If you own a free standing home in Devonport, TAS 7310, understanding what you should be paying for home and contents insurance is one of the smartest financial moves you can make. Premiums vary enormously depending on your property's construction, location, and the level of cover you choose — and without a benchmark, it's easy to overpay without realising it.
This article breaks down a real insurance quote for a 3-bedroom, 1-bathroom brick veneer home in Devonport, comparing it against local, state, and national data so you can see exactly where it sits in the market.
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Is This Quote Fair?
The annual premium for this property came in at $1,528 per year (or roughly $146 per month), covering both building (insured at $436,000) and contents (insured at $119,000), each with a $1,000 excess.
Our pricing engine has rated this quote as FAIR — Around Average, and the numbers back that up. The quote sits comfortably within the middle range of what Devonport homeowners are paying, landing just below the suburb average of $1,644/yr and the suburb median of $1,655/yr. That means this homeowner is paying slightly less than the typical Devonport property, which is a reasonable outcome for a well-understood, standard construction home.
It's worth noting that "fair" doesn't necessarily mean "the best available." The 25th percentile for Devonport sits at $1,182/yr, which tells us that roughly a quarter of comparable homes in the area are being insured for meaningfully less. There's a real possibility that shopping around could bring this premium down further — potentially saving $300 or more annually.
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How Devonport Compares
One of the most striking takeaways from this data is just how affordable Devonport is relative to the broader insurance market. Here's how the numbers stack up:
| Benchmark | Annual Premium |
|---|---|
| This quote | $1,528 |
| Devonport suburb average | $1,644 |
| Devonport suburb median | $1,655 |
| Latrobe LGA average | $2,263 |
| TAS state average | $2,814 |
| TAS state median | $2,326 |
| National average | $5,347 |
| National median | $2,764 |
Devonport sits well below both the Tasmanian state average and the national average, which is a significant advantage for local homeowners. The national average of $5,347/yr is more than three times what this Devonport property is paying — a reflection of the elevated premiums seen in cyclone-prone and flood-affected regions across Queensland, Western Australia, and parts of New South Wales.
Even within Tasmania, Devonport compares favourably. The LGA average for Latrobe (Tas.) sits at $2,263/yr, and the state-wide average climbs to $2,814/yr — both considerably higher than the suburb median. You can explore the full breakdown of Devonport suburb insurance statistics to see how your own property might compare.
The interquartile range for Devonport (from $1,182 at the 25th percentile to $2,023 at the 75th percentile) shows that there's still meaningful variation within the suburb itself, underscoring the value of comparing multiple quotes rather than accepting the first offer.
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Property Features That Affect Your Premium
Every property is different, and insurers price risk based on a detailed assessment of construction materials, age, size, and local hazards. Here's how the key features of this Devonport home influence its premium:
Brick Veneer Walls Brick veneer is generally viewed favourably by insurers. It offers solid fire resistance and reasonable structural durability, which typically translates to more competitive premiums compared to weatherboard or fibre cement cladding.
Tiled Roof Terracotta or concrete tiles are a standard, well-understood roofing material in Australia. While heavier than Colorbond or corrugated iron, tiles are durable and perform well in moderate weather conditions — a positive factor for insurers.
Stump Foundation This is worth paying attention to. Homes on stumps (also known as pier foundations) are common in older Australian properties, particularly those built in the 1960s and 70s. Stumps can be susceptible to subsidence, timber rot, or movement over time, which some insurers factor into their risk assessments. Regular inspection of your stumps is advisable.
Built in 1970 At over 50 years old, this home falls into the category where insurers may apply age-related loading. Older homes can carry higher risks associated with ageing plumbing, electrical wiring, and structural components. Ensuring the property is well-maintained and that any renovations meet current building codes can help keep premiums in check.
130 sqm Building Size At 130 square metres, this is a modest-sized home, which contributes to a proportionate building sum insured of $436,000. Ensuring your sum insured accurately reflects the cost to rebuild (not the market value) is critical — underinsurance is one of the most common and costly mistakes homeowners make.
No Pool, Solar Panels, or Ducted Climate Control The absence of these features simplifies the risk profile and removes several potential premium add-ons. Pools, in particular, can attract liability-related loadings, so their absence is a minor saving.
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Tips for Homeowners in Devonport
1. Review your sum insured regularly Building costs have risen sharply in recent years. The $436,000 building sum insured on this property should be reviewed annually to ensure it still reflects current rebuild costs in Tasmania. Use a building calculator or speak with a local builder to validate your figure.
2. Compare quotes before renewal With a 25th percentile of $1,182/yr in Devonport, there's a reasonable chance that a different insurer could offer a lower premium for similar cover. Loyalty doesn't always pay — get a new quote at CoverClub before your renewal date each year.
3. Inspect and maintain your stump foundation Homes on stumps require periodic inspection to check for rot, pest damage, or movement. Proactively maintaining your foundation not only protects the structure but may also avoid claim complications down the track.
4. Check your contents cover reflects reality The $119,000 contents sum insured is a meaningful figure. Take the time to do a room-by-room audit of your possessions — furniture, appliances, clothing, tools, and electronics all add up quickly. Both underinsurance and overinsurance cost you money in different ways.
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Compare Your Home Insurance Today
Whether you're renewing your existing policy or taking out cover for the first time, comparing quotes is the single most effective way to make sure you're getting value. CoverClub makes it easy for Australian homeowners to benchmark their premiums against real data from their suburb and state.
Get a home insurance quote for your Devonport property and see how your premium stacks up in seconds.