If you own a free standing home in Modbury North, SA 5092, you're probably curious about whether your home insurance premium stacks up — or whether you're quietly paying more than you need to. This article breaks down a real home and contents insurance quote for a four-bedroom, two-bathroom brick veneer home in the suburb, 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 annual premium for this property came in at $1,034 per year (or around $98 per month), covering both building (sum insured: $704,000) and contents ($50,000). Our pricing algorithm rates this quote as Fair — Around Average.
That assessment holds up when you look at the numbers. The suburb average for Modbury North sits at $918 per year, with a median of $855. At $1,034, this quote lands in the upper half of the local range — above the median but comfortably below the 75th percentile of $1,107. In practical terms, roughly 75% of comparable quotes in the area cost less than $1,107, so this premium is sitting in a reasonable but not particularly competitive position.
It's worth noting that the building sum insured of $704,000 for a 277 sqm home is a significant figure, and the contents coverage of $50,000 — while modest — does add to the overall cost. The building excess of $2,000 and contents excess of $1,000 are fairly standard and would typically help keep the premium from climbing higher.
For a property of this age (built in 1970) and size, a "Fair" rating is neither a red flag nor a green light to stop shopping. It simply means there's room to explore whether a better deal exists elsewhere.
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How Modbury North Compares
One of the most striking takeaways from this quote is just how affordable Modbury North is relative to broader benchmarks. Here's how the numbers line up:
| Benchmark | Average Premium | Median Premium |
|---|---|---|
| Modbury North (suburb) | $918/yr | $855/yr |
| Tea Tree Gully LGA | $1,588/yr | — |
| South Australia | $1,933/yr | $1,787/yr |
| National | $2,965/yr | $2,716/yr |
Even at $1,034 — slightly above the suburb average — this quote is nearly half the South Australian average and less than 35% of the national average. That's a meaningful difference, and it reflects Modbury North's relatively low-risk profile as a suburban Adelaide location.
You can explore the full picture of local pricing trends at the Modbury North insurance stats page, or zoom out to the South Australia overview and national statistics for broader context.
It's also worth noting that the Tea Tree Gully LGA average of $1,588 is considerably higher than the Modbury North suburb average of $918 — suggesting that properties within this specific postcode may benefit from more favourable risk factors compared to other parts of the council area.
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Property Features That Affect Your Premium
Several characteristics of this property have a direct bearing on the insurance premium — some working in the owner's favour, others adding complexity.
Brick Veneer Construction & Tiled Roof Brick veneer walls and a tiled roof are generally viewed positively by insurers. Brick veneer offers solid fire resistance and structural durability, while tiles are considered a low-maintenance, long-lasting roofing material. Together, these features typically attract more competitive premiums compared to, say, timber weatherboard or Colorbond alternatives.
Slab Foundation A concrete slab foundation is standard for homes of this era in South Australia and is generally considered stable and low-risk. It eliminates concerns about subfloor moisture or pest damage that can affect raised foundations.
Age of the Property (1970) At over 50 years old, this home falls into a category that insurers scrutinise more carefully. Older properties may have ageing electrical wiring, plumbing, or roofing that increases the likelihood of a claim. This is likely a contributing factor to the premium sitting above the suburb median.
Solar Panels The presence of solar panels adds replacement value to the home and can slightly increase the building sum insured required to achieve adequate coverage. Homeowners should confirm with their insurer that solar panels are explicitly covered under the policy — not all standard building policies include them without a specific mention.
Ducted Climate Control Ducted systems are a significant fixed asset and are typically covered under building insurance. Their inclusion in the sum insured calculation is important — underinsuring a home with ducted air conditioning could leave you short in the event of a total loss.
Granny Flat The presence of a granny flat adds both value and complexity to the insurance equation. Depending on the policy, a secondary dwelling may need to be specifically listed, and the building sum insured should reflect the cost of rebuilding both structures. It's worth double-checking that the $704,000 sum insured accounts for the granny flat as well as the main dwelling.
No Pool, No Cyclone Risk The absence of a pool removes a common liability exposure, and Modbury North's location outside cyclone risk zones means the property avoids the significant premium loadings that apply to properties in northern Australia.
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Tips for Homeowners in Modbury North
1. Review your building sum insured annually With a 277 sqm home, a granny flat, solar panels, and ducted climate control, the cost to rebuild can shift with construction costs and material prices. Make sure your $704,000 sum insured keeps pace — underinsurance is one of the most common and costly mistakes homeowners make.
2. Confirm solar panels are covered Ask your insurer directly whether solar panels are included in your building cover, and under what circumstances. Some policies cover them as a fixed fixture; others may require an endorsement or have specific exclusions for storm or hail damage.
3. Consider a higher excess to reduce your premium If you're in a strong financial position to absorb a larger out-of-pocket cost in the event of a claim, increasing your excess — particularly on the building side — could bring the annual premium down meaningfully. Even shifting from $2,000 to $2,500 or $3,000 can make a noticeable difference.
4. Shop around at renewal time A "Fair" rating means this quote is reasonable, but it's not the sharpest price available. Insurers reprice regularly, and loyalty doesn't always pay. Comparing at least two or three quotes before renewing is one of the simplest ways to avoid overpaying year after year.
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Compare Your Options with CoverClub
Whether you're reviewing an existing policy or starting fresh, CoverClub makes it easy to see how your premium stacks up and find a better deal. Get a home insurance quote today and compare options tailored to your property in Modbury North — it takes just a few minutes and could save you hundreds.