What Should Be Considered While Making Home Insurance?
Housing insurance is an important formation created to ensure the safety of people's property. TCIP is expressed as compulsory earthquake insurance. On the other hand, private earthquake insurance options are also available. Housing insurance against any disaster that may occur is a very important issue and should be emphasized.
When we say what is home insurance, there are two types of home insurance and they are often confused with each other. The first of these is compulsory earthquake insurance. Compulsory earthquake insurance, also known as TCIP, is a compulsory insurance. Others are referred to as private home insurance. Both are carried out by insurance companies.
TCIP and home insurance are often confused with each other and have the same perception of two concepts. However, TCIP and home insurance are two different insurances. TCIP does not cover the damages that may occur due to non-disaster reasons and the damages that may occur in the goods inside the residence. These guarantees are offered by home insurance. If you want to protect your home and belongings against the risks that may arise due to theft, flood or third parties other than earthquakes, you should have housing insurance.
Below, we have mentioned a few more differences between TCIP and home insurance;
- When we look at home insurance, it is a more comprehensive insurance. Housing insurance covers not only disasters such as earthquake, fire, flood, but also individuals.
- TCIP is based on reducing the damage caused by earthquakes to buildings.
- While TCIP is not cancelled, the housing insurance can be cancelled. Because home insurance is an optional insurance made by private companies.
- TCIP, on the other hand, is referred to as compulsory housing insurance.
- While home insurance has a complementary function, there is no such procedure in TCIP.
- TCIP insurance has a certain limit and it changes every year. There is no such limit for home insurance. If the house insurance covers earthquake coverage, it will pay compensation to the house owner by completing the required amount above this limit.
Both home insurances are an assurance that protects individuals and immovables against natural disasters, theft and many dangers, and offers certain guarantees to individuals. When private home insurance is taken out, most of the costs are covered by the insurance company when people take out home insurance as a result of damage to the house. Privately made home insurance covers many guarantees. When we say how much home insurance is, the prices vary according to the scope of the policy.
What is Compulsory Earthquake Insurance?
The main purpose of the TCIP system, known as the compulsory earthquake insurance, is to secure the property damage caused by the earthquake in the building you own. TCIP stands for Natural Catastrophe Insurance Institution. Among the duties of TCIP, also known as compulsory earthquake insurance, is to regulate and supervise the earthquake coverage system created by the state in cooperation with private insurance companies. People who own real estate in Turkey are required to have earthquake insurance. TCIP policy consists of various items that ensure the security of people's property.
What are the Purposes of Housing Insurance?
- TCIP has undertaken many purposes to ensure the safety of life and property of real estate owners. We have listed some of them below.
- Increasing people's awareness of insurance
- Securing houses against earthquakes
- Contributing to the safety of people's life and property
- Increasing awareness in the formation of healthy and safe structures
- Covering the burden of material damage, relieving the parties to a great extent
- Reducing the state's post-earthquake expenses
It is very important to have home insurance from reliable insurance companies. When we say housing insurance offer; Insurance packages, additional coverages, what should be included in the policy should be considered and decisions should be made according to these criteria.