If you own a free standing home in Salter Point, WA 6152, you're living in one of Perth's most desirable riverside suburbs — and your home insurance premium should reflect the quality and value of the area. This article breaks down a real home and contents insurance quote for a four-bedroom, two-bathroom property in Salter Point, examining whether the price is fair, how it compares to broader benchmarks, and what you can do to make sure you're getting the best deal possible.
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Is This Quote Fair?
The annual premium for this property came in at $2,062 per year (or $198/month), covering both building and contents with a building sum insured of $1,300,000 and contents valued at $50,000. Both the building and contents excess are set at $5,000.
Our price rating for this quote is CHEAP — below the state and national averages — which is genuinely good news for the homeowner. To put this in context:
- The WA state average premium is $2,811/yr, and the state median sits at $2,127/yr
- The national average is $5,347/yr, with a national median of $2,764/yr
At $2,062/yr, this quote sits below both the WA median and the national median, and well under the national average. For a well-appointed home with a pool, solar panels, and ducted climate control — all features that can add to replacement costs — securing a below-average premium is a solid outcome.
It's worth noting that the higher $5,000 excess on both building and contents plays a role here. Opting for a higher excess is a common strategy to reduce your annual premium, but it does mean you'll need to cover more out of pocket if you ever make a claim. Make sure this trade-off suits your financial situation before locking in.
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How Salter Point Compares
Salter Point is a quiet, leafy suburb on the Canning River in the City of South Perth local government area. When we look at the LGA-level data, the picture becomes particularly interesting:
| Benchmark | Premium |
|---|---|
| This quote | $2,062/yr |
| South Perth LGA average | $1,401/yr |
| WA state average | $2,811/yr |
| WA state median | $2,127/yr |
| National average | $5,347/yr |
| National median | $2,764/yr |
The South Perth LGA average of $1,401/yr is notably lower than this quote, which may reflect a mix of property types and sum insured levels across the LGA. A $1,300,000 building sum insured is substantial, and higher insured values naturally attract higher premiums regardless of suburb. When adjusted for the level of cover, this quote remains competitive.
Compared to the WA state picture and the national landscape, Salter Point homeowners are in a relatively favourable position. Western Australia, while not immune to extreme weather events, doesn't carry the same cyclone loading as northern parts of the state or Queensland, which significantly influences the national average being so much higher.
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Property Features That Affect Your Premium
Several characteristics of this property have a direct bearing on the insurance premium — both positively and negatively.
Double Brick Construction
Double brick external walls are regarded as one of the most resilient building materials in Australia. Insurers typically view double brick favourably because it offers strong resistance to fire, wind, and impact. This construction type is common in WA and often contributes to lower premiums compared to weatherboard or clad homes.
Steel / Colorbond Roof
Colorbond steel roofing is durable, fire-resistant, and widely used across Australian homes. It's generally well-regarded by insurers and tends to fare better in storm events than older tile roofs that can crack or dislodge. This is a premium-friendly feature.
Concrete Slab Foundation
A slab-on-ground foundation is standard for modern Perth homes and is generally considered low-risk from an insurance perspective. It eliminates the risks associated with subfloor spaces, such as moisture damage or pest ingress, which can affect older homes on stumps.
Swimming Pool
A pool adds to the replacement cost of the property, which is factored into the building sum insured. Pools also introduce a small liability consideration. These factors can nudge premiums upward, so it's important the sum insured adequately accounts for the pool's value.
Solar Panels
Solar panels are an increasingly common feature in Perth homes, given the city's exceptional sunshine hours. However, they do add to the rebuild cost and can be a target for hail or storm damage. Confirming that your policy explicitly covers solar panels — and that they're included in the building sum insured — is essential.
Ducted Climate Control
A full ducted climate system represents a significant installation cost and adds to the overall replacement value of the home. At $1,300,000 sum insured, this property appears to have accounted for these inclusions, which is the right approach.
Timber / Laminate Flooring
Timber and laminate floors can be costly to replace, particularly if water damage is involved. Ensuring your contents or building policy covers floor coverings is worth clarifying with your insurer.
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Tips for Homeowners in Salter Point
1. Review Your Building Sum Insured Regularly
With construction costs rising across Perth, it's easy for your sum insured to fall behind the actual cost to rebuild. A $1,300,000 sum insured for a 214 sqm double brick home in Salter Point is substantial, but rebuild costs can shift quickly. Use a building calculator or speak to a quantity surveyor every couple of years to stay accurate — being underinsured at claim time can be costly.
2. Consider Whether Your Excess Suits Your Situation
A $5,000 excess on both building and contents is on the higher end. While it reduces your annual premium, think carefully about whether you'd be comfortable covering that amount in the event of a claim. If your emergency fund is healthy, a high excess makes sense. If not, it may be worth paying a slightly higher premium for a lower excess.
3. Make Sure Your Pool and Solar Are Explicitly Covered
Not all policies automatically include solar panels and pools in their standard building cover. Read your Product Disclosure Statement (PDS) carefully or ask your insurer directly. You want to be certain that storm damage to panels or structural damage to the pool is covered without ambiguity.
4. Don't Set and Forget
Insurance is one of those things Australians tend to renew on autopilot. But the market changes, and so does your property. Comparing quotes annually — especially if you've made renovations or added features like the solar system — can uncover meaningful savings or better coverage. Even a few minutes of comparison shopping can pay off.
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Compare Home Insurance Quotes at CoverClub
Whether you're a Salter Point local or researching home insurance anywhere in Australia, CoverClub makes it easy to compare quotes and find cover that fits your property and budget. Don't settle for the first renewal notice that lands in your inbox — get a quote today at CoverClub and see how your current premium stacks up.