Compulsory Earthquake Insurance 

Products Compulsory Earthquake Insurance

Compulsory Earthquake Insurance

Premiums can be afforded by everyone.The premium amounts of the policies - that are provided annually - are calculated according to the building style, gross surface area of the dwelling and the earthquake risk level of its region. TCIP pays great attention to keeping the premium amount at an affordable level for all citizens.
Compulsory Earthquake Insurance Coverage


 
1- It is a state assurance against earthquakes. 
Compulsory Earthquake Insurance is an assurance provided by the state. This insurance provides assurance for dwellings against earthquakes and disasters such as fires, explosions, landslides and tsunami caused by earthquakes.

2- It is easy to obtain.
Everybody - who states their dwelling and identity information – can acquire policy.


3- Premiums can be afforded by everyone.
The premium amounts of the policies - that are provided annually - are calculated according to the building style, gross surface area of the dwelling and the earthquake risk level of its region. TCIP pays great attention to keeping the premium amount at an affordable level for all citizens.


4- Discount options are offered, as well.
In the event that people residing in apartment blocks or sites make collective application, a discount is implemented on the policy amount. Moreover, the policy owners – who renew their policy every year – benefit from renewal discount. It is possible to benefit from these two separate discounts at the same time.


5 - The "New Life" begins when you call "ALO TCIP".
The policy owner applies initially to the ALO TCIP 125 Call Center when his/her is damaged in an earthquake. 

6- The loss is immediately assessed.
Following the insured's claim notification, TCIP Loss Adjustors visit the insured dwelling. Thus, the loss is assessed in the shortest period possible and the indemnity amount is determined.

7- The loss is indemnified in the shortest period possible.
The indemnity amount is deposited to the bank account of the Right Holder - whose name is written in the title deed - as soon as possible. The Right Holder receives the indemnity payment from the closest bank branch.

8- Life turns back to normal "more quickly".
Holders of Compulsory Earthquake Insurance acquire the opportunity to eliminate the pecuniary loss – caused by earthquake on their dwellings – faster and easier. This "crucial" opportunity enables the life to continue from where it is left in a very short period of time.

9- Earthquake will pass, and life will go on...
You can secure your future and loved ones with Compulsory Earthquake Insurance. Moreover, you can be the mediator for giving hope to other people's lives "once again" in a potential earthquake.



Maximum Sum Insured

The square meter unit costs* which are used in the calculation of insurance fee (assurance amount**) and determined according to the building style are as follows as of 1 January 2017:

 
Type Of Building Cost for Squaremeter
Steel, Concrete, Carcass                           750.-TL
Masonry                           540.-TL
Other                           275.-TL


(*) The costs in question are re-determined by taking account of the changes in the "Building Construction Cost Index" declared by the public office, and announced in the Official Gazette.
(**) Maximum assurance amount is 170 thousand TL for all building styles.

Is there a deductible for Compulsory Earthquake Insurance?
For each loss, a deductible of 2% is applied. Damage arising during any one period of 72 consecutive hours shall be deemed to be a single event.


Is it possible to have an extra insurance for the amount that exceeds the maximum insurable value   of Compulsory Earthquake Insurance?
It is possible to have an insurance for the amount that exceeds the maximum insurable value of Compulsory Earthquake Insurance. For the excess, one may have an Optional Earthquake Coverage additional to their “Residential Fire Insurance policies” on condition that the insured has a Compulsory Earthquake Insurance in place.




PAYMENT METHODS
 
1. Credit Card
2. Bank / ATM / Online Banking: You can use your online banking system to transfer the premium amount from your account to PolicyForExpat account.