If you own a free standing home in Regents Park, QLD 4118, you're probably curious about what a fair home insurance premium looks like — and whether your current policy is competitive. This article breaks down a real home and contents insurance quote for a five-bedroom, brick veneer home in the suburb, comparing it against local, state, and national benchmarks to help you understand where you stand.
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Is This Quote Fair?
The short answer: yes — and then some. This quote came in at $1,591 per year (or roughly $155 per month), which CoverClub's pricing engine rates as CHEAP — meaning it sits well below the suburb average.
To put that in perspective, the average home and contents premium paid by homeowners in Regents Park is $2,437 per year, with a median of $2,319. That means this quote is approximately $846 cheaper than the local average — a saving of around 35%. Even when compared to the suburb's 25th percentile (the cheapest quarter of quotes), which sits at $1,681 per year, this quote still comes in under that threshold. In other words, this is genuinely one of the more competitive premiums available in the area.
For a property of this size — 214 sqm, five bedrooms, three bathrooms, with a pool, solar panels, and ducted climate control — that's a strong result. The building is insured for $675,000 and contents for $130,000, with a building excess of $2,000 and a contents excess of $1,000.
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How Regents Park Compares
Regents Park sits within the City of Logan LGA, and the broader insurance landscape in this region reflects some of the cost pressures common to South East Queensland. Here's how the numbers stack up across different levels:
| Benchmark | Average Premium | Median Premium |
|---|---|---|
| Regents Park (suburb) | $2,437/yr | $2,319/yr |
| Logan LGA | $4,617/yr | — |
| Queensland (state) | $9,129/yr | $3,903/yr |
| National | $5,347/yr | $2,764/yr |
A few things stand out here. Queensland's average premium of $9,129 is extraordinarily high — largely skewed by cyclone-prone areas in North Queensland, where premiums can be eye-watering. The state median of $3,903 is a more representative figure for South East Queensland residents, and even that is significantly higher than what this Regents Park quote achieved.
The Logan LGA average of $4,617 is also notably elevated compared to the suburb-level figures, suggesting that some postcodes within Logan face considerably higher risk profiles — whether due to flood zones, storm exposure, or higher claims history. Regents Park at 4118 appears to benefit from a more favourable risk assessment within the LGA.
Nationally, the median sits at $2,764 — still well above this quote. You can explore Regents Park suburb insurance stats, Queensland state averages, and national insurance benchmarks on CoverClub to dig deeper into the data.
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Property Features That Affect Your Premium
Every property is different, and insurers weigh up a range of factors when calculating your premium. Here's how the key features of this home likely influence its pricing:
Brick Veneer Walls & Tiled Roof Brick veneer is generally viewed favourably by insurers. It's fire-resistant, durable, and less susceptible to storm damage than lighter cladding materials. Combined with a tiled roof — another robust, long-lasting material — this home presents a solid construction profile that typically attracts lower premiums.
Slab Foundation A concrete slab foundation is standard for Queensland homes built in the 1990s and is generally considered low-risk by insurers. It avoids the potential complications of timber subfloors (such as termite damage or moisture issues), which can affect underwriting decisions.
Built in 1994 At around 30 years old, this home is mature but not aged. Homes from this era were built to reasonable standards, and many have had updates over the years. Insurers may apply modest age loadings, but it's unlikely to be a significant factor here.
Swimming Pool A pool adds both value and complexity to a home insurance policy. It increases the replacement cost of the property and may be subject to specific conditions in the policy (particularly around pool equipment and fencing). It's worth checking that your sum insured adequately accounts for the pool and associated infrastructure.
Solar Panels Solar panels are increasingly common on Queensland homes, and most modern policies cover them as part of the building sum insured. However, it's worth confirming that your insurer explicitly includes solar panels — particularly the inverter and mounting hardware — within the building cover, as some policies treat them differently.
Ducted Climate Control Ducted air conditioning is a significant fixed asset and typically forms part of the building sum insured. Given the Queensland climate, it's an important inclusion, and homeowners should ensure their sum insured reflects the cost of replacing the full system if needed.
No Cyclone Risk Regents Park is not classified as a cyclone risk area, which is a meaningful factor in keeping premiums lower. Cyclone-prone postcodes in North Queensland can face premiums many times higher than those in South East Queensland — so this is a genuine advantage for Regents Park homeowners.
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Tips for Homeowners in Regents Park
1. Review Your Sum Insured Regularly With a building sum insured of $675,000 for a 214 sqm home, the implied rebuild cost is approximately $3,154 per sqm — which is broadly in line with current Queensland construction costs. However, building costs have risen sharply in recent years, so it's worth reassessing your sum insured annually to avoid being underinsured. Use a building cost calculator or speak to a local builder for guidance.
2. Don't Over-Insure Contents The $130,000 contents value is a reasonable estimate for a five-bedroom home, but it's worth doing a proper stocktake. Many Australians either significantly over- or under-estimate their contents. An accurate figure ensures you're not paying for cover you don't need — or worse, finding yourself short at claim time.
3. Consider Your Excess Levels This policy carries a $2,000 building excess and a $1,000 contents excess. Opting for a higher excess is one of the most straightforward ways to reduce your premium. If you have sufficient savings to cover a larger out-of-pocket cost in the event of a claim, raising your excess could yield meaningful annual savings.
4. Compare at Renewal Time Even if your current premium is competitive, insurers regularly adjust their pricing. What's cheap today may not be at your next renewal. Set a reminder to compare quotes on CoverClub before your policy renews — it only takes a few minutes and could save you hundreds of dollars.
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Find Out What You Should Be Paying
Whether you're a first-time buyer or a long-term Regents Park resident, understanding what a fair premium looks like is the first step to making sure you're not overpaying. CoverClub makes it easy to compare home and contents insurance quotes tailored to your property. Get a quote today and see how your current policy stacks up.