Earthquake insurance،What is the role of insurance companies?
Given the geographical location of Turkey, it is vulnerable to the meeting of tectonic plates with the Eurasian plates, which explains its exposure to many earthquakes, which were among the most prominent in modern history; The earthquake that occurred in Turkey in 1999 and was known as Marmara, and its impact included the states of Istanbul, Sakarya, and Kocaeli, especially the Izmit region, which recorded the largest number of victims of this earthquake. Where the earthquake reached a magnitude known as torque on the Richter scale, reaching 7.6 and killing more than 17 thousand people, and leaving behind half a million people homeless, which prompted the government to impose earthquake insurance in Turkey.
Earthquake insurance in Turkey is a compulsory coverage provided by the state. Aside from the seismic cover, it also protects against disasters such as fires, explosions, landslides, and tsunamis caused by earthquakes.
The method of obtaining earthquake insurance in Turkey is very easy and smooth, it is done by most Turkish insurance companies, and at reasonable rates suitable for everyone, since the latter is subject to monitoring by the state, it is sufficient to declare the ownership of the house or property and the identity.
So, to get earthquake insurance, one can register at the nearest insurance agency or bank branch.
The documents required to obtain this insurance are personal identification information, phone number, tax number, address of the property to be insured in detail, property title deed information (tapu), type of property, building deed, number of floors, area, and form of use of the property, whether it is for housing Or work ...
Insurance rates are subject to annual review, taking into account several factors such as the type of building, the total area of residence, and the level of seismic risk, as this price is affected by several criteria such as the seismic level, which is intended to be classified according to the area and the severity of the earthquake.
Insurance companies provide multiple discounts, including:
If the owners of apartment buildings or sites submit a group application, the security deposit will be reduced. Also, policyholders who renew compulsory home insurance every year benefit from a renewal discount. It is possible to take advantage of these two separate liabilities at the same time.
In the event of an earthquake, there is a call center which is 125
The mission of this center is to assess the damage immediately by visiting and inspecting the property and the condition of the property and thus assessing the loss and determining the amount of compensation. Insurance officials settle claims and compensation as quickly as possible.
Once the damage is assessed by the center, the compensation amount will be deposited into the insured's bank account as soon as possible.
Through compulsory earthquake coverage, the insured benefits from financial loss compensation due to the earthquake that struck his property faster and easier.
Real estate experts provide advice related to earthquake insurance in Turkey, the most important of which is that it is better to buy real estate built after 2007 because it was built and studied according to modern standards, so it is more earthquake-resistant and habitable with continuous comfort, but this does not mean that it is exempt from earthquake insurance. Because this insurance covers all buildings in Turkey, both new and old.
Based on this advice, it is imperative to choose an experienced real estate consultant before purchasing the property.