HALO BENEFITS – FOR THE HOMEOWNER We all know Halo is a no brainer, but how do we get this across to the Homeowner…
FEATURE —
FEATURE —
HOW TO APPLY FOR THE HALO 10 YEAR RESIDENTIAL GUARANTEE…
Here are some key points:
The application process is easy...
A promise of quality and a satisfying experience Download and print off the Application Form from the ToolShed (the members section of the website nzcb.nz The builder completes the application
Comprehensive Halo 10 year residential guarantee insurance Underwritten by
LLOYD’S OF LONDO N
The homeowner signs the application The builder e-mails the application form to application@bwrs.co.nz
Independent Underwriter Halo is independently insured at Lloyd’s of London. This means that in the unlikely event that something happens to the builder, or even to the association itself, the homeowner can be sure their guarantee is still valid.
Certified Builders are renowned for their integrity and quality of workmanship… BUT things can go wrong! No one can foresee the builder having an accident and not be able to complete the building contract. No one expects materials or subcontractors work to fall short of industry standards. Halo provides reassurance that even if things do go astray, the builder’s promise of quality still stands.
Cover includes: - Loss of deposit - Extra costs to complete the dwelling - Defects for 10 years - Alternative accommodation expenses - Professional fees
BrokerWeb Risk Services will process the application and e-mail the builder an invoice along with payment instructions The builder and the homeowner complete the Certificate of Practical Completion
Transferable to new homeowners
Underwritten at Lloyds of London
HELPFUL TIPS
POLICY DOCUMENTS
• Complete all of the questions
Who gets what? Once the premium has been received, BrokerWeb Risk Services will send out the policy documents:
• Make sure that the owners e-mail address is correct as this is where the policy documentation is sent.
The guarantee automatically transfers to any subsequent legal owners of the home, giving the homeowner a point of difference when they decide to sell.
Known and trusted worldwide, Lloyd’s has an excellent financial rating of “A+” (Strong) with Standards and Poors and “A” (Excellent) with A. M. Best. Lloyd’s of London is the oldest and one of the largest insurance underwriters globally underwriting insurance risks throughout the world.
The Homeowner will receive an e-mail with the policy wording and schedule.
• If you are using a Cost and Margin Contract, use the estimate for the Original Contract Price
The Builder will receive an e-mail with a copy of the policy schedule (showing details of the property insured) as well as a receipt for the premium paid and the “Sleep Easy” indemnity document.
• The same application form can be used for any type of contract (full, labour (full, labour only, alterations etc.)
The National Support Office would like to take this opportunity to remind members of the following:
Brittany Robertson Halo Guarantee Membership Support
• Halo is mandatory on all residential building work, whether a new build, an alteration project or a labour only job when a contract value is over $30,000 (incl GST). • The application should be completed when the contract is signed (before work starts).
IMPORTANT NOTE: Once the contracted work comes to an end, the builder will complete the Certificate of Practical Completion and have the homeowner sign it. This needs to be sent to BrokerWeb Risk Services so that the Date of Possession/Practical Completion and the Final Contract Price/Sum Insured can be noted on the policy and a new policy schedule sent to the builder and the homeowner.
www.nzcb.nz/members/10-year-guarantee/
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• There is currently no GST payable on Halo premiums as Lloyd’s of London is domiciled overseas, however, this is to change from the 1st of October with new offshore GST regulations.
If you have any questions regarding the Halo 10 Year Residential Guarantee, please contact Brittany Robertson at the National Support Office on 0800 237 843 or BrokerWeb Risk Services on 0800 644 444.
• An updated Halo Application Form is available on the ToolShed – please start using this new version as soon as possible. • The Halo brochures, wording, application form, premium breakdown and FAQ’s are available on the ToolShed. • Hardcopy brochures can be ordered through the online shop.
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