Increase in compulsory insurance coverage against earthquakes

The price per square meter of the building, which is the basis for calculating the compulsory earthquake insurance, was increased by approximately 50 percent and increased to 3,16 TL for reinforced concrete structures and 2,080 TL for other structures. .

The maximum guarantee to be provided has also been increased by 50 percent.

According to the statement that modifies the mandatory earthquake insurance rate and the instructive statement published in today’s edition of the Official Gazette, the price per square meter, which is the basis for calculating the cost of insurance, is; It was increased from 1,508 TL to 3,016 TL for reinforced concrete buildings and from 1,040 TL to 2,080 TL for other structures.

INCREASE FROM 320 thousand TL to 640 thousand TL

Within the scope of the Compulsory Earthquake Insurance, the maximum amount of coverage that can be provided for a dwelling, regardless of the construction style, was increased by 50 percent from TL 320,000 to TL 640,000.

In accordance with the regulation made with the Communiqué, if the insurance is renewed within 30 days at the latest at the end of the policy term, the discount rate on the tariff prices increases from 10 percent to 20 percent. .

With the Communiqué, the minimum amounts of the obligatory insurance premiums against earthquakes were also increased.

In any case, the minimum premium amounts to be applied from the first group to the seventh group according to the risk group; From 140TL to 280TL, from 120TL to 240TL, from 90TL to 180TL, from 70TL to 140TL, from 55TL to 110TL, from 45TL respectively. Increased to 90 TL and from 40 TL to 80 TL. (Reuters)