Bongaree is a relaxed coastal suburb sitting on Bribie Island in South East Queensland — a popular spot for families and sea-changers drawn to its waterfront lifestyle and relative affordability. For owners of a free standing home in this area, understanding what you should be paying for home and contents insurance is just as important as finding the right property. This article breaks down a real insurance quote for a four-bedroom, two-bathroom brick veneer home in Bongaree (postcode 4507) and puts the numbers in context so you can make a more informed decision.
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Is This Quote Fair?
The quote in question comes in at $3,485 per year (or $334 per month) for combined home and contents cover, with a building sum insured of $551,000 and contents valued at $50,000. The building excess is $1,000 and the contents excess $500.
Our price rating for this quote is FAIR — Around Average, which is a reasonable outcome for a property of this type in this location. It's not the cheapest on the market, but it's also well within a sensible range when you consider the suburb's risk profile and the level of cover being provided.
A "fair" rating doesn't mean you can't do better — it simply means this quote is competitive relative to what most similar homeowners in Bongaree are paying. Whether it's the right price for your situation depends on the insurer's policy terms, inclusions, and how the excess structure suits your needs.
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How Bongaree Compares
Putting this quote into a broader pricing context reveals some useful insights. Based on 88 quotes collected for Bongaree (QLD 4507):
| Benchmark | Annual Premium |
|---|---|
| This Quote | $3,485 |
| Suburb Average | $3,582 |
| Suburb Median | $2,828 |
| Suburb 25th Percentile | $2,160 |
| Suburb 75th Percentile | $3,872 |
| QLD State Average | $9,129 |
| QLD State Median | $3,903 |
| National Average | $5,347 |
| National Median | $2,764 |
| LGA Average (Sunshine Coast) | $7,249 |
At $3,485, this quote sits just below the suburb average of $3,582 and comfortably within the suburb's interquartile range ($2,160–$3,872). That's a solid indicator that the pricing is reasonable for the area.
What really stands out, though, is how much lower Bongaree's premiums are compared to the broader Queensland state average of $9,129 and the Sunshine Coast LGA average of $7,249. This is largely because Bongaree sits outside designated cyclone risk zones — a significant factor that drives up premiums dramatically across much of Queensland, particularly in northern and coastal areas.
Compared to the national average of $5,347, this quote is also well below the mark, reinforcing that Bongaree represents a relatively affordable pocket of Queensland for home insurance purposes. That said, the suburb median of $2,828 does suggest there are cheaper options available in the market — so it's worth shopping around.
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Property Features That Affect Your Premium
Several characteristics of this property influence how insurers assess and price the risk:
Brick Veneer Construction & Tile Roof Brick veneer walls paired with a tiled roof are generally viewed favourably by insurers. These materials offer solid resistance to fire and moderate weather events, and are among the most common construction types in Australian suburbs. This combination typically attracts more competitive premiums compared to timber-framed or steel-clad homes.
Concrete Slab Foundation A slab foundation is generally considered lower risk than a raised or suspended timber floor system, as it reduces exposure to moisture ingress and pest damage underneath the home. This is a positive factor for insurers assessing structural risk.
Timber and Laminate Flooring While attractive and popular in Australian homes, timber and laminate flooring can be more costly to replace or repair after water damage events compared to tiles. Insurers may factor this in when calculating contents and building replacement costs.
Solar Panels This property has solar panels installed, which are typically covered under building insurance as a fixed fixture. It's important to confirm with your insurer that your solar system is included in the building sum insured — and that the $551,000 figure accounts for the replacement cost of the panels.
Ducted Climate Control Ducted air conditioning systems are a significant built-in asset and add to the overall replacement cost of the home. Again, these should be captured within your building sum insured to avoid being underinsured in the event of a total loss.
No Pool, No Cyclone Risk The absence of a swimming pool removes a liability and maintenance risk that some insurers price in. More importantly, Bongaree falls outside Queensland's cyclone risk zone — a major reason why premiums here are substantially lower than in Far North Queensland or other coastal areas further north.
Building Size: 169 sqm At 169 square metres, this is a mid-sized family home. The $551,000 sum insured implies a rebuild cost of approximately $3,260 per square metre — broadly in line with current construction costs in South East Queensland, though it's always worth getting an independent building cost estimate to ensure you're not underinsured.
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Tips for Homeowners in Bongaree
1. Check Your Sum Insured Reflects Current Build Costs Construction costs have risen sharply in recent years across Australia. If your building sum insured hasn't been reviewed lately, there's a real risk of being underinsured. Use a building replacement cost calculator or speak with a quantity surveyor to validate the $551,000 figure against today's rebuild costs for a 169 sqm brick veneer home in South East Queensland.
2. Confirm Solar Panels and Ducted AC Are Covered Fixed assets like solar panels and ducted air conditioning systems should be explicitly included in your building cover. Review your Product Disclosure Statement (PDS) to confirm these are listed and that the sum insured is sufficient to replace them.
3. Shop Around — The Suburb Median Is $657 Lower Than This Quote The suburb median premium of $2,828 is meaningfully below this quote's $3,485. While policy inclusions, excess structures, and insurer reputation all matter, it's worth comparing quotes to see whether you can access similar cover at a lower price point. Even a modest saving compounds significantly over time.
4. Consider Your Excess Strategy This policy carries a $1,000 building excess and $500 contents excess. Opting for a higher voluntary excess can reduce your annual premium — a useful lever if you're confident you won't be making small claims. Conversely, if you'd struggle to cover a $1,000 excess out of pocket, it may be worth exploring options with a lower excess, even if the premium is slightly higher.
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Ready to Compare?
Whether you're renewing your existing policy or insuring a new purchase in Bongaree, it pays to see what the broader market has to offer. CoverClub makes it easy to compare home and contents insurance quotes side by side, so you can find cover that suits your property and your budget. Get a quote today and see how your premium stacks up against the suburb, state, and national benchmarks.