If you own a free standing home in Regents Park, QLD 4118, you've probably wondered whether you're paying a fair price for home insurance — or whether there's a better deal out there. To help answer that question, we've analysed a real home and contents insurance quote for a four-bedroom, two-bathroom weatherboard property in the suburb, and compared it against local, state, and national benchmarks.
Here's what we found.
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Is This Quote Fair?
The quote in question comes in at $2,149 per year (or roughly $206 per month) for combined home and contents cover. The building is insured for $598,000, with $50,000 in contents cover, and both the building and contents excess are set at $1,000.
Our price rating for this quote is FAIR — Around Average.
That assessment holds up well under scrutiny. The premium sits below both the suburb average of $2,437/yr and the suburb median of $2,319/yr, meaning this homeowner is paying less than the majority of comparable properties in Regents Park. It's not in the cheapest quartile (the 25th percentile sits at $1,681/yr), but it's comfortably below the 75th percentile of $2,881/yr — so there's no cause for alarm here.
In short: this is a reasonable, competitive quote for the area. Not the cheapest possible, but well within a healthy range.
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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. Regents Park's suburb insurance data is based on a sample of 114 quotes, giving us a solid statistical foundation for comparison.
| Benchmark | Premium |
|---|---|
| This quote | $2,149/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 |
A few things stand out immediately. First, the Queensland state average of $9,129/yr is extraordinarily high — a figure heavily influenced by cyclone-prone coastal and far-north Queensland properties, which attract dramatically elevated premiums. The state median of $3,903/yr is a more representative figure for most QLD homeowners, and this quote still comes in well below that mark.
Compared to the national average of $5,347/yr, this quote looks even more favourable. Even against the national median of $2,764/yr, the $2,149/yr premium holds its own.
The Logan LGA average of $4,617/yr is notably higher than what this property is attracting — which suggests that within Logan, Regents Park may be a relatively lower-risk pocket, or that the specific characteristics of this property are working in the homeowner's favour.
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Property Features That Affect Your Premium
Insurance pricing isn't arbitrary — it's driven by the specific characteristics of your home and its location. Here's how the features of this property likely influence the premium:
Weatherboard timber walls are one of the more significant rating factors. Timber-framed homes are considered higher risk for fire and can be more expensive to repair than brick veneer or brick construction. Insurers typically apply a loading for weatherboard homes, which may partially explain why the premium isn't in the lowest quartile despite the property being in a relatively affordable suburb.
Tiled roof is a positive factor. Tile roofs are generally regarded as more durable and fire-resistant than Colorbond or corrugated iron alternatives, and they tend to attract more favourable pricing from insurers.
Slab foundation is standard and unremarkable from a risk perspective — it won't add a loading to your premium and is generally preferred over older stumped or suspended floor systems.
Construction year of 1985 places this home in a middle-ground category. It's old enough that insurers may factor in the age of electrical wiring, plumbing, and roofing materials, but not so old as to be considered a heritage or high-risk property.
Solar panels are worth noting. While they add value to the home, they also represent an additional insurable asset. Some policies include solar panels under the building sum insured automatically; others treat them separately. It's worth confirming with your insurer that your $598,000 building sum insured accounts for the replacement cost of the solar system.
Ducted climate control adds to the overall replacement value of the home. Like solar, it's important to ensure this is captured within your building sum insured to avoid being underinsured in the event of a total loss.
No pool and no cyclone risk zone both work in this homeowner's favour. Pools add liability exposure, and cyclone-rated properties in Queensland can attract some of the highest premiums in the country. Being outside a cyclone risk area is a meaningful cost advantage.
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Tips for Homeowners in Regents Park
1. Review your building sum insured regularly With a 1985-built weatherboard home, construction costs can be tricky to estimate. Building costs have risen significantly in recent years, and underinsurance is a genuine risk. Use a building cost calculator or ask your insurer to review your sum insured annually — particularly given that ducted air conditioning and solar panels should be factored into the replacement figure.
2. Confirm solar panel coverage Solar panels are often a grey area in home insurance policies. Check whether your panels are covered under the building section, whether there are any exclusions for storm or hail damage, and whether the inverter is included. If you're uncertain, ask your insurer directly.
3. Shop around at renewal time A "fair" rating means this quote is competitive, but the insurance market shifts constantly. Premiums can vary significantly between providers for the same property. Use a comparison tool like CoverClub at renewal time to ensure you're not paying more than you need to.
4. Consider your excess strategically Both the building and contents excess on this policy are set at $1,000. Opting for a higher excess (say, $2,000 or $2,500) can meaningfully reduce your annual premium — particularly useful if you have a healthy emergency fund and are unlikely to make small claims.
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Compare Your Own Quote
Whether you're a Regents Park local or elsewhere in Queensland, it pays to know where your premium sits relative to the market. CoverClub makes it easy to get a home insurance quote and benchmark it against real data from your suburb and state.