A four-bedroom, two-bathroom free standing home in Goodna, QLD 4300 recently received a home and contents insurance quote of $1,423 per year (or $140/month). Based on our pricing data, this quote is rated CHEAP — sitting well below what most homeowners in the suburb, the state, and even the national average are paying. So what's driving this competitive price, and does it represent genuine value? Let's break it down.
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Is This Quote Fair?
Short answer: yes — and then some.
At $1,423 annually, this quote covers $502,000 in building insurance and $50,000 in contents, with a building excess of $3,000 and a contents excess of $1,000. For a 130 sqm brick veneer home built in 1994, that's a solid level of coverage at a price that undercuts most benchmarks significantly.
To put it in perspective, the suburb average premium in Goodna is $9,018 per year, and the median sits at $5,157. Even the 25th percentile — meaning the cheapest quarter of quotes in the area — comes in at $2,736. This quote at $1,423 is nearly half the cheapest quartile and more than six times cheaper than the suburb average.
That's not a typo. Goodna is a notoriously expensive suburb to insure (more on that below), which makes this quote all the more remarkable.
The higher excesses — particularly the $3,000 building excess — are likely contributing to the lower premium. Choosing a higher excess means you absorb more cost in the event of a claim, and insurers reward that risk-sharing with lower upfront premiums. For homeowners who are financially prepared to cover a larger excess if something goes wrong, this can be a smart trade-off.
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How Goodna Compares
Goodna's insurance premiums are among the most elevated in Queensland — and Queensland itself is one of the most expensive states in Australia to insure a home. Here's how the numbers stack up:
| Benchmark | Average Premium | Median Premium |
|---|---|---|
| Goodna (4300) | $9,018/yr | $5,157/yr |
| Ipswich LGA | $3,034/yr | — |
| Queensland | $4,547/yr | $3,931/yr |
| National | $2,965/yr | $2,716/yr |
Goodna's suburb average of $9,018 is nearly twice the Queensland state average and more than three times the national average. The wide gap between the suburb's average ($9,018) and its median ($5,157) also suggests a significant number of very high quotes are pulling the average upward — likely reflecting properties with severe flood or storm exposure that attract extreme premiums.
You can explore the full breakdown of Goodna suburb insurance stats, compare against Queensland-wide data, or view national home insurance benchmarks to see where your own property sits.
The Ipswich LGA average of $3,034 provides useful local context — it's far more moderate than the Goodna suburb figure, suggesting that while parts of Ipswich are affordable to insure, Goodna itself carries elevated risk in the eyes of insurers.
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Property Features That Affect Your Premium
Several characteristics of this property work in its favour from an insurance pricing perspective:
Brick veneer construction is generally viewed positively by insurers. It offers solid structural integrity and reasonable fire resistance, which can help moderate premiums compared to timber-framed or clad homes.
Tiled roof is another tick in the right column. Concrete or terracotta tiles are durable and perform well in storms, making them a lower-risk roofing material than corrugated iron in certain weather events — though tiles can crack under severe hail, so it's worth checking your policy's hail coverage.
Slab foundation is standard for Queensland homes of this era and generally doesn't attract any loading from insurers. It also means there's no subfloor space that could be susceptible to flooding from below, which is relevant in a suburb like Goodna.
Solar panels are present on this property. While solar adds value to the home, it's worth confirming with your insurer whether the panels are included under the building sum insured. Some policies cover them automatically; others treat them as an optional add-on. Ensuring adequate coverage for your solar system is an easy step that's often overlooked.
No pool and no ducted climate control keep the risk profile relatively clean. Pools introduce liability considerations, and ducted systems can be expensive to repair or replace — so their absence here contributes to a more straightforward (and affordable) risk assessment.
The 1994 construction year places this home in a generation that meets modern building standards without the age-related concerns that come with pre-1980s homes. Wiring, plumbing, and structural elements are generally in a reliable age bracket.
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Tips for Homeowners in Goodna
Goodna's flood history is well-documented — the suburb was significantly impacted during the 2011 and 2022 Queensland floods. Even if your specific property sits on higher ground, insurers factor in the broader postcode risk. Here's how to make the most of your coverage:
1. Confirm your flood cover — and read the fine print. Flood cover is not automatically included in all home insurance policies. In a suburb like Goodna, this distinction is critical. Make sure your policy explicitly covers riverine flooding (not just storm surge or rainwater), and understand any sub-limits or exclusions that may apply.
2. Review your sum insured annually. Building costs in Queensland have risen sharply in recent years. The $502,000 sum insured should reflect the full cost to rebuild your home from scratch — not its market value. Use an independent building cost calculator or ask your insurer to help you verify this figure each year.
3. Consider your excess strategically. This quote carries a $3,000 building excess, which is on the higher end. If you have the savings to cover that amount comfortably in the event of a claim, it's a reasonable trade-off for a lower premium. If not, it may be worth comparing quotes with a lower excess to find a better balance.
4. Check your solar panel coverage. With solar panels installed, confirm whether they're covered under your building policy, what the replacement value is, and whether damage from specific events (like hail or storm) is included. It's a small check that could save you thousands.
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Compare Your Own Quote
Whether you're a Goodna local or just curious how your home insurance stacks up, CoverClub makes it easy to see what you should be paying. With real quote data from across Australia, you can benchmark your premium against your suburb, your state, and the national picture — in minutes.
Get a home insurance quote today at CoverClub and find out if you're getting a fair deal — or paying too much.