Are new construction homes cheaper to insure?

Are new construction homes cheaper to insure in Australia, yes new homes $500K to $1M are generally cheaper to insure than older homes $500K, with premium 10% to 20% cheaper $1,200 per year versus $1,500 for older home, due to better building standards, materials and lower risk of fire, storm and water damage. New construction homes built after 2000 with modern standards AS3959 bushfire, cyclone codes, electrical and plumbing, have lower risk of fire due to modern wiring, storm due to engineered roof and water damage due to new plumbing, so insurers charge 10% to 20% less, with $500K new home building insurance $1,200 to $1,500 per year versus $500K older home 1970s $1,500 to $1,800 per year, saving $300 per year. For example, new home 2020 $500K building Budget Direct $1,100 per year, older home 1970s $500K $1,400 per year, with new home having lower excess $500 and flood included, older home higher excess $1,000 and flood excluded if high-risk. New homes also have lower contents risk $30K to $80K with modern security and smoke alarms, saving $50 per year. So new construction homes cheaper to insure 10% to 20% cheaper $1,200 versus $1,500 for older home due to modern building codes, materials, electrical, plumbing and lower claims risk, with new home $500K building $1,200 to $1,500 per year versus older $1,500 to $1,800, saving $300 per year, plus lower maintenance $2K versus $5K per year for older home.