On 06.02.2023, our country experienced a very destructive and sad earthquake event centred in Kahramanmaraş and affecting 10 provinces. The destructive dimensions of the disaster began to be revealed as the days passed. Affecting 15 million people, this natural event caused tens of thousands of people to lose their lives. In these days when we are trying to heal the wounds of the earthquake, on the one hand, the prosecutors specially assigned by the HSK for the earthquake region are collecting samples from the collapsed buildings and having them examined by experts. On the other hand, security forces are keeping a watchful eye on the region in order to protect valuable items that may be found in the rubble.
While this is the case, TCIP (Compulsory Earthquake Insurance) comes to mind first.
Dask Compulsory Earthquake Insurance covers the material damages directly caused by earthquake and earthquake-induced fire, explosion, tsunami and landslide within the limits specified in your policy.
Your building is covered even if it is completely destroyed or partially damaged.
Foundations
Main walls
Common walls separating independent sections
Garden walls
Retaining walls
Ceilings and floors
Stairs
Elevators
Landings
Corridors
Roofs
Chimneys
Complementary parts of the building similar to the above
What are the Situations Excluded from Coverage?
Compulsory earthquake insurance covers material damages caused by earthquake and earthquake in your building.
Damages that occur in the following situations are excluded from the coverage. These are
Debris removal costs
Loss of profit
Work stoppage
Rent deprivation
Alternative residence and workplace costs
Financial liabilities and all other consequential damages that may otherwise be asserted
All kinds of movable goods, goods and the like
All bodily injury and death
Claims for moral damages
Damages other than earthquake and earthquake-induced fire, explosion, tsunami and landslide
Damages caused by the defective structure of the building itself, independent of the earthquake.
For damages with these characteristics, different housing insurances can be preferred in addition to Compulsory Earthquake Insurance.
WHAT IS THE MAXIMUM COVERAGE LIMIT?
TCIP aims to ensure that policyholders can safely resume their lives after a possible earthquake disaster with Compulsory Earthquake Insurance.
TCIP, which says “The earthquake will pass, life will go on…”, provides a maximum amount of coverage determined every year according to the increase in construction costs. The maximum amount of coverage provided by TCIP is TL 640,000 for all building types as of 25 November 2022.
WHAT IS THE MAXIMUM GUARANTEE AMOUNT DETERMINED ACCORDING TO?
While determining the maximum coverage amount, the cost of rebuilding the demolished dwelling (excluding the land value) is taken into consideration. The insured’s sum assured (insurance amount) – provided that it does not exceed the maximum sum assured – is determined according to the size and construction style of the dwelling.
If the value of the dwelling exceeds the maximum coverage amount provided by TCIP, the insured may optionally obtain additional coverage from insurance companies for the excess amount. For this purpose, you must have housing insurance from private insurance companies.
WHICH BUILDINGS ARE COVERED BY THE GUARANTEE?
In general terms, Compulsory Earthquake Insurance is an insurance system developed for dwellings within municipal boundaries.
Pursuant to Law No. 6305 on Catastrophe Insurance, the following buildings are covered:
Buildings constructed as dwellings on immovables registered to the title deed and subject to private property,
634 numbered independent sections within the scope of the Condominium Law,
Independent sections within these buildings and used for commercial, office and similar purposes,
Dwellings built by the state due to natural disasters or built with the loan granted.
Compulsory Earthquake Insurance also complies with the above conditions;
Buildings where a condominium easement has been established,
Buildings that have not yet been allocated in the land registry and appear as “land etc.” in the land registry,
It is also valid for co-operative houses for which the title deed has not yet been allocated.
NOTE: The insurances of the dwellings that do not yet have an independent title deed and were built before 2000 can be made based on the declaration of the insured and with the information belonging to the land title deed.
WHICH BUILDINGS ARE EXCLUDED FROM THE COVERAGE?
The types of buildings excluded from the scope of compulsory earthquake insurance are as follows:
Buildings and independent sections subject to the Public Housing Law dated 9/11/1983 and numbered 2946 or used as public service buildings,
Buildings constructed in and around the village settlement areas and hamlets by those registered to the village population and permanent residents of the village,
Buildings used entirely for commercial and industrial purposes,
Buildings that do not have a project and have not received engineering services,
Buildings found to be modified or weakened in a way to adversely affect the carrier system,
Buildings constructed in violation of the relevant legislation and project in a way to adversely affect the carrier system,
Buildings that are decided to be demolished by authorised public institutions and buildings that are not suitable for residential use, neglected, dilapidated and abandoned buildings are excluded from the scope of compulsory earthquake insurance.
NOTE: Village settlements are excluded from the scope of insurance due to low income levels, lack of municipal inspection of buildings and difficulties in the provision of insurance.
However, it is possible to obtain Optional Earthquake Insurance for buildings located in villages.
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