If you own a free standing home in North Richmond, NSW 2754, you're probably curious about whether your home insurance premium is reasonable — or whether you're paying more than you should. Located in the Hawkesbury local government area, North Richmond sits along the Hawkesbury River and is a suburb that carries some unique risk characteristics that insurers take seriously. This article breaks down a real building-only insurance quote for a three-bedroom, brick veneer home in the area, and puts it in context against suburb, state, and national benchmarks.
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Is This Quote Fair?
The quote in question is $2,174 per year (or about $208/month) for building-only cover on a free standing home, with a building sum insured of $650,000 and a $2,000 excess.
Our pricing analysis rates this quote as FAIR — Around Average. That's a reasonable outcome for a property of this type and location. It's not a bargain, but it's also not cause for concern. The quote sits comfortably within the normal range for the suburb, suggesting the insurer has priced the risk in line with the local market rather than applying a significant loading or offering an unusually steep discount.
For homeowners, a "Fair" rating means you're not being overcharged, but there may still be room to do better with a different provider — particularly if your circumstances have changed recently or you haven't compared quotes in a while.
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How North Richmond Compares
To understand whether $2,174 is genuinely competitive, it helps to look at the broader data. Here's how this quote stacks up:
| Benchmark | Premium |
|---|---|
| This quote | $2,174/yr |
| Suburb average (North Richmond) | $2,302/yr |
| Suburb median (North Richmond) | $1,959/yr |
| Suburb 25th percentile | $1,559/yr |
| Suburb 75th percentile | $3,047/yr |
| NSW average | $9,528/yr |
| NSW median | $3,770/yr |
| National average | $5,347/yr |
| National median | $2,764/yr |
| Hawkesbury LGA average | $10,350/yr |
Based on [North Richmond suburb data](https://coverclub.com.au/stats/NSW/2754/north-richmond) from 13 quotes, [NSW state data](https://coverclub.com.au/stats/NSW), and [national benchmarks](https://coverclub.com.au/stats/national).
A few things stand out here. First, this quote is below the suburb average of $2,302 and also below the national median of $2,764 — both positive signs. However, it sits above the suburb median of $1,959, which means roughly half of North Richmond homeowners in our dataset are paying less.
The most striking figure is the Hawkesbury LGA average of $10,350/yr and the NSW state average of $9,528/yr. These are significantly higher than what this homeowner is paying, which reflects the fact that the LGA and state averages are heavily influenced by high-risk properties — particularly those in flood-prone areas along the Hawkesbury River corridor, which can attract very high premiums. Properties with lower risk profiles, like this one, tend to land well below those averages.
The spread within North Richmond itself is also worth noting: the gap between the 25th percentile ($1,559) and 75th percentile ($3,047) is quite wide, suggesting that individual property risk factors and insurer pricing strategies vary considerably in this suburb.
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Property Features That Affect Your Premium
Several characteristics of this property influence how insurers calculate the premium:
Brick Veneer Construction Brick veneer is one of the most common wall materials in Australian suburban homes and is generally viewed favourably by insurers. It offers solid fire resistance compared to timber-framed or clad exteriors, which typically translates to lower premiums.
Tiled Roof Terracotta or concrete tiles are considered a durable, low-risk roofing material. They perform well in most weather conditions and are less susceptible to fire than corrugated iron or Colorbond in some scenarios, though they can be vulnerable to hail damage. Overall, tiles are a neutral-to-positive factor for insurers.
Concrete Slab Foundation A slab foundation is standard for homes built in the late 1990s and is generally considered a stable, low-maintenance base. It reduces the risk of subsidence-related claims compared to older stumped or pier-and-beam foundations.
Construction Year: 1999 A home built in 1999 is relatively modern and would have been constructed under building codes that introduced improved structural and fire safety standards. This is a positive factor for insurers compared to older homes, which may have outdated wiring, plumbing, or materials.
Ducted Climate Control The presence of a ducted climate control system adds to the replacement value of the home and is factored into the sum insured. It's worth ensuring your $650,000 sum insured adequately reflects the cost of replacing this system as part of a full rebuild.
No Pool, No Solar Panels The absence of a pool removes a liability risk that some insurers price in. Similarly, no solar panels means there's no additional exposure from rooftop electrical systems — a minor but relevant consideration.
Building Size: 389 sqm At 389 sqm, this is a larger-than-average footprint. The sum insured of $650,000 works out to roughly $1,670 per sqm, which is within a plausible range for a standard-quality rebuild in regional NSW, though homeowners should periodically verify this figure against current construction costs.
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Tips for Homeowners in North Richmond
1. Check Your Flood Risk Status The Hawkesbury region has a well-documented history of flooding, and flood cover can significantly affect premiums. If your property is in a lower-risk flood zone, confirm with your insurer that flood cover is included (or excluded) as appropriate, and make sure your policy reflects your actual risk level rather than a blanket loading.
2. Review Your Sum Insured Annually Construction costs in NSW have risen sharply in recent years. A sum insured of $650,000 may have been accurate at policy inception, but it's worth reassessing each year — particularly given the size of this home. Underinsurance is one of the most common and costly mistakes homeowners make.
3. Compare Quotes Before Renewal The wide premium spread in North Richmond (from $1,559 to $3,047 at the 25th and 75th percentiles) shows that different insurers price this suburb very differently. Shopping around at renewal time — rather than simply accepting the renewal offer — can yield meaningful savings without sacrificing cover quality.
4. Consider Your Excess Level This policy carries a $2,000 building excess. A higher excess generally reduces your annual premium, which can make sense if you have the financial buffer to cover it in the event of a claim. Conversely, if cash flow is a concern, a lower excess (with a slightly higher premium) may be more appropriate.
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Compare Home Insurance Quotes in North Richmond
Whether you're reviewing an existing policy or shopping for the first time, CoverClub makes it easy to compare building and contents insurance quotes from multiple insurers in one place. Get a quote for your North Richmond home today and see how your current premium stacks up against the market — it only takes a few minutes and could save you hundreds.