Compulsory Earthquake Insurance (TCIP)

Coverage of Compulsory Earthquake Insurance

With Compulsory Earthquake Insurance, TCIP covers the material damages directly caused by earthquakes and earthquake-induced fires, explosions, tsunamis, and landslides within the limits specified in your policy, in cash.

Your building is under coverage even if it is completely or partially damaged.

The following building sections are under coverage, either together or separately:

• Foundations
• Main walls
• Common walls separating independent sections
• Garden walls
• Retaining walls
• Ceilings and floors
• Stairs
• Elevators
• Landings
• Hallways
• Roofs
• Chimneys
• Complementary parts of the structure similar to the above

Situations Excluded from the Coverage

Compulsory Earthquake Insurance covers earthquake and earthquake-induced material damage to your building. Your losses incurred in the following cases are excluded from the coverage:

• Debris removal costs
• Profit loss
• Business interruption
• Rent deprivation
• Alternative residence and workplace costs
• Financial liabilities and all other similar consequential damages that may otherwise be asserted
• All kinds of movable goods, belongings and etc.
• All bodily harms and death
• Claims for non-pecuniary damages
• Damages other than earthquake and earthquake-induced fire, explosion, tsunami or landslide
• Damages that have occurred over time due to the defective structure of the building itself, unrelated to the earthquake
• For damages of this nature, you can opt for different home insurance policies in addition to Compulsory Earthquake Insurance.

Maximum Coverage Limit

With Compulsory Earthquake Insurance, TCIP aims to ensure that policyholders can safely resume their lives after an earthquake disaster.

With the approach of "Earthquakes will be over, life will go on...", TCIP provides coverage at a maximum amount determined every year according to the increase in construction costs. 

When determining the maximum coverage amount, the cost of rebuilding the demolished dwelling (excluding the land value) is taken into account. The insured's sum (insurance sum) is determined based on the size and construction style of their dwellings, provided that it does not exceed the maximum coverage limit.

If the value of the dwelling exceeds the maximum coverage amount provided by TCIP, the insured may optionally obtain additional coverages from insurance companies for the excess amount. You must have home insurance from a private insurance company to be eligible for this.

Buildings Covered

In general terms, Compulsory Earthquake Insurance is an insurance system developed for dwellings within municipal boundaries.

Pursuant to Catastrophe Insurance Law No. 6305, the following buildings are covered:

Buildings constructed as dwellings on immovable properties registered to the title deed and subject to private property,

Independent sections within the scope of the Condominium Ownership Law No. 634,

Independent sections located in these buildings and used for commercial, office, and similar purposes,

Dwellings built by the state or with loans provided by the state due to natural disasters,

Compulsory Earthquake Insurance also covers the following buildings which complies with the above conditions;

Buildings with a condominium easement,

Buildings that have not yet been registered in the land registry and appear as "land etc." in the land registry,

This also applies to cooperative houses for which title deeds have not yet been allocated. We would like to remind you that the insurance of dwellings that do not yet have an independent title deed and were built before 2000 can be insured based on the declaration of the insured and with the information belonging to the land title deed.

Buildings Excluded from Insurance

The types of buildings excluded from Compulsory Earthquake Insurance are as follows:

“Buildings and independent sections subject to the Law on Public Houses No. 2946, dated 9/11/1983 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 or industrial purposes,

Buildings without a project and without engineering services,

Buildings found to have been modified or weakened in a way that adversely affects the load-bearing system,

Buildings constructed in violation of relevant legislation and project specifications that negatively affect the structural system,

Buildings that are decided to be demolished by authorized public institutions and buildings that are unsuitable for residential use, neglected, dilapidated or abandoned buildings."

You can get Optional Earthquake Insurance for buildings that are excluded by the Compulsory Earthquake Insurance.

Village settlements are generally excluded from insurance coverage due to low income levels, lack of municipal inspection of buildings, and difficulties in offering insurance.

However, it is possible to obtain Optional Earthquake Insurance for buildings located in villages. Likewise, buildings used for commercial and industrial purposes can also be covered by Optional Earthquake Insurance.