If you own a free standing home in Regents Park, QLD 4118, you've probably wondered whether you're paying a fair price for building insurance — or whether there's room to save. This article breaks down a real building-only insurance quote for a three-bedroom, two-bathroom brick veneer home in the suburb, and puts it in context against local, state, and national benchmarks.
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Is This Quote Fair?
The annual premium for this property came in at $1,420 per year (or roughly $144 per month), covering building only with a sum insured of $747,000 and a building excess of $3,000.
Our price rating for this quote? Cheap — below average. That's a genuinely strong result.
To put it in perspective, the suburb average premium in Regents Park sits at $3,110 per year, and the median is $2,410. Even at the 25th percentile — meaning only one in four quotes come in cheaper — the figure is $1,744. This quote at $1,420 comfortably undercuts that threshold, placing it among the most competitive premiums seen across 64 quotes sampled in the area.
For Queensland homeowners more broadly, the numbers are even more striking. The QLD state average premium is $4,547 per year, driven in large part by cyclone-prone coastal and northern regions that push costs significantly higher. Against that benchmark, this quote represents a saving of over $3,100 annually.
In short: if you were quoted $1,420 for building insurance on a comparable property in Regents Park, you'd be doing very well.
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How Regents Park Compares
Regents Park sits within the City of Logan, a large and diverse local government area in south-east Queensland. The LGA average premium is $3,411 per year — more than double what this quote came in at.
Here's a quick snapshot of how the numbers stack up:
| Benchmark | Annual Premium |
|---|---|
| This Quote | $1,420 |
| Regents Park suburb average | $3,110 |
| Regents Park suburb median | $2,410 |
| Logan LGA average | $3,411 |
| QLD state average | $4,547 |
| National average | $2,965 |
| National median | $2,716 |
You can explore the full breakdown for the suburb at the Regents Park insurance stats page, or compare it against national home insurance data to see how Queensland stacks up against other states.
One notable takeaway: the national average of $2,965 is actually lower than the QLD state average, which highlights just how much Queensland's exposure to extreme weather events — particularly in the north — inflates the state figure. Regents Park, located in the south-east corner of the state and outside designated cyclone risk zones, benefits from a more moderate risk profile.
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Property Features That Affect Your Premium
Several characteristics of this property likely contributed to its competitive premium. Here's what matters and why:
Brick veneer construction Brick veneer walls are generally viewed favourably by insurers. They offer solid fire resistance and structural durability compared to lightweight cladding materials, which can translate to lower rebuild risk assessments.
Tiled roof A tile roof is another risk-positive feature. Tiles are durable, widely used across Queensland, and hold up well in storms compared to older or corrugated iron alternatives — though they can be damaged by large hail, which is worth keeping in mind.
Slab foundation Concrete slab foundations are common in Queensland homes built from the 1990s onwards. They're generally considered low-risk from an underwriting perspective, particularly in areas not prone to significant soil movement or flooding.
Construction year: 1995 Homes built in the mid-1990s fall into a sweet spot — modern enough to comply with improved building codes, but old enough that some of the premium "new build" replacement costs don't apply in the same way. That said, a 30-year-old home may have ageing systems (plumbing, electrical) that are worth reviewing.
Solar panels This property has solar panels installed. While solar adds value to the home and is increasingly common across Queensland, it's worth confirming with your insurer that the panels are explicitly covered under your building policy. Some policies include them automatically; others may require a specific mention or endorsement.
No pool, no ducted climate control Pools and ducted air conditioning systems can add complexity (and cost) to a building sum insured. Their absence here keeps the risk profile straightforward.
Building size: 139 sqm At 139 square metres, this is a modestly sized home. The sum insured of $747,000 reflects rebuild costs rather than land value, and for a standard brick veneer home of this size in south-east Queensland, that figure appears reasonable — though it's always worth reviewing against current construction cost estimates.
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Tips for Homeowners in Regents Park
1. Review your sum insured annually Construction costs in Queensland have risen significantly over recent years. If your sum insured hasn't been updated to reflect current rebuild costs per square metre, you could be underinsured — meaning a claim payout might not cover the full cost of rebuilding. Use an independent building cost calculator or speak to a quantity surveyor if you're unsure.
2. Confirm your solar panels are covered With solar panels on the roof, double-check your policy wording. Ask your insurer directly: are the panels covered for storm damage, hail, and accidental breakage? If not, you may need to add them as a specified item.
3. Shop around — and use comparison data This quote came in well below the suburb average, which shows that premiums in Regents Park can vary enormously between providers. Don't auto-renew without comparing. Platforms like CoverClub let you see multiple quotes side by side so you're not leaving money on the table.
4. Understand your excess before you claim This policy carries a $3,000 building excess. That's on the higher end of what's typical, and it means smaller claims may not be worth lodging. A higher excess often reduces your premium, but make sure you're comfortable covering that amount out of pocket if something goes wrong.
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Compare Your Own Quote
Whether you're buying a new policy or reviewing an existing one, it pays to know where your premium sits relative to the market. CoverClub aggregates real quote data from across Australia so you can make an informed decision — not just accept the first number you're given.