If you own a free standing home in Sherwood, QLD 4075, you've probably wondered whether you're paying a fair price for home insurance — or quietly overpaying while your insurer counts the savings. This article breaks down a real home and contents insurance quote for a four-bedroom weatherboard property in Sherwood, benchmarking it against suburb, state, and national data so you can see exactly where it sits.
---
Is This Quote Fair?
The quote in question comes in at $2,091 per year (or $212/month) for combined home and contents cover, with a building sum insured of $828,000 and contents valued at $50,000. The building excess is $3,000 and the contents excess $1,000.
Our price rating for this quote is CHEAP — below average for the area. That's genuinely good news for the homeowner. Based on suburb-level data for Sherwood, the average annual premium sits at $5,559, and the median is $4,892. This quote comes in well below even the 25th percentile of $3,234 — meaning it's cheaper than at least 75% of quotes recorded in the suburb.
To put it plainly: this homeowner is paying roughly $2,800 less per year than the typical Sherwood resident insuring a similar property. Over five years, that's a potential saving of $14,000 — not trivial money.
That said, a low premium isn't always a green light to stop shopping. It's worth understanding why the price is competitive, and whether the cover limits and excesses are genuinely appropriate for the property.
---
How Sherwood Compares
Sherwood sits in Brisbane's inner-southwest, a leafy riverside suburb with a mix of post-war character homes and modern builds. It's a sought-after area — and insurance pricing here reflects some of that complexity.
Here's how the numbers stack up:
| Benchmark | Annual Premium |
|---|---|
| This quote | $2,091 |
| Sherwood suburb average | $5,559 |
| Sherwood suburb median | $4,892 |
| Sherwood 25th percentile | $3,234 |
| QLD state average | $9,129 |
| QLD state median | $3,903 |
| National average | $5,347 |
| National median | $2,764 |
| Brisbane LGA average | $16,277 |
The Queensland state average of $9,129 is heavily skewed by high-risk flood and cyclone zones in regional and coastal QLD — which is why the median of $3,903 is a more useful comparison point for metro Brisbane. Even so, this quote beats the state median comfortably.
At the national level, the average premium is $5,347 and the median sits at $2,764. This quote is just slightly above the national median, which is reasonable given the relatively high building sum insured of $828,000.
The Brisbane LGA average of $16,277 is an outlier worth noting — it reflects the significant flood exposure that affects many parts of Brisbane, particularly low-lying suburbs along the Brisbane River. Sherwood itself has some flood-affected pockets, so not all properties in the suburb will enjoy premiums this low.
---
Property Features That Affect Your Premium
Several characteristics of this particular property influence how insurers price the risk:
Weatherboard timber construction is one of the most significant factors. Homes built with timber external walls are generally considered higher risk than brick or rendered concrete — they're more susceptible to fire spread, termite damage, and general wear. This typically pushes premiums up, so it's notable that this quote remains competitive despite the construction type.
Construction year (1954) means this is a post-war home, now over 70 years old. Older homes can attract higher premiums due to ageing electrical wiring, plumbing, and structural elements that are costlier to repair or replace to modern standards. Insurers may also apply stricter underwriting criteria.
Steel/Colorbond roof is actually a positive from an insurance perspective. Colorbond is durable, low-maintenance, and performs well in storms compared to terracotta tiles or older corrugated iron. It's a common upgrade on older Queensland homes and can help moderate premiums.
Slab foundation is generally considered stable and lower-risk than older stumped or pier-and-beam foundations, which are more common in pre-1970s Queensland homes. A slab reduces the likelihood of subsidence-related claims.
Swimming pool adds some liability exposure and increases the overall replacement cost of the property, which is reflected in the building sum insured. Pools also require specific coverage consideration — homeowners should confirm their policy covers pool equipment, fencing, and any associated structures.
No cyclone risk is a meaningful premium reducer. Properties further north in Queensland can pay dramatically more due to cyclone exposure. Sherwood's location in metro Brisbane places it outside designated cyclone risk zones, which keeps premiums more manageable.
Standard fittings quality means the home doesn't have high-end finishes that would inflate rebuild costs. This is factored into the $828,000 building sum insured, which at 235 sqm works out to roughly $3,523/sqm — a reasonable estimate for a weatherboard home with standard inclusions in Brisbane.
---
Tips for Homeowners in Sherwood
1. Check your flood cover status explicitly. Sherwood borders the Brisbane River, and parts of the suburb experienced significant inundation during the 2011 and 2022 floods. Even if your specific property sits on higher ground, it's essential to confirm whether your policy includes flood cover — and to understand how your insurer defines "flood" versus "storm surge" or "rainwater runoff." Don't assume it's included.
2. Review your building sum insured annually. Construction costs in Brisbane have risen sharply over the past few years. A sum insured of $828,000 may have been appropriate at the time of quoting, but rebuilding costs change. Use a building cost calculator or speak with a quantity surveyor to ensure you're not underinsured — especially for an older weatherboard home where like-for-like replacement can be more expensive.
3. Maintain your timber exterior proactively. Weatherboard homes require regular painting and sealing to prevent moisture ingress and timber rot. Some insurers may reduce or deny claims if damage is attributed to lack of maintenance. Staying on top of routine upkeep protects both your home and your claim eligibility.
4. Compare quotes at renewal — every year. Even if you're already on a competitive premium, insurers adjust their pricing models regularly. The gap between the cheapest and most expensive quotes in Sherwood spans thousands of dollars annually. Running a comparison at renewal takes minutes and could save you significantly.
---
Ready to Compare Your Own Quote?
Whether you're a Sherwood local or insuring a property elsewhere in Queensland, CoverClub makes it easy to see how your premium stacks up. Get a home insurance quote today and benchmark your price against real suburb, state, and national data — so you always know if you're getting a fair deal.