Home Building Compensation Fund (HBCF) insurance.

(HBCF) insurance, also known as home warranty insurance, is important for homeowners considering renovation for several reasons, check out a few listed below 👇 :

1. Protection Against Defective Work:

It provides financial protection against loss or damage resulting from defective or incomplete work by a builder or contractor.

2. Builder Insolvency or Disappearance:

In case the builder or contractor becomes insolvent, dies, or disappears, HBCF insurance covers the cost of completing or fixing the work.

3. Legal Requirement:

In many places, it's a legal requirement for builders to obtain HBCF insurance for projects over a certain value, ensuring that the homeowner is protected.

4. Peace of Mind:

It offers peace of mind to homeowners, knowing they have a safety net if something goes wrong with the construction or renovation process.

5. Resale Value:

Homes with proper HBCF insurance are more attractive to potential buyers, as the insurance can often be transferred to the new owner.

It's always a good idea to check local regulations and requirements regarding HBCF insurance when planning a home renovation.