If you own a free standing home in Mount Stuart, TAS 7000, you might be wondering 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 3-bedroom, 1-bathroom weatherboard home in this inner-Hobart suburb, compares it against state and national benchmarks, and offers practical tips to help you get the best possible cover.
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Is This Quote Fair?
The short answer: yes — and then some. This quote comes in at $1,342 per year (or $131 per month) for combined home and contents insurance, covering a building sum insured of $851,000 and contents valued at $83,000. Our price rating for this quote is CHEAP — below average — meaning it sits well beneath what most homeowners across Tasmania and Australia are paying for comparable cover.
To put that in perspective, the Tasmania state average sits at $2,458 per year, with a median of $2,272. Nationally, the average home insurance premium is even higher at $2,965 per year, with a median of $2,716. This homeowner is paying roughly 45% less than the Tasmanian average and nearly 55% less than the national average — a significant saving by any measure.
The building excess of $2,000 and contents excess of $1,000 are fairly standard for Australian home insurance policies. A higher excess is one way insurers offer lower premiums, so it's worth factoring that trade-off into your thinking — but even accounting for that, this quote represents strong value.
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How Mount Stuart Compares
Mount Stuart is a leafy, elevated suburb sitting just west of the Hobart CBD, popular with families and professionals who appreciate its character homes and city proximity. While suburb-level insurance data isn't available for this postcode at this time, we can benchmark against the broader Hobart LGA and state figures.
| Benchmark | Annual Premium |
|---|---|
| This Quote | $1,342 |
| Hobart LGA Average | $2,672 |
| TAS State Average | $2,458 |
| TAS State Median | $2,272 |
| National Average | $2,965 |
| National Median | $2,716 |
The Hobart LGA average of $2,672 is notably higher than the Tasmanian state average, which suggests that properties within greater Hobart tend to attract somewhat higher premiums — possibly due to higher rebuild costs, heritage considerations, or the mix of older housing stock in the area. Against that local benchmark, this quote is even more impressive, coming in at almost half the Hobart LGA average.
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Property Features That Affect Your Premium
Several characteristics of this property influence the final premium — some favourably, some less so. Here's how the key features stack up:
🏠 Weatherboard Construction
Weatherboard timber walls are common in older Tasmanian homes and can attract slightly higher premiums than brick veneer or brick construction, primarily due to greater fire risk and susceptibility to moisture damage over time. However, a well-maintained weatherboard home can still be very insurable at competitive rates.
🏗️ Age of the Home (Built 1961)
At over 60 years old, this home is a period property. Older homes can cost more to insure because of higher rebuild costs — sourcing period-appropriate materials and trades isn't always cheap. That said, the sum insured of $851,000 appears to reflect this, and the premium remains very competitive.
🔩 Steel / Colorbond Roof
This is a genuine premium-reducing factor. Colorbond steel roofing is highly durable, fire-resistant, and low-maintenance compared to older materials like terracotta tiles or asbestos cement sheeting. Insurers generally view it favourably, and it likely contributes to the competitive rate here.
🪵 Timber / Laminate Flooring
Timber floors in older homes can be a double-edged sword — they add character and value but may be costly to repair or replace after water damage or impact events. With above-average fittings quality noted for this property, the contents and building values are appropriately set to reflect the home's finish.
📐 Elevated on Stumps
The home sits elevated on stumps by less than 1 metre. Stump foundations are characteristic of many older Tasmanian and southern Australian homes and can actually help with underfloor ventilation and flood resilience at low elevation. This modest elevation is unlikely to significantly increase premiums, and may assist with drainage in wet weather.
✅ No Pool, No Solar, No Cyclone Risk
The absence of a swimming pool removes a common liability risk factor. No solar panels means no additional equipment to insure. And critically, Mount Stuart falls outside cyclone risk zones — a significant advantage compared to properties in northern Australia where cyclone loading can dramatically inflate premiums.
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Tips for Homeowners in Mount Stuart
Whether you're renewing your policy or shopping around for the first time, here are four practical steps to make sure you're getting the right cover at the right price.
1. Review your sum insured annually Building costs in Tasmania have risen steadily in recent years. A sum insured of $851,000 for a 160 sqm weatherboard home with above-average fittings seems reasonable, but it's worth checking against a professional rebuild cost estimate — especially as labour and materials costs continue to shift. Being underinsured can leave you significantly out of pocket after a major claim.
2. Maintain your weatherboard exterior Insurers may scrutinise the condition of timber-clad homes at claim time. Keeping your weatherboards painted, sealed, and free from rot not only protects the structure but demonstrates good maintenance — which can support your claim if damage occurs.
3. Consider your excess carefully This policy carries a $2,000 building excess. While a higher excess reduces your premium, make sure you could comfortably cover that amount out of pocket in an emergency. If cash flow is a concern, it may be worth exploring policies with a lower excess, even if the annual premium is slightly higher.
4. Compare quotes before renewing Insurance loyalty rarely pays. Insurers often offer their best rates to new customers, meaning long-term policyholders can end up paying more for the same cover. Comparing quotes through CoverClub takes minutes and could uncover significant savings — as this quote clearly demonstrates.
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Ready to See What You Could Pay?
Whether you're a Mount Stuart local or anywhere else in Australia, it pays to compare. CoverClub makes it easy to benchmark your home insurance premium against real data from your suburb, LGA, and state — so you always know if you're getting a fair deal. Get a quote today and find out how much you could save.