If you own a townhouse in Maylands, WA 6051, you've probably wondered whether you're paying too much — or too little — for home insurance. Maylands is a well-established inner-suburb of Perth, sitting just 4 km from the CBD along the Swan River corridor. It attracts a mix of owner-occupiers and investors, and its property market has seen solid growth over recent years. With that growth comes the question of whether your building insurance is keeping pace — and whether the premium you're paying actually represents good value.
This article breaks down a real building insurance quote for a 2-bedroom, 1-bathroom townhouse in Maylands, comparing it against local, state, and national benchmarks to help you make a more informed decision.
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Is This Quote Fair?
The quoted annual premium for this property is $1,483 per year (or around $142 per month), covering the building only with a sum insured of $638,000 and a standard excess of $1,000.
Our price rating for this quote is FAIR — Around Average.
That assessment holds up well when you look at the numbers. The quote sits below the Maylands suburb average of $1,585/yr and meaningfully below the suburb median of $1,711/yr. In other words, this premium is slightly better than what most comparable properties in the same postcode are paying. It also falls within the middle of the suburb's interquartile range — between the 25th percentile of $1,196/yr and the 75th percentile of $2,094/yr — which confirms it's neither a standout bargain nor an overpriced outlier.
So while there may be room to find a cheaper quote, this one isn't a cause for concern. It's a reasonable price for the coverage on offer.
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How Maylands Compares
Context is everything when evaluating an insurance premium. Here's how this quote stacks up across different geographic benchmarks:
| Benchmark | Average Premium |
|---|---|
| Maylands (6051) suburb average | $1,585/yr |
| LGA average (City of Bayswater) | $1,514/yr |
| Western Australia state average | $2,811/yr |
| WA state median | $2,127/yr |
| National average | $5,347/yr |
| National median | $2,764/yr |
The contrast here is striking. At $1,483/yr, this quote is roughly 47% below the WA state average and an extraordinary 72% below the national average. Even compared to the national median of $2,764/yr, this premium looks very competitive.
Why the gap? Much of Australia's national average is dragged upward by high-risk regions — particularly cyclone-prone areas in Queensland and Northern Australia, bushfire-prone zones in Victoria and NSW, and flood-affected communities. Maylands, by contrast, benefits from a relatively benign risk profile: it's not in a cyclone risk zone, it has low bushfire exposure, and while parts of Perth face some flood risk, Maylands generally sits in a lower-risk category. That translates directly into more affordable premiums.
The LGA average for the City of Bayswater ($1,514/yr) is also a useful local reference point, and this quote comes in just below that figure too — a reassuring sign.
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Property Features That Affect Your Premium
Several characteristics of this particular townhouse influence how insurers price the risk. Understanding these factors can help you anticipate future changes and potentially identify areas to optimise your cover.
Concrete external walls are generally viewed favourably by insurers. Concrete is highly resistant to fire, impact, and termite damage, and it tends to perform well in storm events. Compared to timber-framed homes, concrete construction can attract lower premiums.
Steel/Colorbond roofing is another positive signal. Colorbond is a popular choice across Perth and is well-regarded for its durability, resistance to corrosion, and ability to withstand wind loads. It's considered a lower-risk roofing material compared to older alternatives like terracotta tiles or fibrous cement sheeting.
Slab foundation is standard for homes built in WA and is generally considered a stable, low-maintenance foundation type — insurers don't typically load premiums for this.
Solar panels are worth noting. While they don't dramatically increase premiums, they do add to the rebuild value of the property, and some insurers treat them as a separate consideration. It's worth confirming with your insurer that your solar system is explicitly covered under your building policy, including damage from storms or hail.
Ducted climate control (likely ducted reverse-cycle air conditioning) is classified as a building fixture, meaning it should be covered under a building-only policy. However, it does add to the overall sum insured, which in turn affects the premium. At $638,000, the sum insured for this 105 sqm townhouse appears appropriately calibrated.
Above-average fittings quality is another factor that pushes the sum insured higher than a standard-spec property. Quality fixtures — think stone benchtops, quality cabinetry, premium flooring — cost more to replace, and the sum insured should reflect that. Underinsuring a well-appointed property is a common and costly mistake.
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Tips for Homeowners in Maylands
Whether you're reviewing an existing policy or shopping for new cover, here are four practical steps Maylands homeowners can take to get better value from their building insurance.
1. Verify your sum insured annually. Building costs in Perth have risen significantly since the post-COVID construction boom. A sum insured that was accurate in 2022 may now be insufficient to cover a full rebuild. Use a quantity surveyor report or an online building cost calculator to check your figure at each renewal.
2. Confirm your solar panels are covered. Solar installations are a common exclusion or grey area in some policies. Ask your insurer directly whether panels are covered for storm damage, hail, and electrical fault — and whether the inverter is included. If not, you may need an endorsement or a separate policy.
3. Shop around at renewal time. With 22 quotes sampled in the Maylands area alone, there's meaningful price variation in this postcode. The difference between the 25th and 75th percentile premiums is nearly $900 per year — for essentially the same property type. Comparing quotes at CoverClub takes only a few minutes and could save you hundreds.
4. Review your excess settings. A $1,000 excess is fairly standard, but increasing it to $2,000 or $2,500 can reduce your annual premium noticeably. If you have a healthy emergency fund and are unlikely to make small claims, a higher excess is often a smart trade-off.
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Ready to Compare?
Whether this quote is the right one for your property depends on more than just the price — coverage terms, exclusions, and claim handling all matter too. The best way to know you're getting genuine value is to compare.
Get a building insurance quote for your Maylands property at CoverClub and see how your premium stacks up against the market in seconds. It's free, fast, and gives you the data you need to make a confident decision.