We at SHC Insurance Brokers are proud to announce we have been appointed by the NSW Government’s Home Building Compensation Fund (hbcf) to be one of 24 Insurance Brokers selected as a licensed broker distributor of Home Warranty Insurance in NSW.
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New to the service?
You can now apply for certificates of insurance for your jobs online and track your applications through to approval.
You can also mark an “open job”, when completed, as “closed” online so that you can free up your capacity for future jobs.
The self-service portal will allow you to see your information in the hbcf database, including your:
> eligibility assessment results
> certificate of eligibility
> next scheduled eligibility assessment
> summary of current projects (open job limits
> snapshot of your maximum job allowance capacity
> quote on future insurance premiums
> current certificates of insurance
SHC HBCF - HOW TO CALCULATE BROKER FEES
| ELIGIBILITY FEES (maximum) Excl GST |
| Fee | |
|---|---|
| New Eligibility Fees | $410 |
| Eligibility Review Fees | $410 |
| Builder Profile Change Fees | $410 |
| POLICY FEES: Broker fees are calculated on the base premium as per table below: |
| Rate | Fee | |
|---|---|---|
| C01 – New Single Dwelling | 16% | $150 |
| C02 – Multiple Dwellings Alterations/Additions – Structural | 16% | $150 |
| C03 – New Multiple Dwelling Construction < or = 3 Storeys | 7% | $150 |
| C04 – Single Dwelling Alterations/Additions – Structural | 16% | $150 |
| C04 – Single Dwelling Alterations/Additions – Structural ** Fee specific to Structural Bathroom renovations (incl waterproofing) | 16% | $150 |
| C05 – Swimming Pools | 16% | $150 |
| C06 – Single Dwelling Renovations – Non Structural | 16% | $150 |
| C07 – Other | N/A | N/A |
| C08 – Multiple Dwelling Renovations – Non Structural | 16% | $150 |
| C09 – New Duplex, Dual Occupancy, Triplex or Terrace Construction | 16% | $150 |
- An administration fee of $10 plus GST is charged for each project processed.
Example: What is the broker fee on a base premium of $2,000 for CO1 project ?
Calculation: $2,000 x 16% + $150+$10 = $480 (excl GST) $528 (incl GST) - The Broker fee is capped at a maximum of $7,000 + GST per project.
- Variations generating an increase in premium will attract a broker fee of 16% + GST on base premium.
- If a policy is cancelled the administration fee and broker fee will not be refunded.
- A cancellation administration fee of $50+ GST is applied if the project was originally processed through a different broker
