Over .5% of the average house building cost is in the Insurance Policies. With a decreasing amount of Insurance Companies will to work with the building industry over the last decade, Builders can find it difficult to maintain a current policy. Owner Builders are required a 7 year warranty insurance policy on all structural building works over $12,000. Builders are required to provide a Contract works Policy for each proposed dwelling prior to works being started. For all your Building & Construction Insurance enquiries contact the following national and regional suppliers.