If you own a free standing home in Lakelands, WA 6180, you're probably curious about whether you're paying a fair price for home and contents insurance — or leaving money on the table. This article breaks down a real insurance quote for a 4-bedroom, 2-bathroom property in Lakelands, comparing it against local, state-wide, and national benchmarks so you can make a more informed decision at renewal time.
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Is This Quote Fair?
The annual premium for this quote comes in at $1,583 per year (or roughly $152 per month), covering both building and contents. The building is insured for $600,000 and contents for $350,000 — a comprehensive level of cover for a well-appointed family home.
Our price rating for this quote is FAIR — Around Average, which means it sits in a reasonable range relative to what other Lakelands homeowners are paying, without being a standout bargain or an obvious overpay.
To put that in context:
- The suburb average for Lakelands is $1,854/yr, meaning this quote is about $271 below what the typical local homeowner pays.
- The suburb median is $1,451/yr — so this quote sits slightly above the midpoint of local pricing, which is consistent with the higher-than-typical sum insured amounts.
- Compared to the WA state average of $2,144/yr, this quote is notably cheaper — a saving of over $560 annually.
- Against the national average of $2,965/yr, the difference is even more striking, with this quote coming in nearly $1,400 less per year.
Given the generous cover levels — particularly the $600,000 building sum insured and $350,000 contents — paying $1,583/yr represents solid value. Homeowners with lower sums insured would likely find quotes closer to or below the suburb median.
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How Lakelands Compares
Lakelands (WA 6180) sits within the City of Mandurah local government area, where the average home insurance premium is $1,732/yr — lower than the broader WA state average of $2,144/yr and well below the national average of $2,965/yr.
Here's a quick snapshot of where Lakelands sits in the broader pricing landscape:
| Benchmark | Annual Premium |
|---|---|
| Lakelands suburb average | $1,854 |
| Lakelands suburb median | $1,451 |
| Lakelands 25th percentile | $1,115 |
| Lakelands 75th percentile | $2,798 |
| Mandurah LGA average | $1,732 |
| WA state average | $2,144 |
| National average | $2,965 |
| This quote | $1,583 |
The wide spread between the 25th percentile ($1,115) and 75th percentile ($2,798) tells an important story: premiums in Lakelands vary significantly depending on the property, the insurer, and the level of cover. This reinforces the value of shopping around rather than simply accepting a renewal price.
It's worth noting that the suburb sample size is relatively small (6 quotes), so these figures should be treated as indicative rather than definitive. As more data becomes available, the averages will become more reliable.
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Property Features That Affect Your Premium
Several characteristics of this property work in the homeowner's favour from an insurance pricing perspective.
Double brick construction is one of the most favourable wall types for insurers in Australia. It offers strong resistance to fire, wind, and impact damage compared to lighter materials like timber or clad weatherboard. Insurers typically view double brick homes as lower risk, which can translate into more competitive premiums.
Steel/Colorbond roofing is similarly well-regarded. Colorbond is durable, low-maintenance, and performs well in both high-wind and high-heat conditions — important considerations in Western Australia. It's far less susceptible to storm damage than terracotta tiles, which can crack or dislodge.
The slab foundation is standard for newer builds in the Perth metro and Mandurah region, and generally presents no elevated risk profile for insurers.
Timber and laminate flooring is a common feature in above-average-quality homes and may influence contents valuation, but doesn't significantly impact building premium calculations.
The above-average fittings quality does play a role — homes with higher-quality fixtures, fittings, and finishes cost more to repair or replace, which justifies a higher sum insured and, in turn, a slightly higher premium. The $600,000 building sum insured reflects this.
The absence of a pool and solar panels simplifies the risk profile. Both features — while common in WA — can add complexity and cost to a policy. Ducted climate control is present, and while it adds to the replacement value of the home, it's a standard inclusion in most building policies for a home of this quality.
Built in 2015, this is a relatively modern home. Newer properties tend to attract lower premiums than older ones, as they're built to more recent standards and are less likely to have ageing infrastructure issues.
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Tips for Homeowners in Lakelands
1. Review your sum insured annually Building costs in WA have risen considerably over the past few years. Make sure your $600,000 building sum insured still reflects what it would actually cost to rebuild your home from scratch — not its market value. Underinsurance is one of the most common and costly mistakes homeowners make.
2. Check what's included in your contents cover At $350,000, this is a substantial contents sum. Make sure your policy includes portable valuables (jewellery, laptops, cameras) if you want cover outside the home, and confirm whether high-value individual items need to be listed separately to be fully covered.
3. Compare at renewal, every time The gap between the suburb's 25th and 75th percentile premiums is nearly $1,700 per year. That's a significant range, and it exists because different insurers price risk differently. Even if your current insurer offers a competitive renewal, it's worth running a comparison to make sure.
4. Ask about your excess structure This policy carries a $2,000 building excess and a $600 contents excess. Opting for a higher voluntary excess can reduce your premium, but make sure you're comfortable covering that amount out of pocket if you need to make a claim. For a property of this value, the current excess levels are reasonable.
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Ready to Compare?
Whether you're reviewing your current policy or buying insurance for the first time, it pays to see what's available across multiple insurers. Get a home insurance quote at CoverClub and find out how your premium stacks up against other Lakelands homeowners — in just a few minutes.