If you own a free standing home in Youngtown, TAS 7249, you've probably wondered whether you're paying too much — or too little — for home and contents insurance. This article breaks down a real insurance quote for a three-bedroom brick veneer home in the suburb, compares it against Tasmanian and national benchmarks, and offers practical tips to help you make the most of your cover.
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Is This Quote Fair?
The short answer: yes — and then some. At $865 per year (or roughly $89 per month), this home and contents quote lands firmly in the "Cheap" category, coming in well below the average for both Tasmania and the country as a whole.
To put that in perspective:
- The Tasmanian state average premium is $2,814/yr, with a median of $2,326/yr
- The national average sits at $5,347/yr, with a national median of $2,764/yr
- The Northern Midlands LGA average is $2,528/yr
This quote of $865 is roughly 69% below the Tasmanian average and an extraordinary 84% below the national average. Even compared to the more conservative state median of $2,326, this premium is less than half. For a property insured at $443,000 for the building and $40,000 for contents, that represents exceptional value.
Of course, a low premium isn't always the whole story — the excess structure matters too. The building excess of $3,000 is on the higher side, which partly explains why the annual cost is so competitive. The contents excess of $500 is more typical. Homeowners should weigh up whether they're comfortable covering the first $3,000 of any building claim out of pocket in exchange for those lower ongoing costs.
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How Youngtown Compares
While suburb-level comparison data isn't available for Youngtown specifically, we can draw meaningful conclusions from the broader regional and state picture. You can explore available Youngtown insurance statistics and compare them against the full Tasmanian insurance landscape or the national picture.
Youngtown is a quiet, established residential suburb on the eastern fringe of Launceston. It's not classified as a cyclone risk area, sits away from major flood plains, and doesn't carry the elevated bushfire exposure of some rural Tasmanian communities. These environmental factors all contribute to a more favourable risk profile compared to many other parts of the country — particularly Queensland and Northern Australia, where extreme weather events push premiums dramatically higher.
The Northern Midlands LGA average of $2,528/yr gives us a useful local anchor. Even within this region, the quote analysed here sits substantially below that benchmark, suggesting the specific property characteristics are playing a meaningful role in keeping costs down.
| Benchmark | Annual Premium |
|---|---|
| This Quote | $865 |
| Northern Midlands LGA Average | $2,528 |
| TAS State Average | $2,814 |
| TAS State Median | $2,326 |
| National Average | $5,347 |
| National Median | $2,764 |
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Property Features That Affect Your Premium
Several characteristics of this particular home work in the owner's favour from an insurance pricing perspective.
Brick Veneer Walls Brick veneer is one of the more insurer-friendly wall materials. It offers solid fire resistance and structural durability compared to weatherboard or fibre cement, which can reduce the perceived risk of significant structural damage. Most Australian insurers view brick veneer favourably when calculating premiums.
Steel / Colorbond Roof A Colorbond steel roof is highly regarded in the insurance industry. It's durable, low-maintenance, resistant to fire embers, and holds up well in high-wind conditions. Older roofing materials like terracotta tiles or asbestos sheeting tend to attract higher premiums due to replacement costs and fragility — so Colorbond is a genuine advantage here.
Concrete Slab Foundation Slab foundations are generally stable and straightforward to assess for insurers. They don't carry the same subsidence or pest-related risks associated with older timber stumped foundations, which is a positive for premium calculations.
Age of Construction (1965) The home was built in 1965, making it around 60 years old. While older homes can sometimes attract higher premiums due to ageing wiring, plumbing, or roofing, the combination of brick veneer and Colorbond roofing suggests this property has likely been updated in key areas. Insurers assess the overall condition and materials, not just the build year.
No Pool, No Solar, No Ducted Climate Control The absence of a pool, solar panel system, and ducted air conditioning simplifies the risk profile considerably. Each of these additions can increase both the sum insured and the complexity of a claim — so their absence keeps things clean and cost-effective.
160 sqm Building Size At 160 square metres, this is a comfortably sized family home without being large enough to push rebuild costs into a higher bracket. The $443,000 building sum insured reflects a reasonable estimate for a full rebuild in the Launceston region.
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Tips for Homeowners in Youngtown
1. Review Your Building Sum Insured Regularly Construction costs in Tasmania have risen over recent years, and your rebuild cost today may be higher than it was when you first took out cover. Use an online building calculator or speak with a local builder to sense-check your sum insured — being underinsured at claim time can be a costly mistake.
2. Consider Whether the $3,000 Building Excess Works for You A higher excess lowers your premium, but it also means more out-of-pocket expense if you need to make a claim. If you have a solid emergency fund, a $3,000 excess may be perfectly manageable. If not, it might be worth comparing quotes with a lower excess to find the right balance.
3. Don't Overlook Contents Cover $40,000 in contents cover is a reasonable starting point, but it's worth doing a room-by-room inventory to make sure it reflects the actual replacement value of your belongings. Electronics, appliances, furniture, clothing, and jewellery add up quickly — many homeowners find they're underinsured on contents without realising it.
4. Maintain Your Home to Protect Your Premium Insurers can decline or reduce claims if poor maintenance contributed to the damage. Keeping your Colorbond roof clear of debris, checking gutters annually, and ensuring your plumbing and electrical systems are in good order not only protects your home — it protects your right to claim.
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Compare Your Own Quote at CoverClub
Whether you're renewing your existing policy or shopping around for the first time, it pays to compare. CoverClub makes it easy to see what home and contents insurance looks like for your specific property — not just a generic estimate. Get a quote today and find out if you're getting as good a deal as this Youngtown homeowner.