is a major investment of money, time and in many cases emotion.

In recent years, South Australia has experienced an increase in residential building activity, as well as the emergence of a number of consumer protection challenges such as uninsured building works.

The State Government is conducting a review of Building Indemnity Insurance – the compulsory insurance that a builder must take out when performing major building work on homes – to ensure consumers have some protection and peace of mind when building a home.

The insurance protects consumers from losses if the builder dies, disappears or becomes insolvent before finishing the work, or for defective work on a completed home, for up to five years post completion.

Interested parties are invited to have their say on Building Indemnity Insurance and related consumer protections to ensure South Australians are protected when building a house.

The aims of the review are to develop a long-term solution for the administrative framework for Building Indemnity Insurance by the South Australian Government, and to review and strengthen consumer protections.

This includes examining whether existing insurance cover is fit for purpose, by looking at factors such as what is covered, the minimum thresholds and maximum cover limits, and addressing gaps in consumer protection and consumer education.

The public consultation period for the review is currently open. You can provide your feedback in one or more of the following ways via the yourSAy page:

• Complete the Survey
• Make a Submission
• Register for a one-on-one interview (registrations close 14 March)

Builders, brokers, and councils can also register for a stakeholder workshop by emailing BIIReview@sa.gov.au

Closing dates for registration for the workshops are as follows:

• Builders and developers (Thursday, 14 March): registrations closed
• Brokers (Wednesday, 20 March): registrations close 18 March, some spots available
• Local government  (Thursday 21 March): Registrations close 19 March, almost full

The survey and submissions will close on 25 March 2024.