If you own a free standing home in Pimlico, NSW 2478, you already know this corner of the Northern Rivers region has a lot going for it — leafy streets, a relaxed lifestyle, and proximity to Lismore. But when it comes to home insurance, Pimlico sits in a part of New South Wales where premiums can climb well above what most Australians pay. This article breaks down a real home and contents insurance quote for a five-bedroom property in the suburb, compares it against local, state, and national benchmarks, and offers practical guidance for homeowners looking to get better value on their cover.
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Is This Quote Fair?
The quote in question comes in at $34,731 per year (or $3,389 per month) for a combined home and contents policy. The building is insured for $944,000 and contents for $50,000, with a $3,000 building excess and a $1,000 contents excess.
Our price rating for this quote is EXPENSIVE — above average for the area.
To put that in perspective: the suburb average premium in Pimlico is $7,322 per year, and the median sits at $6,207. This quote is roughly 4.7 times the suburb average — a significant gap that warrants a closer look. Even accounting for the high building sum insured of $944,000, the premium is well outside the typical range for comparable properties in the postcode.
It's worth noting that the suburb sample size is relatively small (13 quotes), so the local data should be treated as indicative rather than definitive. That said, the gap between this quote and the broader benchmarks is large enough to suggest that shopping around could yield meaningful savings.
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How Pimlico Compares
Understanding where Pimlico sits in the broader insurance landscape helps put any individual quote into context.
| Benchmark | Average Premium | Median Premium |
|---|---|---|
| Pimlico (2478) | $7,322/yr | $6,207/yr |
| LGA (Ballina) | $5,517/yr | — |
| NSW | $3,801/yr | $3,410/yr |
| National | $2,965/yr | $2,716/yr |
Even at the suburb average, Pimlico homeowners pay nearly twice the NSW state average and more than 2.5 times the national median. This reflects a combination of factors common to the Northern Rivers — flood risk, storm exposure, and the general cost of rebuilding in regional areas.
You can explore detailed premium data for the suburb on our Pimlico insurance stats page, compare it against NSW-wide figures, or see how the region stacks up against national averages.
The 25th to 75th percentile range for Pimlico runs from $4,987 to $8,129 per year — meaning most homeowners in the suburb are paying somewhere in that band. A quote of $34,731 sits dramatically above even the top of that range, which reinforces the case for comparing alternatives.
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Property Features That Affect Your Premium
Several characteristics of this property influence how insurers assess risk and calculate premiums.
Double Brick Construction
Double brick walls are generally viewed favourably by insurers. They offer strong resistance to fire, wind, and general wear, which can help moderate premiums compared to timber-framed or clad homes. This is a positive factor for this property.
Tiled Roof
A tiled roof is considered a durable, low-risk roofing material by most Australian insurers. Compared to older corrugated iron or asbestos roofing, tiles tend to attract more competitive rates — another point in this property's favour.
Slab Foundation
Concrete slab foundations are standard across much of regional NSW and are generally well-regarded by insurers. They offer good structural integrity, though they can be more expensive to repair if issues arise.
Solar Panels
This property has solar panels installed. While solar panels themselves add some replacement cost to a claim, most insurers cover them under the building policy as a fixed structure. It's worth confirming your policy explicitly covers solar panels and inverters, as coverage terms vary between providers.
Construction Year: 1989
Homes built in the late 1980s are generally past the stage where major structural concerns arise, but they may have older electrical wiring, plumbing, or roofing components that could influence underwriting decisions. An updated electrical switchboard, for instance, can sometimes help reduce premiums.
Building Size: 277 sqm
At 277 square metres, this is a sizeable home. Larger floor areas mean higher rebuild costs, which directly affects the sum insured and, in turn, the premium. The $944,000 building sum insured reflects this — and getting that figure right is crucial. Over-insuring inflates your premium unnecessarily, while under-insuring can leave you significantly out of pocket after a major claim.
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Tips for Homeowners in Pimlico
1. Review Your Sum Insured Carefully
The single biggest lever on your building premium is the sum insured. Make sure your $944,000 figure reflects the actual cost to rebuild — not the market value of the property. Consider using a quantity surveyor or your insurer's rebuild cost calculator to validate the figure. If it's higher than necessary, you may be paying more than you need to.
2. Shop Around — Seriously
Given how far above the local average this quote sits, comparing policies from multiple insurers is essential. Premiums for the same property can vary enormously between providers, and CoverClub makes it straightforward to get a quote and compare your options in one place.
3. Adjust Your Excess Strategically
A $3,000 building excess is already on the higher side, which should be helping to reduce the premium. If you're comfortable taking on more risk in exchange for a lower annual cost, increasing your excess further could provide some relief — but make sure you'd genuinely be able to cover it in the event of a claim.
4. Check What's Included in Your Contents Cover
With $50,000 in contents cover, it's worth doing a proper stocktake of your belongings to make sure that figure is accurate. Contents insurance is often underestimated, but it can also be over-estimated. If $50,000 is more than you actually need, reducing this figure could trim your overall premium.
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Ready to Compare?
Whether you're looking to benchmark your existing policy or find a better deal from scratch, CoverClub gives you access to real quote data for homes across Australia. Get a home insurance quote for your Pimlico property and see how the market compares — you might be surprised by how much room there is to save.