If you own a four-bedroom free standing home in Sharon, QLD 4670, you're probably curious about whether your home insurance premium is reasonable — or whether you're leaving money on the table. Sharon is a residential suburb in the Bundaberg region, and like much of regional Queensland, it sits in a market where premiums can vary significantly depending on property characteristics, insurer appetite, and local risk factors.
This article breaks down a real home and contents insurance quote for a four-bedroom, two-bathroom brick veneer home in Sharon, comparing it against suburb, state, and national benchmarks to give you a clear picture of where this quote lands.
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Is This Quote Fair?
The quote in question is $4,522 per year (or $427 per month) for combined home and contents cover, with a building sum insured of $715,000 and contents valued at $150,000. Both the building and contents excess are set at $1,000.
Our price rating for this quote is FAIR — Around Average, and the data backs that up. Based on 62 quotes collected for Sharon, the suburb's median premium sits at $4,297 per year, meaning this quote is only about $225 above the midpoint — a relatively modest gap. It's well within the normal range of pricing for this area.
It's worth noting that the suburb average is considerably higher at $5,727 per year, which is being pulled upward by a cluster of more expensive quotes at the top end of the market (the 75th percentile sits at $7,029/yr). This is a reminder that averages can be misleading — the median is often a more reliable reference point for what most homeowners are actually paying.
At $4,522, this quote comfortably outperforms the suburb average, which is a positive sign. It's not a bargain-basement price, but it reflects a fair market rate for a well-specified property with a sizeable sum insured.
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How Sharon Compares
To put this quote in broader context, here's how Sharon's insurance market stacks up against Queensland and the rest of the country:
| Benchmark | Average Premium | Median Premium |
|---|---|---|
| Sharon (4670) | $5,727/yr | $4,297/yr |
| Queensland | $4,547/yr | $3,931/yr |
| National | $2,965/yr | $2,716/yr |
A few things stand out here. Sharon's median premium is noticeably higher than the Queensland state median of $3,931, and dramatically above the national median of $2,716. This isn't unusual for regional Queensland — proximity to cyclone-prone areas, flood-affected river systems, and the general cost of rebuilding in regional locations all contribute to elevated premiums compared to metropolitan or southern-state properties.
The good news for this particular homeowner is that their quote of $4,522 is tracking close to the suburb median rather than the inflated average — a meaningful distinction when the spread between the 25th percentile ($3,041) and 75th percentile ($7,029) is so wide. That $4,000 gap between the cheapest and most expensive quotes in the same suburb underscores just how much variation exists and why comparing multiple quotes is so valuable.
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Property Features That Affect Your Premium
Several characteristics of this home have a direct bearing on the premium calculated:
Brick veneer construction with a tiled roof is generally viewed favourably by insurers. Brick veneer offers solid fire resistance and structural durability, while tiles are considered a more robust roofing material than metal sheeting or fibrous cement in many risk assessments. Together, these features typically attract more competitive pricing compared to timber-framed or clad homes.
Slab foundation is the standard for homes of this era in Queensland and doesn't carry the additional risk concerns associated with elevated or suspended floors, which can be more susceptible to water ingress and pest damage.
Construction year of 1989 places this home in a period where building standards were reasonably well established, though not as stringent as post-2000 cyclone-rated construction. At 35+ years old, insurers may factor in the age of plumbing, electrical systems, and roofing when pricing the risk.
Solar panels are present on this property. While solar panels themselves are a relatively modest risk factor, they do add to the replacement cost of the home and can complicate roof-related claims. It's worth confirming with your insurer that your solar system is explicitly covered under your building policy.
No pool and no ducted climate control simplifies the risk profile slightly — pools and ducted systems can both be sources of liability and mechanical breakdown claims respectively.
Building size of 214 sqm is a solid mid-to-large family home footprint, which aligns with the $715,000 sum insured. Getting the sum insured right is critical — underinsuring a home of this size could leave you significantly out of pocket in the event of a total loss.
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Tips for Homeowners in Sharon
1. Review your sum insured regularly Construction costs in regional Queensland have risen sharply in recent years. A sum insured that was appropriate three years ago may no longer be sufficient to fully rebuild your home. Use a building cost calculator or speak with a quantity surveyor to make sure $715,000 still reflects today's rebuild costs for a 214 sqm brick veneer home.
2. Confirm your solar panels are covered Not all policies automatically include solar panel systems as part of building cover. Check your Product Disclosure Statement (PDS) to confirm your panels, inverter, and associated wiring are included — and up to what value.
3. Shop the market at renewal time The $4,000 spread between the cheapest and most expensive quotes in Sharon tells you everything you need to know about the value of comparison shopping. Loyalty doesn't always pay in insurance — getting two or three competing quotes at renewal could save you hundreds of dollars annually.
4. Consider your excess carefully Both the building and contents excess on this policy are set at $1,000. Opting for a higher voluntary excess (say, $2,000 or $2,500) can meaningfully reduce your annual premium. If you have a solid emergency fund and your home is in good condition, a higher excess may be a smart trade-off.
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Compare Your Home Insurance with CoverClub
Whether you're reviewing an existing policy or shopping for the first time, CoverClub makes it easy to see how your quote stacks up. Our platform aggregates real quote data from across Australia so you can make an informed decision — not just accept whatever your current insurer offers at renewal.
Get a home insurance quote today and find out if you're paying a fair price for your Sharon home.