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AAP

Holly Hales

Building insurance costs soar after companies go under

Insurance

Porter Davis Homes was one of several big builders to collapse and leave customers in limbo. (Jono Searle/AAP PHOTOS)

Homebuilders will be slugged with a huge rise in insurance costs after the collapse of several construction companies triggered record claims.

Domestic building insurance would increase by 53 per cent from August, the Victorian Managed Insurance Authority said on Thursday

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