How it works
The Master Builders Fidelity Fund is designed to protect and support both builders and homeowners by offering financial security in the event of non-completion of building projects.
The coverage process
There are three key stages involved: first a builder must apply and be approved to become a member of the Fund, based on eligibility criteria. Then, they must apply for Fidelity Fund Certificates for each residential building project they are working on. Then, in the event of the builder’s death, disappearance or insolvency, a client may submit a claim for assessment. Below is a full breakdown of the steps in the process.
Step 1
Builder applies to become a member of the Fund
Step 2
Builder is assessed against eligibility criteria
Step 3
Builder is approved or denied
Step 4
If approved, Builder applies for Fidelity Fund Certificate for each individual project and makes payment for issue of certificates
Step 5
In the event of the builder’s death, disappearance or business insolvency, and after exhausting all other relevant rights of action and legal remedies, the client may lodge a claim with the Fund within 180 days*
Step 6
The Master Builders Fidelity Fund makes an assessment, which may take up to 90 days
Step 7
If approved, the Fund will provide coverage for the client up to $200,000*
Get started now with your coverage
If you're a builder seeking home warranty coverage, get in touch today.