If you own a free standing home in Parkwood, WA 6147, you're probably wondering whether the insurance premium you've been quoted is reasonable — or whether you're paying more than you should. This article breaks down a real home and contents insurance quote for a three-bedroom, double brick home in Parkwood, comparing it against suburb, state, and national benchmarks to help you make a more informed decision.
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Is This Quote Fair?
The quote in question comes in at $1,923 per year (or $184 per month) for combined home and contents cover, with a building sum insured of $550,000 and contents valued at $150,000. Both the building and contents excess are set at $1,000.
Based on our pricing data, this quote is rated Expensive — above average for the Parkwood area.
The suburb average sits at just $1,549 per year, and the median is nearly identical at $1,552. That means this quote is approximately $374 more per year than what most Parkwood homeowners are paying — a difference of around 24%. That's a meaningful gap, and one worth investigating before you commit to a policy.
That said, "expensive" doesn't automatically mean "wrong." A higher premium can reflect a more comprehensive policy, broader inclusions, lower sub-limits, or simply a different insurer's risk appetite. Before dismissing the quote, it's worth checking exactly what's covered — and what isn't.
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How Parkwood Compares
To put this quote in proper context, here's how Parkwood stacks up against broader benchmarks:
| Benchmark | Average Premium |
|---|---|
| Parkwood (suburb average) | $1,549/yr |
| Parkwood (suburb median) | $1,552/yr |
| LGA — City of Gosnells | $1,427/yr |
| Western Australia (state average) | $2,811/yr |
| Western Australia (state median) | $2,127/yr |
| National average | $5,347/yr |
| National median | $2,764/yr |
Source: [Parkwood suburb insurance data](https://coverclub.com.au/stats/WA/6147/parkwood) | [WA state insurance stats](https://coverclub.com.au/stats/WA) | [National insurance stats](https://coverclub.com.au/stats/national)
A few things stand out here. First, Parkwood is genuinely one of the more affordable suburbs to insure in Western Australia. The suburb average of $1,549 is well below the WA state median of $2,127, and dramatically lower than the national median of $2,764. Homeowners in Parkwood benefit from a relatively low-risk profile — no cyclone exposure, established suburban infrastructure, and predominantly solid brick construction.
Second, the quote of $1,923 sits above the suburb's 75th percentile of $1,560, meaning it's higher than at least three-quarters of quotes collected in the area. That's a useful signal that there may be room to negotiate or shop around.
The City of Gosnells LGA average of $1,427 is even lower than the Parkwood suburb average, suggesting the broader region is considered quite low risk by insurers overall.
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Property Features That Affect Your Premium
Several characteristics of this property will influence how insurers price the risk. Here's what's relevant:
Double Brick Construction Double brick is widely regarded as one of the most durable and fire-resistant wall materials available in Australian residential construction. Insurers typically view it favourably, which can help keep premiums lower compared to timber-framed or clad homes.
Tiled Roof Terracotta or concrete tile roofs are considered solid performers in terms of longevity and weather resistance. They're generally well-regarded by insurers, though older tiles can be prone to cracking or slipping — worth keeping in mind for a home built in 1977.
Construction Year: 1977 At nearly 50 years old, this home is approaching a point where wear and tear on key systems — plumbing, electrical wiring, and the roof structure — may start to attract insurer scrutiny. Some providers apply loadings to older homes, which could partially explain the above-average premium.
Slab Foundation A concrete slab foundation is standard in WA and generally considered low-risk, with no particular premium impact compared to pier or stump foundations.
Ducted Climate Control The presence of ducted air conditioning adds to the overall replacement value of the home and its contents, and may contribute modestly to the premium. It's a fixed installation that would need to be reinstated in the event of a total loss.
No Pool, No Solar Panels The absence of a pool removes a common liability exposure, and no solar panels means one less system to insure or replace. Both factors work in the homeowner's favour from a pricing perspective.
Building Size: 130 sqm At 130 square metres, this is a modest-sized home. The $550,000 building sum insured equates to a rebuild cost of roughly $4,230 per square metre — which is within a reasonable range for Perth, particularly given the elevated construction costs seen across Australia in recent years.
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Tips for Homeowners in Parkwood
If you're looking to get better value on your home and contents insurance, here are a few practical steps worth considering:
1. Shop around and compare multiple quotes The gap between the cheapest and most expensive quote in Parkwood can be significant. Use a comparison tool like CoverClub to see what multiple insurers would charge for the same property and level of cover.
2. Review your sum insured carefully Make sure your building sum insured reflects the actual cost to rebuild — not the market value of the property. Over-insuring pushes your premium up unnecessarily, while under-insuring leaves you exposed. Consider using a building cost calculator or speaking with a quantity surveyor if you're unsure.
3. Consider a higher excess If you can comfortably absorb a larger out-of-pocket cost in the event of a claim, increasing your excess from $1,000 to $2,000 or more can noticeably reduce your annual premium. This is a particularly effective lever for homeowners who haven't made a claim in years.
4. Maintain the property proactively For a home built in the late 1970s, keeping on top of maintenance — particularly the roof, gutters, and any ageing plumbing — can reduce the likelihood of a claim and may support a better risk profile with your insurer over time. Some insurers also offer loyalty discounts or no-claims bonuses that reward claim-free histories.
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Ready to Find a Better Deal?
Whether this quote feels right or a little steep, it always pays to compare. At CoverClub, we make it easy to see how your premium stacks up and explore alternatives — all in one place. Get a home insurance quote for your Parkwood property today and find out if you could be paying less for the same level of protection.
You can also explore detailed insurance pricing data for Parkwood, Western Australia, and across Australia to benchmark your own policy.