Matraville is a well-established suburb in Sydney's eastern corridor, sitting within the Bayside local government area and just a short drive from Botany Bay. It's a neighbourhood that blends post-war character with newer residential developments, and a growing number of townhouses have made it a popular choice for families and investors alike. If you own a townhouse here and you're wondering whether your home insurance premium is reasonable, this article breaks down a real quote — and puts it in context.
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Is This Quote Fair?
The quote in question is $3,269 per year (or about $313 per month) for a combined home and contents policy. It covers a 4-bedroom, 2-bathroom townhouse with a building sum insured of $1,333,000 and contents valued at $198,000. Both the building and contents excess sit at $5,000.
Our price rating for this quote is FAIR — Around Average.
That assessment holds up when you look at the numbers. Within the 2036 postcode, the suburb average premium sits at $4,432 per year, and the median is $3,866 per year. This quote comes in comfortably below both of those figures, landing between the suburb's 25th percentile ($2,902/yr) and median — which means it's in the more competitive half of the local market.
It's worth noting that the suburb sample size is relatively small (5 quotes), so these figures should be treated as indicative rather than definitive. That said, the quote is clearly not an outlier, and for the level of cover being provided — particularly the high building sum insured — it represents reasonable value.
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How Matraville Compares
To put this premium in broader perspective, here's how it stacks up across different benchmarks:
| Benchmark | Premium |
|---|---|
| This Quote | $3,269/yr |
| Suburb Average (2036) | $4,432/yr |
| Suburb Median (2036) | $3,866/yr |
| LGA Average (Bayside, NSW) | $2,954/yr |
| NSW State Average | $9,528/yr |
| NSW State Median | $3,770/yr |
| National Average | $5,347/yr |
| National Median | $2,764/yr |
A few things stand out here. The NSW state average of $9,528 is dramatically higher than the median of $3,770 — a classic sign that a small number of very high-risk or high-value properties are pulling the average upward. The same dynamic is at play nationally, where the average ($5,347) is nearly double the median ($2,764).
For Matraville specifically, premiums tend to be moderate by Sydney standards. The suburb doesn't face the bushfire exposure of properties further west or north, and it sits outside cyclone risk zones. Flood risk varies by exact location within the postcode, but Matraville as a whole is not considered a high-risk flood area.
You can explore more local data on the Matraville insurance stats page, or compare it against NSW-wide trends and national benchmarks.
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Property Features That Affect Your Premium
Insurance underwriters assess risk based on the specific characteristics of your home. Here's how the features of this particular townhouse are likely influencing its premium:
Double Brick Walls Double brick construction is generally viewed favourably by insurers. It's durable, fire-resistant, and less susceptible to storm damage than some lighter cladding materials. This can contribute to a lower premium compared to properties with timber or lightweight cladding.
Steel / Colorbond Roof Colorbond roofing is a popular choice in modern Australian construction, and for good reason — it's lightweight, corrosion-resistant, and performs well in high winds. Insurers typically rate it well, particularly compared to older tile roofs that can crack or dislodge.
Slab Foundation A concrete slab is considered a stable and low-maintenance foundation type. It reduces the risk of subsidence-related claims and is well-suited to the soil conditions found across much of Sydney's eastern suburbs.
Timber and Laminate Flooring While attractive and common in modern townhouses, timber and laminate floors can be more expensive to replace after a water damage event than tiles. This may have a modest upward effect on the contents or building replacement cost estimate.
Ducted Climate Control Ducted air conditioning systems add meaningful value to a home but also represent a significant replacement cost if damaged. It's important that this is factored into your building sum insured — and in this case, with a sum insured of $1,333,000 for a 235 sqm townhouse, it appears to be.
Granny Flat The presence of a granny flat increases the total insurable area of the property. This is reflected in the higher-than-average building sum insured. If the granny flat is rented out, it's worth confirming with your insurer whether that affects your cover conditions — some policies have specific provisions around rental income or tenant liability.
Construction Year: 2016 A relatively modern build means the property is likely compliant with current building codes, uses contemporary materials, and is less likely to have maintenance-related vulnerabilities. Newer homes often attract slightly lower premiums than older equivalents.
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Tips for Homeowners in Matraville
1. Review your building sum insured annually Construction costs have risen sharply in recent years across Australia. A sum insured that was accurate two years ago may now fall short of what it would actually cost to rebuild your home. Use a building cost calculator — many insurers provide one — and revisit this figure each renewal.
2. Clarify your granny flat cover If your policy covers the granny flat as part of the main dwelling, confirm exactly what's included. If you rent it out, check whether you need a landlord policy or a specific endorsement to cover tenant-related risks.
3. Consider your excess carefully Both the building and contents excess on this policy are set at $5,000. A higher excess typically lowers your premium, but it means you'll need to cover more out of pocket in the event of a claim. Make sure this level is genuinely affordable for your household before locking it in.
4. Shop around at renewal time A FAIR rating means this quote is competitive, but it's not necessarily the best available. Insurers adjust their pricing models regularly, and the gap between the cheapest and most expensive quotes in any suburb can be substantial — as the spread between Matraville's 25th percentile ($2,902) and 75th percentile ($6,183) clearly shows.
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Compare Your Options with CoverClub
Whether you're renewing an existing policy or insuring a property for the first time, it pays to compare. CoverClub makes it easy to see how your current premium stacks up and find better value cover in minutes. Get a home insurance quote today and see what's available for your property in Matraville.