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Insurance schedule tracker for builders: what to track, when, and how

How Australian residential builders track multiple insurance policies, renewal dates, and certificates of currency to stay compliant and avoid licence suspension.

By Dan Waring. Last updated 11 May 2026. Verified 11 May 2026.

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TL;DR

A residential builder typically carries five to seven insurance policies with different renewal dates, different insurers, and different compliance triggers (per-project certificates, annual renewals, regulator notifications). Missing any one of them can suspend your licence, void a contract, or leave an open site uninsured. The overhead is an afternoon to set up a tracker, then two hours a year to maintain it. The cost of a lapse is your licence, your project, and potentially six-figure personal liability. Keep a single spreadsheet (or calendar) with every policy, expiry date, insurer, and the notification lead time you need to renew. Review it the first Monday of every month.

When you do this

Set up the tracker when you first go into business or when you pick up this article. After that, it is a monthly five-minute check and an annual renewal pass. The trigger events that force an unplanned check:

  • Signing a new building contract (need a current home warranty certificate before taking any money)
  • Taking on a new employee or labour-hire worker (workers compensation cover needs to be current and adequate)
  • A subcontractor starting work on site (their certificate of currency must be on file before site access)
  • A lender requesting proof of cover (construction finance routinely requires certificates of currency)
  • Licence renewal (most regulators require proof of current PI and public liability at renewal)

Who is involved

The builder (sole trader or director). Insurance brokers for queries and renewals. The relevant state regulator if a lapse has occurred (QBCC in QLD, VBA/BPC in VIC, Building Commission NSW in NSW). Subcontractors for their own certificates of currency.

Steps

1. List every policy you hold

Start with the full universe of policies a residential builder typically needs:

Policy typeWho must hold itThreshold / trigger
Public liabilityBuilder (head contractor)Mandatory; minimum $5M (NSW, VIC), $20M (QLD). Most projects demand $10M to $20M minimum. (verified 2026-05-11)
Workers compensationAny builder with employees or deemed workersMandatory in every state when you employ staff. Penalties apply for each day uninsured. (verified 2026-05-11)
Construction works (contract works)Builder, per project or annualNot universally mandatory but required by most lenders and most standard form contracts.
Home warranty (HBCF/DBI/QHWS)Builder, per projectMandatory above contract thresholds: NSW $20,000 (verified 2026-05-11, icare); VIC $16,000 rising to $20,000 from July 2026 (verified 2026-05-11, Consumer Affairs Victoria); QLD $3,300 (verified 2026-05-11, QBCC). Certificate must be issued before taking any money from the homeowner.
Professional indemnityBuilder if providing design, specification, or professional advice; mandatory in NSW from 1 July 2026 under the DBP Act for design practitionersClaims-made policy; requires annual renewal and run-off cover when retiring.
Plant and equipmentBuilder if owning significant plant (excavators, cranes, elevated work platforms)Covers theft and damage to owned plant.
Commercial vehicle / fleetAny business vehicle used for workThird-party property minimum; comprehensive standard practice.

Add any policy on your current schedule that isn’t in this list.

2. Build the tracker

A single spreadsheet with one row per policy is sufficient. Required columns:

ColumnWhat to put in it
Policy typee.g. “Public Liability”
Insurer / brokere.g. “MBIB via Steadfast”
Policy numberExact number from the schedule
Insured entity nameMust match your licence and contracts exactly
Renewal dateDay and month
Premium (AUD ex-GST)Last year’s amount, helps budget
Lead time to renewHow many days before expiry your broker needs
Minimum cover requiredThe regulatory or contract minimum for this policy type
Current cover limitWhat you actually hold
Certificate of currency on fileYes/No, with file path or folder link
NotesState-specific conditions, project-specific certs, etc.

For home warranty insurance, add one row per active project (not one row per policy year), because each certificate is project-specific. Track project address, contract value, certificate number, and expiry.

3. Set renewal reminders

Set calendar reminders at three intervals before each annual renewal date:

  • 90 days out: review cover adequacy. Has your turnover or project value grown? Is the current limit still enough?
  • 30 days out: contact broker to initiate renewal. Broker needs time to market to underwriters, especially for PI and construction works.
  • 7 days out: confirm renewed certificate of currency is in your inbox and the insured entity name is correct.

For claims-made policies (PI and some public liability policies): note the retroactive date. Switching insurers can leave a gap if the new insurer’s retroactive date is later than the first insurer’s. Confirm continuity with your broker.

4. Collect subcontractor certificates

Every subcontractor must provide a current certificate of currency for their public liability cover before setting foot on site (verified 2026-05-11, HIA Insurance Services). Save certificates in a folder named by subcontractor. Check the expiry date. A certificate with an expiry date during your project period must be renewed and refiled before expiry.

Minimum public liability for subbies on a residential site: $10M is the standard ask; some head contracts require $20M. Match your sub-contractor agreement to the head contract requirement.

5. Review on the first Monday of each month

Five-minute check: open the tracker. Scan for anything expiring in the next 60 days. Act on anything in the 30-day lead window. Confirm any subcontractor certs for new starts that month are on file.

This monthly habit is the only process you need. Most lapses happen because builders assume the insurer will chase them.

Documents needed

  • Insurance schedule (document your insurer provides showing all policy details)
  • Certificate of currency for each policy (separate document showing current cover; this is what you hand to lenders, clients, and project managers)
  • Subcontractor insurance register (list of every subcontractor with their certificate of currency and expiry date)
  • For home warranty: the per-project certificate issued before the contract deposit is taken

Common holds

Name mismatch. The insured entity on the certificate does not match the licensed entity. This is the most common reason lenders return finance files and the most common reason regulators reject compliance checks. If your licence is in your company name, your certificates must match that name exactly.

Lapsed between renewal and project start. You hold an annual public liability policy but it lapses before a new project starts. The new contract is uninsured from day one. A project-specific construction works policy issued at contract execution avoids this.

PI retroactive date gap. You switch PI insurers at renewal. The new insurer’s retroactive date is the start of the new policy, not the start of your first ever PI policy. Claims arising from work done before the retroactive date are not covered. Request retroactive date continuity from the new insurer; expect a loading if you have prior claims.

Home warranty certificate taken out late. You take a deposit before the HBCF, DBI, or QHWS certificate is issued. In NSW this creates personal liability exposure and invalidates the home warranty cover for that project. The law requires the certificate to be in force before any money changes hands (verified 2026-05-11, icare).

Workers compensation inadequate for payroll growth. You renew based on last year’s declared wages, but your payroll has grown. The insurer can adjust the premium at audit, and you may have been under-insured during the year.

Subcontractor cover expired mid-project. A subbie’s certificate expires in month three of a six-month project. You did not track the expiry. They work on site uninsured. If they injure a third party during this window, the gap in their cover may push liability back to you.

Try it

References

See also

Last updated: 2026-05-11. Verified: 2026-05-11. Quarterly review for currency.

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