If you are living in an apartment, then the conventional house insurance plans will not be able to correctly assess your home insurance. These are because there are nuances related to the risk elements involved in a flat or apartment insurance that may affect the insurance premium differently and are not in sync with generic house insurance norms.
This is why the special category of flat or apartment insurance has been created. Consider the fact that a flat or an apartment is not an isolated entity. Though all the rules of generic home insurance plans apply here but there are additional factors which have to be taken into account for the insurance plan to be considered.
For example, one of the clauses of a house insurance plan is the distance of the house from the nearest fire station. This is applicable pointedly at a stand-alone house. But if you consider an apartment or a flat, then what also matters in addition to the distance of the building from the nearest fire station is the floor that the apartment is on. The higher the floor is the lesser the accessibility. If in an even of fire, the firemen have to reach an apartment on the third floor and an apartment on the seventh floor, which apartment is in an easy reach? Obviously the one on the third floor is.
Hence, when a flat or apartment insurance plan is to be considered, then the floor of the apartment is to be taken into account. The higher the flat is, the higher the insurance premium amount is because as illustrated above, in an event of fire or any natural or manmade calamity, the lesser the accessibility to prevent the event, the more the damage and hence the higher are the chances to file for claim and so the insurance premium is higher too.