If you own a free standing home in Frankston South, VIC 3199, you already know the suburb offers a compelling mix of coastal lifestyle, leafy streets, and solid property values. But when it comes to protecting that investment, how much should you expect to pay for home and contents insurance — and is the quote sitting in your inbox actually competitive?
This article breaks down a real insurance quote for a five-bedroom, two-bathroom free standing home in Frankston South, 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 $2,827 per year (or $272/month) for combined home and contents cover, with a building sum insured of $1,066,000 and contents valued at $150,000. Both the building and contents excess are set at $1,000.
Our price rating for this quote is EXPENSIVE — above average for the suburb.
To put that in context, the suburb average premium in Frankston South sits at $2,305/year, and the median is even lower at $2,084/year. This quote lands above the 75th percentile for the area ($2,656/year), meaning it's pricier than roughly three-quarters of comparable quotes we've seen in the postcode.
That said, "expensive" is relative. The building sum insured of over $1 million is on the higher end, and the property has several features — a pool, solar panels, and ducted climate control — that can push premiums upward. It's worth understanding why the price is where it is before shopping around, which is exactly what we'll unpack below.
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How Frankston South Compares
Here's how this quote stacks up across different geographic benchmarks, based on data from 103 quotes in the Frankston South postcode:
| Benchmark | Premium |
|---|---|
| This Quote | $2,827/yr |
| Frankston South Average | $2,305/yr |
| Frankston South Median | $2,084/yr |
| Frankston South 25th Percentile | $1,647/yr |
| Frankston South 75th Percentile | $2,656/yr |
| Frankston LGA Average | $3,283/yr |
| VIC State Average | $3,000/yr |
| VIC State Median | $2,718/yr |
| National Average | $5,347/yr |
| National Median | $2,764/yr |
A few things stand out here. While this quote is above the Frankston South suburb average, it actually sits below the broader Frankston LGA average of $3,283/year and comfortably below the Victorian state average of $3,000/year. Against the national average of $5,347/year — heavily influenced by high-risk regions in Queensland and Western Australia — this quote looks quite reasonable.
So the picture is nuanced. Relative to immediate neighbours in the postcode, this quote is on the pricier side. Zoom out to a state or national view, and it's actually sitting in a fairly sensible range for a large, well-appointed home.
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Property Features That Affect Your Premium
Several characteristics of this property have a meaningful influence on what insurers charge. Here's how they factor in:
Size and Bedrooms
At 277 sqm with five bedrooms and two bathrooms, this is a larger-than-average home. More floor space generally means a higher rebuild cost, which directly drives up the building sum insured — and therefore the premium.
Construction: Double Brick Walls and Colorbond Roof
Double brick construction is generally viewed favourably by insurers. It's durable, fire-resistant, and holds up well structurally over time. The steel/Colorbond roof is similarly regarded as a resilient, low-maintenance option. Together, these materials can help moderate risk in the eyes of underwriters.
Stump Foundation and Elevated Design
The home sits on stumps and is elevated by less than one metre. While this style of construction is common in Victoria and generally well-understood by insurers, elevated homes can carry slightly different risk profiles — particularly around storm and flood water ingress — depending on how the underfloor space is managed.
Timber and Laminate Flooring
Timber and laminate floors are a premium feature but can be more costly to repair or replace after water damage or fire compared to concrete or tile. This can subtly influence contents and building claim costs.
Pool, Solar Panels, and Ducted Climate Control
These three features are worth noting individually:
- Swimming pool: Adds liability exposure and replacement cost, which most insurers factor into the building sum insured.
- Solar panels: Roof-mounted panels are increasingly common, but they add to the rebuild value and can be damaged by hail or storm events. Not all standard policies cover them equally — always check the PDS.
- Ducted climate control: A whole-home system is expensive to repair or replace, and its inclusion in the building sum insured is appropriate and necessary.
Age of the Property
Built in 1985, the home is nearly 40 years old. Older properties can attract slightly higher premiums due to ageing wiring, plumbing, and structural components, even when well-maintained. Some insurers apply age-based loadings, particularly for homes approaching or exceeding 40 years.
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Tips for Homeowners in Frankston South
1. Review Your Building Sum Insured Carefully
At $1,066,000, the building sum insured is substantial. Make sure this figure reflects the actual cost to rebuild — not the market value of your property. Overinsuring can mean unnecessarily high premiums, while underinsuring leaves you exposed. Use a building cost calculator or speak with a quantity surveyor if you're unsure.
2. Ask About Solar Panel and Pool Cover
Before renewing, confirm exactly how your policy handles solar panel damage and pool-related liability. Some insurers include these automatically; others require endorsements or have sub-limits. Knowing the detail could save you a nasty surprise at claim time.
3. Consider Raising Your Excess
Both the building and contents excess on this quote are set at $1,000. If you have a solid emergency fund and are unlikely to make small claims, increasing your excess to $2,000 or higher can meaningfully reduce your annual premium. Just make sure the trade-off makes financial sense for your situation.
4. Compare at Renewal — Every Year
Insurance premiums in Australia have been rising steadily, and loyalty doesn't always pay. The fact that this quote sits above the Frankston South median suggests there may be more competitive options available. Running a fresh comparison at CoverClub at each renewal takes only a few minutes and could save you hundreds of dollars annually.
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Find a Better Deal with CoverClub
Whether this quote is the right fit or you suspect you can do better, CoverClub makes it easy to compare home and contents insurance options across Australia. Enter your property details once and see how your premium stacks up — no jargon, no pressure. Get a quote today at CoverClub and make sure your Frankston South home is covered at the right price.