Ans: The premium amount for a baggage insurance policy depends on the following factors:1. Sum insured- The higher the amount of sum insured, the higher your insurance premium will get2. Geographical location- The premium for a baggage insurance policy depends on the travel destination of the traveller. 3. Terms and Conditions- The terms and conditions of a baggage insurance policy also help to ascertain the premium amount which has to be paid by the traveller.