It may not be possible to prevent earthquakes and natural events, but it is in our hands to take precautions against earthquakes. TCIP is one of these measures.
According to the earthquake map, our country is located on the KAF, DAF and BAF fault lines. This means that as a country, we are constantly facing the danger of earthquakes.
It may not be possible to prevent earthquakes and natural events, but it is in our hands to take precautions against earthquakes. TCIP is one of these measures.
TCIP, which stands for Compulsory Earthquake Insurance, is a compulsory policy type and helps to financially cover disasters such as earthquake or earthquake-induced explosion, fire, tsunami.
Which buildings are covered by Compulsory Earthquake Insurance?
The TCIP policy covers buildings constructed as dwellings within municipal boundaries and commercial premises within these buildings.
Which buildings are not covered by Compulsory Earthquake Insurance?
- Buildings belonging to public institutions and organizations,
- Buildings outside the municipality boundaries,
- Structures in villages,
- Buildings constructed for purely commercial purposes (business halls, factories, educational facilities).
- Incomplete construction.
- Buildings without title deed registration.
- Dilapidated and neglected abandoned buildings that are not used as dwellings
When Should Compulsory Earthquake Insurance be Renewed?
TCIP validity period is 1 year from the issuance of the policy and must be renewed every year.
- Foundations
- Main Walls, Retaining Walls and Garden Walls
- Ceiling and Floor
- Stairs and Corridors
- Elevator
- Roof and Chimneys
What are the Conditions Excluded from Compulsory Earthquake Insurance Coverage?
Household goods, debris removal, loss of profit, business stoppage, loss of rent, alternative expenses, financial liability, moral indemnity claims, bodily damages and death, destruction and damages caused by non-earthquake are excluded from coverage.
What Information and Documents are Required for TCIP?
- Insured’s name, address, contact information, Turkish Republic identification number, tax identification number for legal entities
- Open address of the place to be insured, title deed information, year of construction of the building, total number of floors in the building, building damage status
- Gross area and type of use of the place to be insured
How to Calculate TCIP?
When calculating the TCIP insurance cost;
- Earthquake risk in the region
- Structural characteristics of the building (building age, etc.)
- The gross square meters of the dwelling.
