If you own a free standing home in Redland Bay, QLD 4165, you've probably noticed that home insurance premiums can vary quite a bit depending on who you ask. This article breaks down a real home and contents insurance quote for a four-bedroom, two-bathroom brick veneer home in the suburb — and puts the numbers into context against local, state, and national benchmarks. Whether you're renewing your policy or shopping around for the first time, understanding what's driving your premium is the first step to making a smarter decision.
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Is This Quote Fair?
The quote in question sits at $2,707 per year (or $259 per month) for combined home and contents cover, with a building sum insured of $665,000 and contents valued at $50,000. Both the building and contents excess are set at $1,000.
Our price rating for this quote is FAIR — Around Average. That assessment is backed by real data: based on 89 quotes collected for Redland Bay (postcode 4165), the suburb average sits at $3,184/yr and the median at $3,132/yr. This quote comes in noticeably below both figures, landing closer to the 25th percentile of $2,378/yr than the upper end.
In practical terms, this means the homeowner is paying less than the majority of comparable properties in the suburb — a solid outcome. It's not rock-bottom pricing, but it's comfortably below average, which earns it a "Fair" rating rather than "Great" only because there's still room to potentially do better with the right insurer.
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How Redland Bay Compares
To fully appreciate where this quote lands, it helps to zoom out and look at the broader picture.
| Benchmark | Premium |
|---|---|
| This Quote | $2,707/yr |
| Redland Bay Suburb Average | $3,184/yr |
| Redland Bay Suburb Median | $3,132/yr |
| Redland LGA Average | $3,178/yr |
| QLD State Median | $3,903/yr |
| QLD State Average | $9,129/yr |
| National Median | $2,764/yr |
| National Average | $5,347/yr |
A few things stand out here. First, Queensland's state average of $9,129/yr is dramatically higher than both the suburb average and this individual quote. That figure is heavily skewed by high-risk areas — particularly cyclone-prone regions in Far North Queensland — which pull the mean upward significantly. The QLD state median of $3,903/yr is a more representative number for most Queensland homeowners, and this quote still comes in well below it.
Compared to national figures, the quote also performs well. The national median is $2,764/yr, meaning this Redland Bay home is priced just slightly below the national midpoint — a reasonable result for a well-appointed suburban property in a bayside Queensland location.
The Redland LGA average of $3,178/yr aligns closely with the suburb-level data, suggesting Redland Bay is fairly representative of the broader local government area when it comes to insurance pricing.
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Property Features That Affect Your Premium
Several characteristics of this property influence where the premium lands — some favourably, others less so.
Brick veneer construction with a Colorbond steel roof is generally well-regarded by insurers. Brick veneer offers solid fire resistance and structural durability, while Colorbond roofing is lightweight, corrosion-resistant, and performs well in Australian conditions. Together, these materials typically attract more competitive premiums compared to, say, weatherboard cladding or older tile roofs.
Slab foundation is another positive signal for insurers. Slab-on-ground construction reduces the risk of subfloor moisture issues and is common in post-2000 Queensland homes. Combined with the 2006 construction year, this property sits in a sweet spot — modern enough to meet contemporary building codes, but not brand new (which can sometimes inflate replacement cost estimates).
Timber and laminate flooring can be a mild cost factor for contents and building cover, as these materials are more susceptible to water damage than tiles. It's worth ensuring your sum insured accounts for the cost of replacing these floors in a worst-case scenario.
Solar panels add value to the property but also add a small layer of complexity to insurance. Most policies cover solar panels as part of the building sum insured, but it's worth confirming with your insurer that the panels and inverter are explicitly included — and that the $665,000 building sum insured is sufficient to cover their replacement cost alongside the rest of the structure.
Ducted climate control is another fixed asset that should be factored into your building sum insured. These systems can cost several thousand dollars to replace and are typically covered under building rather than contents.
Notably, the absence of a pool simplifies the risk profile slightly, and the property is not in a designated cyclone risk zone — a meaningful factor in Queensland, where cyclone cover can significantly inflate premiums for properties further north.
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Tips for Homeowners in Redland Bay
1. Review your building sum insured regularly Construction costs have risen sharply in recent years. A $665,000 sum insured may have been accurate at the time of the original quote, but it's worth running a building replacement cost estimate annually to make sure you're not underinsured. Underinsurance is one of the most common — and costly — mistakes homeowners make.
2. Confirm solar panel coverage with your insurer Don't assume your solar system is automatically covered. Ask your insurer specifically whether the panels, inverter, and mounting hardware are included in the building sum insured, and whether damage from storms or power surges is covered.
3. Compare quotes at renewal time A "Fair" rating is a good result, but the insurance market changes constantly. Spending 15 minutes comparing quotes before your renewal date could save you hundreds of dollars. Use CoverClub to compare quotes for your Redland Bay property and see how your current premium stacks up.
4. Consider your excess settings Both the building and contents excess on this policy are set at $1,000. Opting for a higher excess (say, $2,000) can meaningfully reduce your annual premium — just make sure you're comfortable covering that amount out of pocket if you need to make a claim.
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Get a More Accurate Quote for Your Home
Every property is different, and the best way to know whether you're getting a fair deal is to compare. CoverClub aggregates real insurance data from across Australia to help homeowners like you benchmark their premiums against the market. Start a quote comparison for your Redland Bay home today and see what you could be paying — you might be surprised by the difference.