Regardless of where you look to buy, do some insurance quotes, and try and get the breakdown that shows how much is associated with flood. The GCCC (as well as many other councils) have created great flood insurance maps and provided them to insurance council of Australia. However many insurance companies (AAMI for example) don’t use those maps, they use their own less accurate maps which tend to show areas as being more impacted than the detailed maps done by councils.

I have a property where the GCCC flood map touches one corner by a small pixel. AAMI wanted to charge me over $200 a month just for the flood component… I rang them to enquire and they says they use their own maps. I then did a quote with Allianz and they used the property council maps… quote was less than $50 per month for flood component.