Figtree is a well-established residential suburb in the Wollongong local government area, sitting roughly 5 kilometres south-west of Wollongong's CBD. Known for its leafy streets, family-friendly atmosphere, and proximity to the Illawarra Escarpment, it's a popular choice for owner-occupiers seeking a quiet lifestyle without straying too far from the coast. If you own a free-standing home here, understanding what you should be paying for home and contents insurance is an important part of protecting one of your most valuable assets.
This article breaks down a recent home and contents insurance quote for a 3-bedroom, 2-bathroom free-standing home in Figtree — and puts it into context against local, state, and national benchmarks.
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Is This Quote Fair?
The quote in question came in at $1,274 per year (or approximately $122 per month) for combined home and contents cover, with a building sum insured of $400,000 and contents valued at $65,000. The building excess is $2,000 and the contents excess is $1,000.
Our pricing engine rates this quote as CHEAP — below average for the area. That's a meaningful finding. Based on a sample of 62 quotes collected for the Figtree 2525 postcode, the suburb's average annual premium sits at $3,080, and the median is $2,106. This quote lands well below even the 25th percentile threshold of $1,394 — meaning it's cheaper than at least 75% of comparable quotes in the area.
In plain terms: this is a genuinely competitive result. Whether you're shopping around for the first time or reviewing an existing policy, a premium this far below the local median is worth taking seriously.
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How Figtree Compares
To put the numbers in broader perspective, here's how Figtree stacks up against state and national figures:
| Benchmark | Average Premium | Median Premium |
|---|---|---|
| Figtree (2525) | $3,080/yr | $2,106/yr |
| Wollongong LGA | $2,530/yr | — |
| NSW | $3,801/yr | $3,410/yr |
| National | $2,965/yr | $2,716/yr |
| This Quote | $1,274/yr | — |
Figtree's suburb average of $3,080 sits above the national average of $2,965 but below the NSW state average of $3,801. This is fairly typical of Wollongong-area suburbs — premiums tend to be elevated compared to the national norm, largely due to proximity to the coast and localised weather risks, but they generally fall short of the peaks seen in Sydney's more exposed or flood-prone postcodes.
The Wollongong LGA average of $2,530 is notably lower than the broader suburb average for Figtree specifically, which suggests some variation in risk profiles across the region.
You can explore the full breakdown of local pricing data on the Figtree suburb stats page, compare it against the NSW state overview, or check out national home insurance benchmarks for a wider picture.
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Property Features That Affect Your Premium
Several characteristics of this particular property are likely contributing to its favourable premium outcome.
Brick Veneer Construction
Brick veneer is one of the most common — and insurer-friendly — wall materials in Australian suburban homes. It offers solid fire resistance and structural durability, which typically translates to lower risk in the eyes of underwriters compared to timber-clad or weatherboard homes.
Tiled Roof
Like brick veneer walls, a tiled roof is generally viewed positively by insurers. Tiles are durable, fire-resistant, and perform well in most weather conditions. They tend to attract lower premiums than corrugated iron or older asbestos-style roofing materials.
Elevated on Stumps
The property sits elevated by at least one metre on a stump foundation. While this construction style can sometimes raise questions around structural maintenance, it also provides a degree of natural flood mitigation — water is less likely to inundate the living areas of an elevated home during heavy rainfall events. In a region like the Illawarra, which can experience intense rainfall, this is a meaningful risk factor that may be working in the homeowner's favour.
Built in 1995
Homes constructed in the mid-1990s generally benefit from modern building codes without the premium loading sometimes associated with very old homes. The 1995 build date places this property in a sweet spot — old enough to have settled and established, but built under standards that required adequate structural integrity.
Swimming Pool
The presence of a swimming pool adds a small but real layer of liability risk, which is typically reflected in premiums. Pool-related incidents — from accidental drowning to property damage — are a consideration for insurers. It's worth ensuring your policy explicitly covers pool-related liability.
Ducted Climate Control
Ducted air conditioning systems are a contents and building consideration. If the system is built into the structure, it may be covered under your building sum insured. If it's a standalone unit, check whether it's captured under contents. Either way, it's worth confirming with your insurer that your ducted system is adequately covered.
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Tips for Homeowners in Figtree
1. Don't underinsure your building. A sum insured of $400,000 for a 139 sqm brick veneer home in the Illawarra is worth reviewing annually. Construction costs have risen significantly in recent years, and underinsurance remains one of the most common — and costly — mistakes homeowners make. Use a building cost calculator or speak with a quantity surveyor to validate your figure.
2. Review your pool liability cover. If you have a pool, make sure your policy includes adequate liability protection. Check that your pool fencing meets NSW compliance requirements, as non-compliant fencing could affect a claim outcome.
3. Take advantage of your elevated position. If your home's elevation has contributed to a lower flood risk rating, make sure any future insurer is aware of this. When switching policies or renewing, be specific about the foundation type and elevation — it can make a real difference to your quoted premium.
4. Compare at renewal, every year. Even a "cheap" quote today may not be the best available next year. Insurers adjust their pricing models regularly, and loyalty doesn't always pay. Use a comparison tool like CoverClub to benchmark your renewal quote before accepting it.
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Find a Better Deal with CoverClub
Whether your current premium looks similar to this quote or you're paying closer to the suburb average of $3,080, it pays to compare. CoverClub makes it easy to see how your home insurance stacks up against real quotes from across Figtree and the broader Wollongong region. Get a quote today and find out if you're getting the deal you deserve.