There are so many factors that a cheap home insurance plan depends on. Let us start looking at them from the rear end of the list. One of the factors that cause minor change to a home insurance is whether the house is a flat or an independent house.
This is important because an independent house will have be easy to assess for the risk element considering its isolation from any property attached to it, but if one was to consider a home insurance plan, then one must understand the risk element is high in a flat that may be high up in the building.
The reasons for the higher risk element are many, the primary being the accessibility. The higher the flat is above in a building, the lesser accessible it is and hence in case of –let us say- a fire, the damage to the property will be more. Also, in case of apartments, it is not only the owners of the apartments and those in the immediate vicinity whose error can cause theft , fire or incidents of this sort, but also those who may be living below and further up. The more the number of people in a small area, the grater the chaos and this is the principle that is taken into account when an insurance company tried to assess the premium amount for a house.
Hence an apartment in a building in all likelihood will have a higher amount of insurance premium than probably an independent house, given their distance being the same from the nearest fire station. But this is not the only one factor that is to be taken into account. Another factor takes into account the materials that have been used to make the house. If the building material is something as flammable as wood, then the insurance premium is high and vice versa. This is how home insurance is considered taking into account the above mentioned factors.