What are the different factors that influence the premium of a home insurance policy?

Besides the value of the property you want to insure, the premium of a home insurance plan is dependent on factors such as: 


The location of the property/house determines the price of the house, thus indirectly affecting the premium of the home insurance plan when it is purchased. If the home/property is in a location that is near to the schools, hospitals, etc., the premium would be comparatively higher. 

Risk of natural calamities

If you live in an area that is susceptible to any kind of natural calamities, the premium would see a considerable increase. 

Age of the property/contents

Just like an older individual incurs a higher health insurance premium, a structure/item that has been in existence for a long time will incur high premiums. An older building structure means that it is more vulnerable to damage.