If you own a free standing home in Regents Park, QLD 4118, understanding what a fair home insurance premium looks like can save you hundreds of dollars a year — or at least give you the confidence that you're not overpaying. In this article, we analyse a real home and contents insurance quote for a four-bedroom property in the suburb, and compare 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 in at $2,080 per year (or $209/month) for combined home and contents cover, with a building sum insured of $772,000 and contents valued at $50,000. The building excess is $3,000 and the contents excess sits at $1,000.
Our price rating for this quote is FAIR — Around Average.
That assessment holds up well under scrutiny. At $2,080 per year, this premium sits comfortably below the suburb average of $3,110/yr for Regents Park and also below the suburb median of $2,410/yr. In practical terms, this homeowner is paying less than what most of their neighbours are paying — which is a solid outcome.
That said, "fair" doesn't mean "the cheapest available." The suburb's 25th percentile sits at $1,744/yr, meaning roughly one in four quotes in Regents Park come in below that figure. There is still room to potentially find a lower premium by shopping around, though the savings gap may narrow once you account for differences in cover limits, excesses, and policy inclusions.
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How Regents Park Compares
To put this quote in proper context, it helps to zoom out and look at the broader picture.
| Benchmark | Premium |
|---|---|
| This Quote | $2,080/yr |
| Regents Park Suburb Average | $3,110/yr |
| Regents Park Suburb Median | $2,410/yr |
| Logan LGA Average | $4,617/yr |
| QLD State Average | $4,547/yr |
| QLD State Median | $3,931/yr |
| National Average | $2,965/yr |
| National Median | $2,716/yr |
The numbers tell an interesting story. Queensland is one of the most expensive states in the country for home insurance, largely driven by the elevated risk of severe weather events — cyclones, floods, and storms — across much of the state. The QLD state average of $4,547/yr is significantly higher than the national average of $2,965/yr, reflecting this elevated risk profile.
Regents Park, however, sits in the southern suburbs of Brisbane within the Logan LGA — a region that, while not immune to storm and flood risk, generally fares better than coastal or far-north Queensland locations. The suburb average of $3,110/yr is well below both the QLD state average and the Logan LGA average of $4,617/yr, suggesting that Regents Park is considered a comparatively lower-risk pocket within the broader Queensland context.
At $2,080/yr, this particular quote beats every benchmark in the table — a genuinely competitive result for the area.
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Property Features That Affect Your Premium
Several characteristics of this property will have influenced the final premium, and it's worth understanding how.
Brick Veneer Walls & Tiled Roof Brick veneer construction with a tiled roof is generally viewed favourably by insurers. These materials offer good resistance to fire and are considered more durable than lightweight alternatives like weatherboard or Colorbond in some risk scenarios. This combination typically attracts more competitive premiums compared to timber-framed or older construction types.
Slab Foundation A concrete slab foundation is a standard, well-regarded construction method for homes built in this era. Unlike elevated stumped foundations, slab homes have less exposure to underfloor flooding or pest intrusion, which can positively influence pricing.
Elevated by At Least 1 Metre Despite having a slab foundation, this property is noted as being elevated by at least one metre. This is a meaningful feature in Queensland, where flood and stormwater inundation is a genuine risk. Elevation can reduce the likelihood of water entering the home during a flood event, and many insurers factor this in when calculating premiums.
Construction Year: 2008 A home built in 2008 benefits from relatively modern building standards, including updated cyclone and structural codes that were progressively tightened in Queensland following major weather events. Newer homes often attract lower premiums than older stock that may require more maintenance or lack modern safety features.
Solar Panels This property has solar panels installed. While solar adds value to a home, it also adds replacement cost in the event of damage. Homeowners should confirm that their policy explicitly covers solar panels — both the panels themselves and any inverter equipment — as coverage can vary between insurers.
Ducted Climate Control Ducted air conditioning is a significant fixed asset and should be covered under the building sum insured. At $772,000, the building cover here appears appropriately sized for a 214 sqm home in this suburb, but it's always worth reviewing your sum insured periodically to ensure it reflects current rebuilding costs, including any installed systems.
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Tips for Homeowners in Regents Park
1. Review Your Sum Insured Annually Building costs have risen sharply across Australia in recent years. A sum insured that was accurate two years ago may now be insufficient to cover a full rebuild. Use an independent building cost calculator or speak with a quantity surveyor to make sure your $772,000 cover still reflects current construction rates in South-East Queensland.
2. Confirm Solar Panel Coverage With solar panels on the roof, double-check the fine print of any policy you consider. Some insurers include solar as standard under building cover; others treat it as an optional add-on or exclude certain components. Getting clarity upfront avoids a nasty surprise at claim time.
3. Consider Your Excess Strategy This quote carries a $3,000 building excess — higher than the industry norm. A higher excess typically lowers your annual premium, which can be a smart trade-off if you're unlikely to make small claims. However, make sure you're genuinely comfortable covering that amount out of pocket before a claim is settled.
4. Shop Around at Renewal Even with a fair-rated premium, the insurance market changes every year. Insurers adjust their risk models, introduce new discounts, and reprice entire suburbs based on updated claims data. Comparing quotes through CoverClub at each renewal takes only a few minutes and could reveal a meaningfully better deal — particularly given how wide the spread is in Regents Park (25th percentile: $1,744/yr vs 75th percentile: $3,582/yr).
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Compare Your Own Quote
Whether you're renewing your policy or buying cover for the first time, it pays to see how your quote stacks up. CoverClub makes it easy to compare home insurance options for properties across Regents Park and the wider Logan region. Get a quote today at CoverClub and find out if you're getting a fair deal — or if there's a better one waiting for you.