Home insurance is a type of insurance that provides comprehensive coverage for homeowners. After the earthquakes in Kahramanmaraş, what the housing insurance offered in earthquake coverage was among the topics that were curious. So, what is house insurance earthquake coverage, what does it cover? Ethica Insurance Işıl Akyol, Member of the Board of Directors, answered the questions about the subject.
What is Housing Insurance? Is it mandatory?
Our homes, belongings and life at home are open to various risk situations. These risks include flooding, landslides, fire and even theft. However, of course, many people have an earthquake risk in mind recently, thousands of our citizens have lost their lives in the recent earthquakes, tens of thousands of houses have been destroyed or severely damaged. DASK insurance, of course, is an important guarantee, but its scope is limited.
housing insurance Although it is not mandatory, it stands out with the additional guarantees it contains. The main and additional coverages of home insurance may vary according to insurance companies. Common coverages include fire and damage caused by fire, while additional coverage is quite extensive. Under the policy, home insurance can even cover glass breakage, flooding, theft, debris removal, assistance service and home assistance service.
What is Housing Insurance Earthquake Coverage?
Earthquake coverage of house insurance is one of the most important guarantees. Compulsory earthquake insurance TCIP covers the damages of earthquake and earthquake-related disasters. However, the TCIP's process of issuing the damages in the building after the damage is different. DASK does not pay the current value of the house. It pays the amount determined for reinforced concrete structures every year, so there is a difference with the fair value. In 2022, this amount was 3016 liras per square meter. Considering that the average house prices in Istanbul today exceed 2 million liras, the compensation of 100 thousand liras for a 301 square meter house is far below the current value. Those who add earthquake coverage to their home insurance have the right to compensate the difference.
How to Get Home Insurance Earthquake Coverage?
Housing insurance is not a compulsory type of insurance, but it represents an important assurance with the guarantees it provides. Therefore, everyone should care about housing insurance against possible risks that may occur in their home. To get a home insurance quote, you can choose online channels. It is possible to reach online home insurance options through insurance companies and banks. You can find out the current policy status with the home insurance inquiry process. Housing insurance prices are different compared to 2022. You should contact the companies to get a clear offer.