Wellington Point is one of the Redland City's most sought-after bayside suburbs, offering a relaxed coastal lifestyle on the shores of Moreton Bay. For owners of a free standing home in this area, understanding what you should be paying for home and contents insurance — and whether your quote stacks up — is an important part of protecting what is likely your most valuable asset. This article breaks down a recent quote for a four-bedroom, two-bathroom brick veneer home in Wellington Point (postcode 4160) and places it in context against local, state, and national benchmarks.
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Is This Quote Fair?
The quote in question comes in at $2,280 per year (or $219/month) for combined home and contents cover, with a building sum insured of $614,000 and contents valued at $50,000. Both the building and contents excess are set at $1,000.
Our pricing engine rates this quote as FAIR — Around Average, and the data backs that up. At $2,280 annually, this quote sits comfortably below the suburb average of $2,712/yr and the suburb median of $2,728/yr, meaning the homeowner is doing better than a typical Wellington Point policyholder. It also falls below the national median of $2,764/yr, which is a solid result.
That said, it's worth noting that cheaper options may still exist. The 25th percentile for Wellington Point sits at $1,697/yr, which means roughly one in four quotes in this suburb come in under that figure. There's a meaningful gap between this quote and the most competitive end of the market — something worth exploring if you're keen to reduce your premium further.
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How Wellington Point Compares
To put this quote in proper perspective, it helps to zoom out and look at the broader pricing landscape. Based on data from 47 quotes in the Wellington Point area:
| Benchmark | Premium |
|---|---|
| This quote | $2,280/yr |
| Suburb average | $2,712/yr |
| Suburb median | $2,728/yr |
| LGA (Redland) average | $3,178/yr |
| National median | $2,764/yr |
| National average | $5,347/yr |
| QLD median | $3,903/yr |
| QLD average | $9,129/yr |
The Queensland state average of $9,129/yr is dramatically higher than what this homeowner is paying — but that figure is heavily skewed by high-risk areas in North Queensland, including cyclone-prone regions where premiums can be extraordinarily expensive. The QLD median of $3,903/yr is a more representative figure, and this quote still comes in well below that.
Compared to national benchmarks, the picture is similarly encouraging. The national average of $5,347/yr is again pulled upward by extreme-risk postcodes, but even against the national median of $2,764/yr, this Wellington Point quote holds its own.
The Redland LGA average of $3,178/yr is particularly relevant here, as it reflects the broader area this property sits within. Coming in $898 below that LGA average is a meaningful saving.
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Property Features That Affect Your Premium
Several characteristics of this property work in the homeowner's favour when it comes to insurance pricing:
Brick Veneer Construction Brick veneer is one of the more insurer-friendly external wall types in Australia. It offers solid fire resistance and durability, and most insurers price it more favourably than weatherboard or lightweight cladding alternatives.
Tiled Roof Terracotta or concrete tile roofing is generally viewed positively by underwriters. Tiles are durable, fire-resistant, and hold up well in severe weather — all factors that reduce the likelihood of a claim.
Slab Foundation A concrete slab foundation is standard for homes of this era and is considered low-risk by insurers. It avoids the complications that can come with older subfloor construction, such as termite damage or moisture issues.
Built in 2003 At around 22 years old, this home sits in a sweet spot for insurers. It's modern enough to meet contemporary building codes (including post-2000 standards for cyclone tie-downs and structural integrity in QLD), yet old enough that any early construction defects would have long since surfaced.
Solar Panels The presence of rooftop solar panels adds some complexity to the insurance picture. Panels themselves can be damaged by hail or storm events, and not all standard policies automatically cover them. It's worth confirming with your insurer exactly how your solar system is covered — whether it falls under the building sum insured or requires a separate endorsement.
No Pool, No Cyclone Risk Zone The absence of a swimming pool removes a common liability and maintenance risk factor. Wellington Point is also outside designated cyclone risk areas, which is a significant premium advantage compared to properties further north in Queensland.
Standard Fittings, Vinyl Flooring Standard-grade fittings and vinyl flooring keep the replacement cost estimate grounded. High-end finishes like stone benchtops, hardwood flooring, or custom joinery can push building sum insured requirements — and premiums — considerably higher.
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Tips for Homeowners in Wellington Point
1. Confirm your solar panels are properly covered As mentioned above, solar systems are sometimes treated as an afterthought in standard home policies. Ask your insurer specifically whether your panels are included in the building sum insured, and whether accidental damage and storm damage are both covered. If not, you may need an endorsement or a specialist policy.
2. Review your building sum insured annually Construction costs in South East Queensland have risen significantly in recent years. A sum insured of $614,000 for a 214 sqm home works out to roughly $2,869/sqm — which is within a reasonable range, but worth reassessing each renewal. Underinsurance can leave you seriously out of pocket after a major claim.
3. Shop the market at renewal time This quote is rated as fair, but the 25th percentile in Wellington Point sits at $1,697/yr — suggesting better deals are available for some homeowners. Use a comparison tool like CoverClub to check whether you can achieve similar cover at a lower price point before auto-renewing.
4. Consider your excess settings 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 — provided you're comfortable covering that larger out-of-pocket amount in the event of a claim. For a property in a relatively low-risk suburb like Wellington Point, this can be a sensible trade-off.
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Get a Better Deal on Your Home Insurance
Whether you're a first-time buyer in Wellington Point or a long-time homeowner looking to make sure you're not overpaying, comparing quotes is the single most effective thing you can do. CoverClub makes it easy to see what multiple insurers would charge for your specific property — in just a few minutes. Start your free comparison today and find out if there's a better deal waiting for you.