Toorak stands at the peak of Melbourne’s luxury property market — home to grand estates, heritage mansions, architectural residences, private compounds, luxury apartments and some of Australia’s most expensive real estate.

But 2025 has changed the insurance landscape dramatically for Toorak homeowners.Rising construction costs, heritage protection requirements, increased claims severity and high-value contents trends mean Toorak is now one of Australia’s most underinsured suburbs — despite its wealth.

This report reveals what has changed, which homes are most exposed, and why Toorak properties now require specialist luxury home insurance, not retail cover.

1️⃣ Toorak Is Now Considered a “High-Complexity Rebuild Suburb”

Toorak’s architecture and topography make it extremely challenging — and expensive — to repair or rebuild.

Homes in areas around:

• St Georges Road

• Albany Road

• Irving Road

• Hopetoun Road

• Clendon Road

• Linlithgow Road

are built with:

✔ bespoke architectural designs

✔ imported stone, marble & European fixtures

✔ heritage-listed structural elements

✔ specialised ironwork & façade details

✔ expansive basements & multi-car garages

✔ premium landscaping & resort-style outdoor zones

These features dramatically increase rebuild costs — often far beyond standard insurer limits.

2️⃣ Construction Costs in Toorak Have Surged in 2025

Luxury building projects in Toorak now average:

$8,000–$17,000 per sqm,

depending on architectural design, heritage requirements, site access and material selection.

Most Toorak homes are underinsured by 30–60%, including:

• newly renovated heritage mansions

• architectural homes with steel-and-glass designs

• premium apartments with bespoke interiors

• homes with multi-level basements

• estates with high-end landscaping and pools

If a total rebuild is required, many Toorak homeowners would face multi-million-dollar shortfalls.

3️⃣ Heritage Properties in Toorak Require Specialist Restoration — Not Standard Cover

Toorak has one of Melbourne’s highest concentrations of heritage properties.

Insurers are increasingly applying restrictions because heritage homes require:

• authentic materials

• specialist restoration trades

• council-approved reconstruction

• extended work timelines

• bespoke replacement fittings

Retail insurance simply cannot cover the true cost of heritage restoration.

Specialist luxury insurance is essential for older Toorak mansions.

4️⃣ High-Value Contents in Toorak Are Often Not Properly Insured

Toorak homeowners typically possess:

• fine art & sculpture collections

• luxury jewellery & watches

• antiques

• couture fashion

• designer furniture

• bespoke interior décor

• high-end technology systems

Retail insurers cap contents far below what is needed.

Specialist high-value contents cover includes:

✔ worldwide protection

✔ accurate valuation

✔ accidental damage

✔ coverage for rare & irreplaceable items

✔ flexible limits

5️⃣ Toorak’s Smart Homes Face Rising Cyber & Technology Risks in 2025

With many luxury homes adopting full automation, smart security and integrated systems, cyber-related insurance claims have increased.

Risk factors include:

• hacking & unauthorised access

• smart-lock breaches

• identity theft

• security camera compromise

• electronic system failure

• 
  

Specialist luxury policies now include cyber protection & digital asset cover — retail insurers generally do not.

6️⃣ Liability Exposure Has Increased for Large Toorak Estates

Toorak households often employ:

• gardeners

• domestic staff

• chauffeurs

• contractors

• cleaners

• pool technicians

• property managers

This requires significantly higher liability limits than standard home insurance provides.

Premium home policies offer:

✔ tens of millions in liability cover

✔ cover for domestic staff injuries

✔ coverage for contractor-related incidents

Critical for large Toorak estates.

Why Toorak Homeowners Choose Luxsure in 2025

Luxsure specialises in high-net-worth, private-client insurance designed for Australia’s elite suburbs — with Toorak being a primary focus.

We offer:

✔ True-value rebuild assessments

Tailored specifically for Toorak luxury construction rates.

✔ Heritage & architectural restoration cover

Restoration, not replacement — a must for classic Toorak homes.

✔ High-value contents & valuables protection

Fine art, jewellery, antiques, collectibles & couture.

✔ Cyber & smart-home protection

For digital-integrated estates.

✔ Fewer exclusions & higher limits

Retail insurers simply cannot match this.

✔ VIP, discreet claims handling

Trusted by affluent households and property owners.

📞 Protect Your Toorak Home With Specialist Luxury Insurance

Whether you own a:

• St Georges Road mansion

• architect-designed contemporary home

• heritage estate

• luxury apartment

• multi-level family residence

your property deserves coverage that reflects its true value, materials, architecture and risk profile.

Request your confidential Toorak luxury home insurance assessment today. Protect your legacy with elite cover built for Melbourne’s most prestigious suburb.