If you own a townhouse in Maylands, WA 6051, you're living in one of Perth's most sought-after inner-ring suburbs — a vibrant, walkable neighbourhood sitting just 4 km from the CBD along the Swan River. But how much should you expect to pay for building insurance on a property like this? We've analysed a recent quote for a 2-bedroom, 1-bathroom concrete townhouse in Maylands to help you understand whether the premium on offer represents good value — and what's driving the cost.
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Is This Quote Fair?
The quoted annual premium for this property is $1,689 per year (or approximately $162 per month), covering building only with a $1,000 excess. Our independent price rating for this quote is FAIR — Around Average.
That assessment holds up when you look at the numbers. The suburb average for Maylands sits at $1,681 per year, meaning this quote lands almost exactly on par with what other homeowners in the postcode are paying. It's comfortably below the suburb's 75th percentile of $2,606/yr, so you're not being overcharged — but there is room to potentially do better, given the suburb's 25th percentile sits at $778/yr and the median at $1,300/yr.
It's worth noting that the spread of premiums in Maylands is quite wide. With quotes ranging from under $800 to over $2,600 across our sample of 30 properties, the right insurer and the right level of cover can make a substantial difference to what you pay. A "fair" rating means this quote is reasonable, but it's not necessarily the sharpest price available in the market.
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How Maylands Compares
One of the more encouraging findings in this analysis is just how competitively priced Maylands is relative to broader benchmarks. Here's how the numbers stack up:
| Benchmark | Average Premium | Median Premium |
|---|---|---|
| Maylands (6051) | $1,681/yr | $1,300/yr |
| LGA (Bayswater) | $1,590/yr | — |
| Western Australia | $2,144/yr | $1,944/yr |
| National | $2,965/yr | $2,716/yr |
Maylands homeowners are paying, on average, around 21% less than the WA state average and a striking 43% less than the national average. That's a meaningful difference — and it reflects the relatively low-risk profile of the suburb. Maylands is not in a cyclone zone, faces limited flood exposure compared to many other Australian postcodes, and benefits from the generally stable risk environment of Perth's inner suburbs.
For full suburb-level data, visit our Maylands insurance stats page. You can also explore WA state averages or benchmark against national figures to get a broader picture.
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Property Features That Affect Your Premium
Every insurer prices a property based on its individual characteristics. Here's how the key features of this Maylands townhouse are likely influencing the quoted premium:
Construction: Concrete Walls & Tiled Roof
Concrete external walls are generally viewed favourably by insurers. They offer strong resistance to impact, fire, and general wear — which can translate to lower rebuild risk compared to timber-framed or clad properties. Combined with a tiled roof, this construction profile is considered solid and durable, and it likely contributes to keeping the premium competitive.
Slab Foundation
A concrete slab foundation is the standard for properties of this era in WA, and it's generally considered low-risk from an insurer's perspective. There's no suspended subfloor to worry about, and slab foundations tend to perform well in Perth's dry climate.
Built in 1990
At around 35 years old, this townhouse sits in a middle ground for insurers. It's old enough that some building components (roofing, plumbing, electrical) may be approaching the end of their useful life, which can nudge premiums slightly upward. However, it's not so old as to attract the significant loading that pre-1970s properties sometimes face.
Ducted Climate Control
The presence of ducted climate control is a notable inclusion. This system adds to the overall replacement value of the building and is factored into the sum insured. It's a worthwhile feature to have covered, but it does contribute to the cost of the policy.
Strata / Body Corporate Property
As a strata property, the building insurance arrangements can be more nuanced. In many strata schemes, the body corporate arranges a master building policy that covers the shared structure — meaning individual owners may only need to insure their lot entitlement or internal fixtures. It's essential to review your strata plan and body corporate insurance carefully to avoid double-covering (or worse, under-covering) your property.
Sum Insured: $700,000
The building is insured for $700,000, which for a 105 sqm townhouse in Maylands represents a rebuild cost of approximately $6,667 per square metre. This is on the higher end for a standard townhouse, but may reflect the cost of shared walls, strata-specific rebuild considerations, and the inclusion of ducted systems. It's worth periodically reviewing your sum insured with a quantity surveyor to ensure it's accurate.
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Tips for Homeowners in Maylands
1. Review your strata insurance carefully before purchasing a standalone policy. Because this is a body corporate property, your owners corporation may already hold a building policy. Check what's covered under the strata scheme — you may only need contents insurance or a policy covering your internal fit-out, rather than full building cover.
2. Shop around — the spread in Maylands is wide. With premiums ranging from $778 to $2,606 in our local dataset, the difference between the cheapest and most expensive quotes is enormous. Getting multiple quotes through a comparison platform like CoverClub takes minutes and could save you hundreds annually.
3. Review your sum insured regularly. Construction costs in WA have risen sharply in recent years. If your sum insured hasn't been updated, you may be underinsured — leaving you exposed in the event of a total loss. Consider commissioning a professional building valuation every few years.
4. Ask about discounts for security features. Even without a pool or solar panels, features like deadbolts, alarm systems, and security screens can attract premium discounts with some insurers. If you've recently upgraded your home's security, make sure your insurer knows about it.
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Compare Your Options with CoverClub
Whether you're renewing your current policy or shopping for the first time, it pays to compare. CoverClub makes it easy to benchmark your premium against real data from your suburb and find a policy that suits your needs. Get a quote today and see how much you could save on building insurance for your Maylands townhouse.