Mapping: Shocking Differences in Your Council Area Insurance Premiums

It seems like life isn’t expensive enough, and the new data shows the most difficult things for homeowners when it comes to home insurance.

A new discoverer analysis of the average quotes of three major insurance providers in Australia’s largest capital city, the most densely populated council area, reveals the deepest pockets homeowners need. The results are surprising.

From disaster to the wave of crime, there are a range of factors that drive premiums, which put increasing pressure on homeowners’ hip pockets.

Click here to browse our interactive map

Here is what Finder found in some of the main council areas of our four major cities:

Melbourne

Homebuyers in Melbourne’s traditionally safer suburbs are stinging with crime and soaring construction costs, driving a sharp hike in family insurance premiums.

Exclusive analysis from Finder shows that the average premium in Victoria jumped $425 a year to $2,442, the largest annual growth in the U.S.

Now, the most expensive municipality is the $2,812 Bayside, with spikes linked to rising crimes such as family break-ins and aggravated thefts.

High-profile residents such as Rebecca Judd have voiced safety concerns in affluent suburbs such as Brighton, where residents are planning to self-fund a $300,000 a year security presence to clamp down on out-of-control crime, while St Kilda has seen a spat of break-ins, including a terrifying home invasion at the home of actor Asher Keddie and artist Vincent Fantauzzo.

Finder insurance expert Peta Taylor said insurers are now considering crime rates and rebuilding costs into risk profiles instead of focusing only on bushfires and flooding superposition.

“It’s not only about the value of your house, but also about the price of replacing it, where it is and how much risk it is,” Ms Taylor said.

“If the postal code keeps making claims for break-in or theft, then premiums will rise.”

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Sydney

They are the zip codes for homeowners being stodund, with their hidden annual premiums as high as $4,000 a year – in addition to the sublime mortgage repayments and council fees they have already paid.

This is an alleged homeowner, as this is their loan terms, so there is little chance of getting away.

Analysis by finder.com.au shows that home insurance premiums across Sydney are shocking, and now the premiums in the insurance money pits in some cities are much higher.

Many of these areas are concentrated in western Sydney, where residents are under the highest rate of mortgage pressure in the country.

Discoverer insurance expert Peta Taylor said allegations in certain areas equal “Post Lottery for Steroids.”

“It’s surprising. We’re talking about families in Sydney’s outside metropolitan paying more for insurance than families in some of Melbourne’s most prestigious postal codes.”

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Brisbane

Queensland’s insurance premium snapshot shows that some residents cover more than $11,000 per year for homes and content – ​​many residents have already covered the above expenses due to the stress of living.

Brisbane residents were hit hardest, with a record premium far above the national average of $2,790.

Finder’s analysis found that homeowners in Brisbane LGA paid the highest insurance in major capital cities, while the average premium for random addresses was $11,881.

One provider quoted an astonishing $14,905.

“It’s a cruel twist: more and more people are flocking to the leisurely lifestyle of Queensland, the more they are attracted by disastrous premiums,” Peta Taylor, a finder insurance expert, said, adding that Brisbane has six times the criticality of Melbourne with record premiums.

The shocking figures are the state’s inland areas fighting ongoing widespread flooding after Alfred crossed the Moreton Bay Coast earlier last month after the previous cycle Alfred crossed the Moreton Bay Coast earlier last month.

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Adelaide

According to the study, the most expensive council area is Charles Sturt – Charles Sturt spans from Brompton to West Beach to West Lakes Shore – with an average premium of $2593 on average at $980,000.

The first provider’s offer highlighted the need to shop when purchasing insurance, at $1,644, and the other priced at $16,39, but the third provider’s offer was as high as $4,496.

The Adelaide Hills is the second most expensive, with an average premium of $2,564 and a $1.075 million price tag.

Unlike Charles Sturt, only $266 separates all three quotes.

The Adelaide, Holdest Bay and Claire and Gilbert Valley Council areas ranked the top five in terms of the most expensive premiums.

Surprisingly, the council area with the highest median price is one of the cheapest insurances.

The Burnside Council’s median home premium of $1.65 million is just $1,515.

Playford has the lowest average premium for any council area, at $1,261 and $580,000.

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