If you own a free standing home in Highett, VIC 3190, you've probably wondered whether you're paying a fair price for building insurance — or whether there's a better deal out there. In this article, we break down a real building-only insurance quote for a two-bedroom, brick veneer home in Highett, and put it into context using suburb, state, and national pricing data. Whether you're a long-time local or new to the area, the numbers might surprise you.
---
Is This Quote Fair?
The quote in question comes in at $864 per year (or about $83 per month) for building-only cover on a 105 sqm free standing home, with a sum insured of $300,000 and a building excess of $5,000.
Our price rating for this quote is CHEAP — below the suburb average. That's genuinely good news for the homeowner. Based on 29 quotes collected for the Highett area, the suburb average sits at $1,546 per year, meaning this quote is roughly 44% below what most Highett homeowners are paying. Even compared to the cheapest quarter of quotes in the suburb (the 25th percentile at $1,353/yr), this premium is still well under the mark.
So yes — by any reasonable measure, this is a competitive quote. That said, it's worth understanding why it's priced this way, and whether the cover is appropriate for the property.
One factor worth noting is the $5,000 building excess. A higher excess is one of the most common levers insurers use to reduce premiums. It means the homeowner would need to cover the first $5,000 of any building claim out of pocket. For minor damage events, this excess could effectively make the insurance non-claimable. Homeowners should weigh whether the lower premium justifies that out-of-pocket exposure.
---
How Highett Compares
To understand just how well-priced this quote is, it helps to zoom out and look at the broader landscape.
| Benchmark | Annual Premium |
|---|---|
| This Quote | $864 |
| Highett Suburb Average | $1,546 |
| Highett Suburb Median | $1,535 |
| Highett 25th Percentile | $1,353 |
| Highett 75th Percentile | $1,694 |
| VIC State Average | $3,000 |
| VIC State Median | $2,718 |
| Kingston LGA Average | $3,103 |
| National Average | $5,347 |
| National Median | $2,764 |
The gap between Highett's suburb average ($1,546) and the broader Victorian average ($3,000) is already substantial — Highett homeowners generally enjoy lower premiums than most of the state. This is likely due to the suburb's relatively low natural disaster risk profile; Highett is not in a cyclone zone, bushfire risk is comparatively low for an inner-south Melbourne suburb, and it sits in a stable, established residential area.
Compared to the national average of $5,347, the Highett suburb average looks almost modest. Much of that national figure is skewed by high-risk regions in Queensland, Western Australia, and northern Australia, where cyclone, flood, and storm damage drive premiums to extraordinary levels.
You can explore more local pricing data on the Highett suburb stats page, or compare against the broader Victorian insurance landscape and national benchmarks.
---
Property Features That Affect Your Premium
Every property has its own risk profile, and insurers price premiums accordingly. Here's how the features of this particular Highett home likely influence its cost:
Brick Veneer Walls Brick veneer is one of the most common and insurer-friendly wall types in suburban Melbourne. It offers solid fire resistance and structural durability, which generally works in the homeowner's favour at premium time.
Tiled Roof Terracotta or concrete tiles are a staple of Australian suburban homes built in the 1980s. They're durable and relatively low-risk from an insurance perspective, though they can be more expensive to repair than Colorbond if damaged by hail or falling debris.
Stump Foundation The home sits on stumps, which is typical for older Melbourne properties — particularly those built before the 1990s. Stumped homes can be more susceptible to movement and subfloor issues, but they also allow easier access for repairs. Insurers generally treat stumped homes similarly to slab homes in low-risk areas like Highett.
Timber and Laminate Flooring The flooring type can affect contents insurance more than building insurance, but timber floors do carry some additional risk around water damage. For building-only cover, this is a relatively minor factor.
Construction Year: 1985 A home built in 1985 is now 40 years old. Older homes can attract slightly higher premiums due to ageing infrastructure (plumbing, wiring, roofing), but a well-maintained 1985 brick veneer home in a low-risk suburb like Highett typically doesn't face a significant age penalty.
Ducted Climate Control The presence of ducted heating or cooling adds to the overall replacement value of the home. It's worth ensuring your sum insured of $300,000 adequately reflects the cost of rebuilding the home including all fixed systems and fittings.
No Pool, No Solar Panels Both pools and solar panels can add complexity to insurance assessments. The absence of these features keeps the risk profile straightforward.
---
Tips for Homeowners in Highett
1. Double-check your sum insured At $300,000 for a 105 sqm home, the sum insured works out to roughly $2,857 per square metre. Building costs in Melbourne have risen sharply in recent years, with quality construction often exceeding $3,000–$4,000 per sqm. It's worth using an independent building cost calculator to confirm you're not underinsured — being caught short at claim time can be a costly mistake.
2. Reconsider the $5,000 excess The high excess has clearly helped bring this premium down, but ask yourself: could you comfortably cover $5,000 out of pocket after a storm, fire, or burst pipe? If the answer is uncertain, it may be worth requesting a quote with a lower excess (say, $1,000 or $2,000) to see how much the premium changes. The difference might be less than you expect.
3. Review your policy annually Insurance needs change. If you've renovated, added a deck, updated your kitchen, or made other improvements to the property, your sum insured may need to be updated. Failing to disclose significant changes can affect your ability to claim.
4. Compare quotes at renewal time Even if this quote is competitively priced today, premiums can shift significantly at renewal. Insurers regularly reprice their books, and loyalty doesn't always pay. Set a reminder to compare quotes at least 30 days before your renewal date so you have time to switch if a better option emerges.
---
Ready to Compare?
Whether you're happy with your current insurer or looking for a better deal, it pays to know where you stand. CoverClub makes it easy to compare building and contents insurance quotes for homes across Australia — including right here in Highett. Get a quote today and see how your premium stacks up against your neighbours.