Risk does not only exist in the outside world. Our homes, where we feel the safest, can also face many risks. One of the best ways to take precautions against these risks is to secure your home with home insurance.
What is Home Insurance?
Home Insurance is a type of insurance that financially covers your home and dwelling against many possible risks.
Home insurance, which covers your home against many risks such as fire, earthquake, flood and theft, is not compulsory but optional. Although it is not compulsory, it is a highly preferred type of insurance since its coverage includes many topics not covered by compulsory earthquake insurance.
If a home loan is taken out, the bank where the loan is taken out may require the borrower to take out home insurance.
Since the term of the home insurance is one year, it must be renewed every year.
What are the Differences between Home Insurance and TCIP?
Compulsory Earthquake Insurance (TCIP) provides coverage for earthquake-related damages and damages caused by earthquake-related disasters such as fire, landslides and tsunamis.
Home insurance, on the other hand, can cover not only earthquake and earthquake-related disasters, but also financial damages that may occur due to many different situations; it makes it possible to compensate not only the house itself, but also the damages that may occur to the items in the house.
How are Home Insurance Prices Determined?
There are some factors that play an important role in the home insurance calculation process. These factors are the main ones;
- The province and district where the house to be insured is located
- Measurement of the dwelling in square meters
- Structural features of the building
- Quality of materials used in housing design
- Floor on which the dwelling is located
- Coverage titles included in the policy.
- Make sure that your address is registered correctly to avoid problems in claim settlement.
- Pay attention to your plan selection, the main and additional coverage offered by your policy, and the special conditions of the offer.
- To avoid the risk of under- or over-insurance, determine the cost of the dwelling, property or glass as accurately as possible.
- Renew your policy before it expires.
What are the Exclusions of Home Insurance?
Damages caused by war situations, invasions, enemy actions, civil war, collision, revolution, uprising, military movements, etc. are excluded from coverage.
Damages caused by radiation due to nuclear fuel, damages arising from the state’s disposition of the insured asset and damages caused by the insured property’s own fault (except fire) are also excluded from coverage.
What Does Home Insurance Cover?
When it comes to home insurance, many people are also curious about the main and additional coverage of home insurance. The titles covered by home insurance policies, which can be applied for movable and immovable properties, vary according to the scope of the policy and the insurance companies that issue the policies.
By paying additional fees, you can increase the coverage limits of your policy and ensure that it covers more damage areas.
