North Richmond is a riverside suburb in the Hawkesbury region of NSW, roughly 65 kilometres north-west of Sydney's CBD. It's a leafy, semi-rural community that attracts families looking for space — and a six-bedroom, free-standing home on stumps with brick veneer walls and a Colorbond roof is a quintessential example of what you'll find here. But when it comes to home insurance, size and location come with a price. This article breaks down a recent Home and Contents insurance quote for exactly this type of property, and helps you understand whether the premium stacks up.
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Is This Quote Fair?
The annual premium on this quote comes in at $7,576 per year (or $747 per month), covering a building sum insured of $1,481,000 and contents valued at $188,000, each with a $1,000 excess.
Our price rating for this quote is Expensive — Above Average.
To put that in context: the suburb average for North Richmond (2754) sits at just $2,302 per year, with a median of $1,959. At $7,576, this quote is more than three times the local suburb average. Even at the 75th percentile — meaning 75% of quotes in the area are cheaper — the figure is only $3,047. This quote sits well above that threshold.
That said, it's worth noting that the suburb sample size is relatively small (13 quotes), which means the local averages may not fully capture the range of properties and risk profiles in the area. A six-bedroom home with a high building sum insured is also a fundamentally different proposition to a typical three-bedroom suburban house, so a straight comparison to the suburb median isn't entirely apples-to-apples.
What's more telling is the broader state picture: the NSW state average sits at $9,528 per year, which means this quote actually comes in below the NSW average — a meaningful data point. The NSW median, however, is much lower at $3,770, suggesting the state average is pulled upward by high-value and high-risk properties, of which this may be one.
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How North Richmond Compares
Here's a quick snapshot of where this quote sits across different benchmarks:
| Benchmark | Premium |
|---|---|
| This quote | $7,576/yr |
| North Richmond suburb average | $2,302/yr |
| North Richmond suburb median | $1,959/yr |
| North Richmond 75th percentile | $3,047/yr |
| NSW state average | $9,528/yr |
| NSW state median | $3,770/yr |
| National average | $5,347/yr |
| National median | $2,764/yr |
| Hawkesbury LGA average | $10,350/yr |
Viewed against the national average of $5,347, this quote is above average — but not dramatically so for a large, high-value property. The Hawkesbury LGA average of $10,350 per year is particularly telling: it's higher than both the NSW and national averages, reflecting the elevated flood, bushfire, and weather-related risks that characterise much of the Hawkesbury region. Against that LGA benchmark, this quote of $7,576 actually looks relatively competitive.
The Hawkesbury River catchment is well known for its flood history, and North Richmond itself has experienced significant inundation events. Insurers factor this heavily into their pricing models, which goes a long way toward explaining why premiums across the LGA are so elevated compared to the rest of NSW and the country.
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Property Features That Affect Your Premium
Several characteristics of this property have a direct bearing on the premium quoted.
Size and sum insured: At 235 sqm with six bedrooms and three bathrooms, this is a large home. The building sum insured of $1,481,000 reflects the cost to rebuild — not the market value — and for a property of this scale, that figure is substantial. Higher rebuilding costs mean higher premiums, full stop.
Construction era and materials: Built in 1975, this home predates many modern building codes. Brick veneer external walls are generally well-regarded by insurers for fire resistance, but the combination of a 1975 build with timber and laminate flooring introduces some age-related risk considerations. Older homes can have hidden vulnerabilities — ageing plumbing, wiring, or structural elements — that insurers price into their assessments.
Elevated on stumps: The foundation type — stumps — is common in flood-prone and older Queensland and NSW regional homes. Being elevated by at least one metre can actually work in the homeowner's favour during flood events, potentially reducing inundation damage. However, stumped homes can also be more susceptible to subfloor moisture issues and structural movement over time.
Colorbond roof: Steel roofing is durable and low-maintenance, and generally viewed favourably by insurers. It performs well in high-wind events and is less prone to fire spread than some other roofing materials.
Solar panels: The presence of solar panels adds to the replacement value of the property and may slightly increase the premium, as panels represent a meaningful asset that needs to be covered in the event of storm damage or fire.
Ducted climate control: Similarly, ducted air conditioning is a high-value fixture that adds to the overall cost of reinstatement, and insurers factor this into their calculations.
No pool, not a cyclone risk area: These are both premium-reducing factors. Pools introduce liability and damage risks, and cyclone-rated areas attract significant loading. Neither applies here.
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Tips for Homeowners in North Richmond
1. Review your flood cover carefully. North Richmond has a well-documented flood history. Make sure your policy explicitly includes flood cover — not just storm or rainwater damage — and understand the distinction. Some policies exclude riverine flooding or apply separate sub-limits. Given the Hawkesbury River's track record, this is non-negotiable for properties in this area.
2. Validate your building sum insured. At $1,481,000, the sum insured on this quote is significant. It's worth cross-checking this figure against an independent building replacement cost estimate. Being underinsured is a serious risk — but being significantly over-insured means you're paying more than necessary. Tools like the Cordell Sum Sure calculator can help you arrive at a more precise figure.
3. Compare quotes from multiple insurers. The gap between the cheapest and most expensive quotes for similar properties in North Richmond is wide. Getting multiple quotes through CoverClub takes just a few minutes and can reveal meaningful savings without compromising on cover.
4. Ask about mitigation discounts. Being elevated on stumps is a genuine flood-risk mitigation measure. Some insurers will recognise this with a discount, particularly if you can demonstrate the elevation height. It's worth asking your insurer directly whether this — along with your Colorbond roof and brick veneer walls — qualifies you for any resilience-based pricing benefits.
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Ready to See What You Could Pay?
Whether you're insuring a large family home in North Richmond or simply reviewing your existing policy, comparing quotes is the smartest first step. CoverClub makes it easy to see real premium data for your suburb and get quotes tailored to your property. Start your comparison today — it only takes a few minutes and could save you hundreds of dollars a year.