The same Tasmania home, quoted $1,665–$3,121
Across 5,860 Tasmania homes we quoted across our panel, the dearest insurer charged 104% more than the cheapest for the same cover — a gap of $1,456 a year. That gap is the whole reason to compare.
The same home · every insurer on our panel
Average across 5,860 Tasmania homes we quoted — same property and cover, different insurer. Indicative; individual results vary.
Tasmania typically has some of the most affordable home insurance premiums in Australia. The state's lower exposure to cyclones and generally lower property values compared to the mainland contribute to its competitive pricing.
However, Tasmania is not without insurance risks. Parts of the state are prone to flooding, particularly in the Launceston area where the South Esk and North Esk rivers converge, and bushfire risk exists in many rural and peri-urban areas. Heritage homes, which Tasmania has in abundance, can also attract higher premiums due to specialised rebuilding requirements.
With a smaller market, fewer insurers may actively compete in Tasmania compared to the mainland capitals, making comparison particularly valuable to ensure you're getting the best available rate.
What a typical Tasmania home pays
For a home insured to rebuild for about $719,219 (the Tasmania average) with $116,320 of contents and a $500 excess, the typical annual premium is:
Half of Tasmania homes pay less than this and half pay more. Your price depends on your address, construction and the cover level you choose.
How we work this out
These figures come from 5,915 real home insurance quotes Cover Club generated for Tasmania properties. We use the medianrather than the average, so a handful of very high-value homes don't distort the typical figure.
Every Cover Club quote itemises GST and state stamp duty separately.
Premium data updated April 2026. Indicative only.
Find what homes in your suburb pay
Start typing your suburb to see the typical premium near you, from real Tasmania quotes.
Why home insurance costs what it does in Tasmania
Flood Risk
Launceston and surrounding areas along the Tamar River and its tributaries are known flood risk zones. The Derwent River catchment in southern Tasmania also has flood-prone areas.
Bushfire Risk
Rural and semi-rural Tasmania faces bushfire risk, particularly during hot, dry summers. The east coast and central highlands are particularly vulnerable during extended dry periods.
Storm Damage
Tasmania's exposure to Southern Ocean weather systems means severe storms can bring damaging winds and heavy rainfall, particularly on the west coast.
Home insurance cost by area in Tasmania
Average premiums from Cover Club quotes. Higher-value and higher-risk areas sit at the top.
| Most expensive areas | Postcode | Avg / yr |
|---|---|---|
| Invermay | 7248 | $75,774 |
| Franklin | 7113 | $32,031 |
| Glenora | 7140 | $11,592 |
| Lower Longley | 7109 | $7,387 |
| Ellendale | 7140 | $5,916 |
| Cheapest areas | Postcode | Avg / yr |
|---|---|---|
| Goodwood | 7010 | $957 |
| Mowbray | 7248 | $1,016 |
| Lutana | 7009 | $1,017 |
| Waverley | 7250 | $1,057 |
| Saltwater River | 7186 | $1,079 |
How to lower your home insurance in Tasmania
Take advantage of Tasmania's generally lower premiums by still comparing — the savings potential as a percentage can be significant.
If you own a heritage home, seek out insurers who specialise in heritage or older properties for more competitive pricing.
Ensure your sum insured accounts for Tasmania's building costs, which can be higher than expected due to the island's shipping and logistics costs.
Consider bundling building and contents insurance for a combined policy discount.
What home insurance often won't cover
Cover varies between insurers — always read the Product Disclosure Statement (PDS). These are the exclusions and limits that catch Tasmania homeowners out most often.
Flood & actions of the sea
Flood cover is often optional or capped, and in higher-risk parts of Tasmania it's the cover most likely to be limited. Storm surge and coastal erosion are commonly excluded outright.
Wear, tear & maintenance
Gradual deterioration, rust, mould and damage caused by failing to maintain the property are not covered.
Unoccupied homes
Many policies reduce or void cover once a home is left unoccupied for more than 60 consecutive days.
Defective workmanship
Damage from faulty design, poor building work or structural defects is typically excluded.
Pests & vermin
Damage from termites, vermin and insects is almost always excluded.
Pre-existing damage
Anything already damaged before the policy started, or noted as a pre-existing condition, is not covered.
Tasmania home insurance questions
Is home insurance cheap in Tasmania?+
Tasmania generally has some of the lowest home insurance premiums in Australia, reflecting the state's lower cyclone risk and moderate natural hazard profile. However, premiums vary by location — flood-prone areas near Launceston and bushfire-risk rural areas will pay more.
Does home insurance cover heritage homes in Tasmania?+
Yes, but heritage and older homes may attract higher premiums due to specialised rebuilding requirements. The cost of using heritage-appropriate materials and techniques can significantly exceed standard construction costs. Some insurers specialise in heritage property cover and may offer better rates.
What natural disasters does home insurance cover in Tasmania?+
Standard home insurance in Tasmania covers storm, flood (check PDS), bushfire, earthquake, and other natural events. While Tasmania is less exposed to extreme weather than mainland states, the state does experience severe storms, flooding, and occasional bushfire events.
Reviewed by the Cover Club broking team
Last reviewed April 2026. Fact-checked against 5,915 Cover Club quotes.
Cover Club Pty Ltd (ABN 39 686 766 665) is a Corporate Authorised Representative (AR 001315718) of Shanebridge Pty Ltd (ABN 16 011 049 899), AFSL 245566.This page is general information only and doesn't consider your circumstances — consider the relevant PDS and your needs before deciding.
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