If you own a free standing home in Regents Park, QLD 4118, you've probably wondered whether you're paying too much — or too little — for home insurance. This article breaks down a real building insurance quote for a four-bedroom, two-bathroom brick veneer home in the suburb, and puts the numbers in context using suburb, state, and national benchmarks.
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Is This Quote Fair?
The quote in question comes in at $2,086 per year (or around $193 per month) for building-only cover, with a building excess of $2,000 and a sum insured of $580,000. Our pricing engine has rated this quote as FAIR — Around Average.
That "fair" rating reflects the fact that the premium sits in a reasonable middle ground — it's not a bargain, but it's not excessive either. For a 1985-built brick veneer home on a slab with a tiled roof, solar panels, and a pool, this kind of pricing is broadly in line with what insurers typically charge for comparable properties in the area.
It's worth noting that "fair" doesn't necessarily mean "the best available." Insurance markets are competitive, and premiums for the same property can vary significantly between providers. The rating simply tells you that this quote is neither an outlier on the cheap end nor an obvious overcharge.
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How Regents Park Compares
To understand whether this quote represents good value, it helps to look at the broader pricing landscape. Based on 64 quotes collected for Regents Park (4118), here's how the numbers stack up:
| Benchmark | Premium |
|---|---|
| This quote | $2,086/yr |
| Suburb 25th percentile | $1,744/yr |
| Suburb median | $2,410/yr |
| Suburb average | $3,110/yr |
| Suburb 75th percentile | $3,582/yr |
| LGA (Logan) average | $3,411/yr |
| QLD state average | $4,547/yr |
| QLD state median | $3,931/yr |
| National average | $2,965/yr |
| National median | $2,716/yr |
A few things stand out here. First, this quote is below the suburb median of $2,410, which means it's cheaper than at least half of the quotes collected in Regents Park — a positive sign. It's also well below the suburb average of $3,110, which suggests there are some high-premium outliers pulling that figure upward.
Perhaps most striking is the comparison with the broader Queensland market. The state average sits at a hefty $4,547 per year — more than double this quote — largely driven by cyclone-prone regions in North Queensland where premiums are significantly elevated. Regents Park, located in Logan City in South East Queensland, falls outside cyclone risk zones, which goes a long way towards explaining the more moderate pricing.
Against the national average of $2,965, this quote is also comfortably below the mark, sitting roughly $879 cheaper per year. All things considered, a premium of $2,086 for a property of this size and specification in this location is a reasonable outcome.
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Property Features That Affect Your Premium
Several characteristics of this property have a meaningful influence on what insurers charge. Here's how they factor in:
Brick Veneer Walls & Tiled Roof Brick veneer construction with a tiled roof is generally viewed favourably by insurers. Both materials are durable, fire-resistant, and relatively low-maintenance compared to alternatives like weatherboard or corrugated iron. This combination typically attracts more competitive premiums.
Slab Foundation A concrete slab foundation is standard for homes of this era in South East Queensland and doesn't carry the same risk profile as homes on stumps or piers, which can be more vulnerable to movement and moisture issues.
Swimming Pool A pool adds to the replacement cost of the property and can increase the sum insured required. It also introduces some liability considerations, though for building-only cover, the primary impact is on the insured value rather than the risk profile itself.
Solar Panels Solar panels are increasingly common on Queensland homes and are generally covered under building insurance as a fixed structure. However, they do add to the overall replacement cost, which is reflected in the sum insured. At $580,000, the sum insured here accounts for a 214 sqm home with these additional features.
1985 Construction Year Homes built in the mid-1980s are well past their initial construction phase but may have ageing electrical, plumbing, or roofing components that some insurers price cautiously. That said, brick veneer homes from this era have generally proven resilient, and the slab foundation adds stability.
No Cyclone Risk Being located in South East Queensland rather than a cyclone-designated zone is a significant premium advantage. Cyclone cover is one of the biggest cost drivers for Queensland homeowners in northern regions — its absence here keeps premiums much more manageable.
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Tips for Homeowners in Regents Park
1. Review your sum insured regularly Building costs have risen sharply in recent years. With a 214 sqm home including a pool and solar panels, $580,000 may be appropriate today — but it's worth revisiting this figure annually to ensure you're not underinsured. Ask your insurer or a quantity surveyor to help calculate your current rebuild cost.
2. Consider your excess carefully This policy carries a $2,000 building excess. A higher excess generally means a lower premium, but you need to be comfortable covering that amount out of pocket in the event of a claim. If cash flow is a concern, it may be worth comparing quotes with a lower excess to understand the trade-off.
3. Shop around at renewal time A "fair" rating is a reasonable result, but it's not a reason to stay put without checking. Insurers frequently adjust their pricing models, and a competitor may offer equivalent cover for less. Use a comparison tool like CoverClub to benchmark your renewal quote before committing.
4. Maintain your pool and roof Insurers may reduce or deny claims where poor maintenance is a contributing factor. Keeping your pool fencing compliant with Queensland safety regulations and ensuring your tiled roof is free of cracked or missing tiles can protect both your home and your claim eligibility.
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Compare Your Own Quote
Whether you're renewing an existing policy or shopping for cover on a new purchase, it pays to see how your quote stacks up. CoverClub collects real premium data from homeowners across Australia, so you can benchmark your own situation against actual market rates — not just advertised prices.
Get a quote and compare today at CoverClub — it only takes a few minutes, and you might be surprised at the difference a little research can make.