If you own a free standing home in Camira, QLD 4300, you're probably curious about what a fair home insurance premium looks like — and whether you're paying too much, too little, or just about right. This article breaks down a real building insurance quote for a five-bedroom brick veneer home in Camira, comparing it against local, state, and national benchmarks to help you make a more informed decision.
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Is This Quote Fair?
The quote in question comes in at $1,290 per year (or $126/month) for building-only cover, with a sum insured of $651,840 and a building excess of $5,000. Based on CoverClub's pricing data, this quote is rated CHEAP — sitting well below the suburb average.
To put that into perspective, the average building insurance premium across Camira is $3,073 per year, and the median sits even higher at $3,307. That means this quote is roughly 58% cheaper than the suburb average — a substantial saving of over $1,700 annually.
It's worth noting that a higher excess ($5,000 for building) is one factor that can bring premiums down. In the event of a claim, you'd need to cover more out of pocket before your insurer steps in. That's a reasonable trade-off for many homeowners who have the financial buffer to absorb a larger excess, but it's something to factor into your overall assessment.
That said, even accounting for the elevated excess, this premium is competitive by any measure. If you're shopping around in Camira, this represents a strong benchmark to aim for.
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How Camira Compares
Understanding where Camira sits relative to the broader market helps contextualise just how significant this quote is. Here's a snapshot:
| Benchmark | Average Premium |
|---|---|
| This quote | $1,290/yr |
| Camira (suburb average) | $3,073/yr |
| Camira (suburb median) | $3,307/yr |
| Camira (25th percentile) | $2,228/yr |
| Ipswich LGA average | $3,034/yr |
| QLD state average | $4,547/yr |
| QLD state median | $3,931/yr |
| National average | $2,965/yr |
| National median | $2,716/yr |
A few things stand out here. First, Queensland's average premium of $4,547 is significantly higher than the national average of $2,965 — reflecting the elevated risk profile of many parts of the state, driven by cyclones, flooding, and severe storms. Camira itself, sitting in the Ipswich LGA, is not immune to weather-related risks, particularly flooding from the Bremer River catchment area.
Interestingly, Camira's suburb average of $3,073 is actually below the Queensland state average, suggesting the suburb is considered a relatively lower-risk pocket within the broader QLD landscape. Still, it's well above the national median — a reminder that Queensland homeowners generally pay a premium for the privilege of the Queensland lifestyle.
This quote, at $1,290, sits dramatically below even the suburb's 25th percentile of $2,228, meaning fewer than one in four Camira homeowners are paying this little. That's genuinely impressive.
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Property Features That Affect Your Premium
Several characteristics of this property likely contribute to its competitive premium:
Brick Veneer Construction Brick veneer is generally regarded favourably by insurers. It offers good fire resistance and durability compared to timber-framed or cladded homes, which can translate to lower premiums. It's one of the most common wall types in Australian suburban homes built from the 1970s through to the 1990s.
Tile Roof A tiled roof is another tick in the insurer's box. Tiles are durable, fire-resistant, and perform well in moderate weather conditions. They're typically viewed as lower risk than corrugated iron or Colorbond in non-cyclone zones, though they can be more expensive to repair if damaged.
Slab Foundation A concrete slab foundation is standard for homes of this era and generally presents no additional risk flags for insurers. It avoids the complications that can arise with elevated stumped or piled foundations, particularly in flood-prone areas.
Construction Year: 1987 Homes built in the late 1980s are generally well-regarded — past the era of some older building material concerns (like asbestos in pre-1980s homes) but old enough that some systems (plumbing, electrical) may be approaching the end of their serviceable life. Insurers typically don't penalise homes of this age heavily, but it's worth ensuring your wiring and plumbing are in good condition.
No Pool, Solar Panels, or Ducted Climate Control Each of these features can add complexity and cost to a policy. The absence of all three keeps the risk profile clean and the premium lean.
Building Size: 130 sqm At 130 square metres, this is a relatively modest footprint for a five-bedroom home, which likely keeps the replacement cost — and therefore the sum insured — at a manageable level relative to larger homes.
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Tips for Homeowners in Camira
1. Review your sum insured regularly Construction costs have risen sharply in recent years across Queensland. A sum insured of $651,840 for a 130 sqm brick veneer home is worth revisiting annually to ensure it still reflects the true cost of rebuilding — not just the market value of the land and structure combined.
2. Understand your flood risk Parts of the Ipswich region have experienced significant flooding, most notably in 2011 and 2022. While Camira sits on higher ground compared to some neighbouring suburbs, it's worth checking whether your policy includes flood cover and whether your specific address falls within a flood zone. Use the Queensland Government's flood mapping tools to verify.
3. Consider whether your excess is right for you This quote carries a $5,000 building excess — higher than many standard policies. If you have the savings to cover this in a worst-case scenario, the premium saving is well worth it. If not, it may be worth comparing quotes with a lower excess to find the right balance.
4. Don't auto-renew without comparing Queensland homeowners are among the most heavily impacted by insurance premium increases in Australia. Even if your current insurer has treated you well, comparing quotes at renewal time through a platform like CoverClub takes minutes and could save you hundreds — or in this case, potentially thousands — of dollars per year.
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Find Your Own Competitive Quote
Whether you're a long-term Camira resident or new to the area, it pays to know what the market looks like before you commit to a policy. CoverClub makes it easy to compare home insurance quotes tailored to your property and circumstances. Get a quote today and see how your premium stacks up against the Camira suburb average, the Queensland state benchmark, and the national picture.