Devonport is one of Tasmania's most liveable regional cities — a coastal hub on the Mersey River with a strong sense of community and a growing property market. For owners of free standing homes in the area, understanding what drives your home insurance premium is just as important as securing the right level of cover. This article breaks down a recent home and contents insurance quote for a four-bedroom, two-bathroom brick veneer home in Devonport TAS 7310, helping you understand whether the price stacks up — and what you can do about it.
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Is This Quote Fair?
The annual premium for this quote comes in at $2,518 per year (or $241/month), covering a building sum insured of $748,000 and contents valued at $296,000, each with a $1,000 excess.
Our price rating for this quote is EXPENSIVE — above average for the Devonport suburb. Here's why:
The suburb average premium sits at just $1,644/year, and the median is $1,655/year — meaning this quote is approximately 53% above the local average. Even at the 75th percentile of local quotes ($2,023/year), this premium still exceeds what most Devonport homeowners are paying.
That said, context matters. The higher sum insured ($748,000 for the building alone) and the inclusion of contents cover worth $296,000 are significant factors. A larger insured value naturally attracts a higher premium. Still, even accounting for these figures, there is likely room to find more competitive pricing for a property with these characteristics.
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How Devonport Compares
To put this quote in perspective, here's how Devonport premiums sit relative to broader benchmarks:
| Benchmark | Average Premium | Median Premium |
|---|---|---|
| Devonport (7310) | $1,644/yr | $1,655/yr |
| Tasmania (TAS) | $2,814/yr | $2,326/yr |
| Latrobe LGA | $2,263/yr | — |
| National | $5,347/yr | $2,764/yr |
| This Quote | $2,518/yr | — |
A few things stand out from this comparison:
- Devonport is one of the more affordable suburbs in Tasmania for home insurance, with local averages well below both the state and national figures. This reflects the area's relatively low exposure to catastrophic weather events compared to cyclone-prone northern Queensland or flood-affected parts of NSW.
- This quote sits above the Devonport suburb average but below the Tasmanian state average — so while it's expensive locally, it's not out of step with broader Tasmanian pricing.
- Nationally, premiums are dramatically higher, with the average sitting at $5,347/year. Devonport homeowners are, in the big picture, paying far less than many of their mainland counterparts.
You can explore more local data on the Devonport suburb stats page, compare it against all of Tasmania, or see how it measures up on the national stats page.
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Property Features That Affect Your Premium
Several characteristics of this property are worth understanding in the context of insurance pricing:
Construction Year: 1970
Homes built in the 1970s can attract higher premiums due to ageing infrastructure — particularly plumbing, electrical wiring, and roofing materials that may not meet current building standards. Insurers assess older homes as carrying a higher risk of claims related to wear and deterioration.
Brick Veneer Walls & Tiled Roof
Brick veneer construction is generally viewed favourably by insurers — it's durable, fire-resistant, and widely used across Australia. A tiled roof similarly signals longevity and weather resistance. These features can work in your favour when it comes to pricing.
Stump Foundation
Homes on stumps (also known as pier foundations) are common in Tasmania and other parts of Australia, particularly in older builds. While this foundation type provides good ventilation and is practical in certain soil conditions, it can be a flag for insurers due to the potential for subsidence, pest access, and moisture-related damage underneath the home.
Solar Panels
This property includes solar panels, which add to the replacement cost of the home and are factored into the building sum insured. Solar systems can also introduce additional risk considerations around electrical faults and fire, which some insurers price into their premiums.
Carpet Flooring & Standard Fittings
Carpet throughout and standard-quality fittings suggest a mid-range fit-out. This generally keeps contents and building replacement costs at a reasonable level — a positive factor for premium pricing.
Building Size: 235 sqm
At 235 square metres, this is a generously sized home. Larger floor areas directly influence the cost to rebuild, which is reflected in the $748,000 building sum insured. Ensuring your sum insured accurately reflects current construction costs in Tasmania is critical — underinsurance remains a significant risk for homeowners.
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Tips for Homeowners in Devonport
1. Review Your Sum Insured Annually
Construction costs have risen considerably in recent years. Make sure your building sum insured reflects what it would actually cost to rebuild your home today — not what you paid for it. Tools like the Cordell Sum Sure calculator can help you estimate an appropriate figure.
2. Shop Around — Seriously
With a 34-quote sample showing a 25th percentile of just $1,182/year in Devonport, there's clearly a wide range of pricing in the market. Don't let your policy auto-renew without comparing alternatives. Get a fresh quote at CoverClub to see what competitive options look like for your specific property.
3. Consider Your Excess Level
Opting for a higher voluntary excess (e.g., $2,000 instead of $1,000) can meaningfully reduce your annual premium. If you have the financial buffer to cover a larger out-of-pocket cost in the event of a claim, this can be a smart trade-off.
4. Check What's Included in Contents Cover
Contents insurance of $296,000 is substantial. Make sure you've itemised high-value items (jewellery, electronics, art) to ensure they're adequately covered — some policies have per-item limits that could leave you underinsured on specific possessions. At the same time, avoid over-insuring if your actual contents value is lower than the nominated figure.
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Compare Your Options with CoverClub
Whether you're renewing an existing policy or insuring a new purchase, it pays to compare. CoverClub makes it easy for Australian homeowners to benchmark their premiums against real data from their suburb and state. If you own a home in Devonport or anywhere else in Tasmania, start a quote today at CoverClub and see how your current cover stacks up.