What does it cost?
Generally, the cost of a Guarantee is less than 1% of the total build or renovation cost. The tiered pricing structure means you get the right level of protection for your build based on the value of your Building Contract.
Halo 10-Year Residential Guarantee Fees
Building Contract Value (incl. 15% GST) | Min.Rate | Min.Premium (excl. GST) | Price Range (excl. GST) |
|---|---|---|---|
$0 – $200,000 | 0.42% | $600.00 | $600.00 – $840.00 |
$200,001 to $400,000 | 0.32% | $840.00 | $840.00 – $1,280.00 |
$400,001 to $600,000 | 0.26% | $1,280.00 | $1,280.00 – $1,560.00 |
$600,001 to $800,000 | 0.22% | $1,560.00 | $1,560.00 – $1,760.00 |
$800,001 to $1,000,000 | 0.19% | $1,760.00 | $1,760.00 – $1,900.00 |
$1,000,001 to $1,500,000 | 0.15% | $1,900.00 | $1,900.00 – $2,250.00 |
$1,500,001 to $2,000,000 | 0.13% | $2,250.00 | $2,250.00 – $2,600.00 |
over $2,000,001 | Price on Application | Price on Application | Price on Application |
The cost of the Guarantee is calculated by applying the “minimum rate” to the building contract value based on the band in which it falls, subject to minimum premium applicable for the band. Additional Guarantee Levy = $50.00+GST per guarantee.