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 you're paying too much or getting a genuine deal. This article breaks down a real home and contents insurance quote for a four-bedroom property in the suburb, comparing it against local, 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 to $1,608 per year (or roughly $154 per month) for a combined home and contents policy, covering a building sum insured of $550,000 and $50,000 in contents. Both the building and contents excess sit at $2,000.
Our price rating for this quote is CHEAP — below average for the area. That's a meaningful result. Based on 114 quotes collected for Regents Park, the suburb average premium sits at $2,437 per year and the median at $2,319 per year. This quote comes in well below both figures — even falling under the 25th percentile threshold of $1,681 per year, meaning it's cheaper than at least 75% of comparable quotes in the suburb.
In plain terms: if this quote were a race, it would be near the front of the pack. Homeowners in Regents Park paying closer to the suburb average are spending over $800 more per year for similar cover. That's a significant saving worth paying attention to.
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How Regents Park Compares
To put this quote in broader context, it helps to look beyond the suburb boundary.
| Benchmark | Premium |
|---|---|
| This Quote | $1,608/yr |
| Regents Park Suburb Average | $2,437/yr |
| Regents Park Suburb Median | $2,319/yr |
| Logan LGA Average | $4,617/yr |
| QLD State Average | $9,129/yr |
| QLD State Median | $3,903/yr |
| National Average | $5,347/yr |
| National Median | $2,764/yr |
The numbers tell a striking story. Queensland is one of the most expensive states in Australia for home insurance — the QLD state average of $9,129 per year is nearly double the national average of $5,347. This is largely driven by the state's exposure to extreme weather events, including flooding, cyclones, and severe storms in higher-risk postcodes.
Regents Park, however, sits in a relatively more affordable pocket of Queensland. The suburb's average of $2,437 is well below the QLD state average, and this particular quote undercuts even that favourable local benchmark. At $1,608, it also beats the national median of $2,764 — which is a notable achievement for a Queensland address.
It's worth noting that the Logan LGA average of $4,617 is considerably higher than the Regents Park suburb average, suggesting there is meaningful variation within the broader Logan region. Regents Park appears to benefit from a lower perceived risk profile compared to some neighbouring areas.
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Property Features That Affect Your Premium
Several characteristics of this property are likely contributing to the competitive premium.
Brick Veneer Walls & Colorbond Roof Brick veneer is one of the most common and well-regarded construction types in Australian suburbs. It offers solid structural integrity and reasonable fire resistance, which insurers tend to reward with more competitive pricing. The steel Colorbond roof is similarly viewed favourably — it's durable, low-maintenance, and performs well in storms compared to older tile or fibrous cement alternatives.
Slab Foundation A concrete slab foundation is standard for homes of this era and is generally considered a lower-risk foundation type. Unlike raised timber stumps, slabs are less susceptible to termite damage and subsidence in stable soil conditions.
Construction Year: 1995 At roughly 30 years old, this home sits in a sweet spot for insurers. It's modern enough to have been built under relatively robust building codes, yet old enough that any early construction issues would likely have already surfaced. Homes built before the mid-1980s can sometimes attract higher premiums due to older wiring or plumbing.
No Pool, No Solar Panels Both pools and solar panel systems can add complexity — and cost — to a home insurance policy. The absence of both here simplifies the risk profile and keeps the premium lean.
Ducted Climate Control Ducted air conditioning is a valuable inclusion in the building sum insured. At $550,000, the building cover appears to account for this fixed asset, which is important — underinsurance is a common and costly mistake.
Vinyl Flooring While not a major premium driver, vinyl flooring is relatively inexpensive to replace compared to hardwood timber or polished concrete, which can subtly influence contents and building repair cost estimates.
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Tips for Homeowners in Regents Park
1. Review your sum insured annually Building costs in South East Queensland have risen sharply in recent years. A sum insured of $550,000 may be appropriate today, but it's worth recalculating your rebuild cost each year — particularly if you've done renovations or if local construction costs have shifted. Underinsurance can leave you significantly out of pocket after a major claim.
2. Don't overlook contents cover $50,000 in contents cover is a reasonable starting point, but it's easy to underestimate the replacement value of everything inside your home. Walk through each room and tally up electronics, furniture, appliances, clothing, and valuables. Many Australians discover they need considerably more than their initial estimate.
3. Compare quotes before renewal Even if your current premium is below average, insurers can increase rates at renewal without much fanfare. Shopping around annually — even just to confirm you're still getting value — is one of the simplest ways to keep your insurance costs in check. Get a new quote at CoverClub to see how your current policy stacks up.
4. Check your excess settings Both the building and contents excess on this policy are set at $2,000. A higher excess generally means a lower premium, but it also means more out-of-pocket expense when you make a claim. Make sure your excess level reflects what you could comfortably afford to pay in an emergency — especially for contents, where smaller claims are more common.
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Ready to See What You Could Be Paying?
Whether you're a first-time buyer in Regents Park or a long-time homeowner wondering if your renewal premium is still competitive, CoverClub makes it easy to compare home insurance quotes in one place. You can also explore detailed suburb-level insurance data for Regents Park or browse QLD state insurance statistics to understand the broader pricing landscape.