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Fidelity Fund Cover

The Master Builder’s Fidelity Fund was established in 2002 and operates under requirements as set out in the Building Act 2004 and is managed by an independent Board of Trustees.

When do you need Fidelity Fund Cover?

It is a requirement under the Building Act 2004 that a licensed builder must obtain complying residential building work insurance or a Fidelity Fund certificate from an approved Fidelity Fund scheme before commencing any building work over $12,000 that is not exempt from requiring protection under this Act.

Certificates are required for:

  • Construction of a class 1 building (detached house) or class 2 building (town house, units, apartments) up to 3 storeys in height; and
  • Certain alterations or additions to existing residence where the work is valued at $12,000 or more of a structural nature.

Certificates are not required for class 10 structures such as swimming pools, fences, landscaping, mailboxes or garages (unless structurally adjunct to the class 1 structure). The appointed Building Certifier may assist if you are unsure about these requirements. Certificates are also not required for Federal or Government projects.

When Can a Claim be Made?

Disappearance or death, during the contract period. A claim may also be made for defects that come to light after completion of the project in the Statutory Warranty period if the builder has died, disappeared or suffered an insolvency event.

The legislation provides that a Fidelity Fund certificate or home owners warranty insurance policy provides maximum coverage of $85,000. If no work has been completed, and only a deposit paid, the maximum that you can claim is $10,000. A Fidelity Fund certificate requires a claim to be made within 90 days.

A Fidelity Fund certificate is successive in title and remains valid for a period of five years after completion (or occupation) of the project in the event the residence is sold within this time.

For enquiries

Marcia Douch

Fidelity Fund Manager

Call (02) 6175 5900