House insurance in Turkey
House insurance is the most important insurance which protects your house and family. House insurance is a type of insurance which aims to protect your house from destruction, robbery, terrorism and accidents. Since is cannot known what the next day brings, house insurance covers you for any risk.
Knowing that your house is covered by an insurance makes you feel safe whenever you are away from house. You can insure your house with monthly instalments. These insurances are issued annually. It can be renewed every year. If you are having your house insurance from the same insurance company for a long time, you may have discounts as well.
If any of the damages mentioned above has occurred in your house, mostly the furniture would be damaged as well. For that reason, it is necessary that the houses are insured together with the furniture in it. You can get your furniture covered for a little extra cost.
In order to have house insurance, you do not need to be a house owner, you can get your furniture insured by purchasing only furniture collateral if you are a tenant.
Why you should have house insurance?
Your house is the place where you live in peace with your family. For some, house means peace and it means shelter or a stronghold for some others. You should have your house insurance to secure this special and valuable place against any risk.
While purchasing house insurance, you should pay attention to choosing the right collaterals for full insurance against changing climate conditions, storms, heavy rains, earthquakes, fires as a result of negligence and robberies that increased recently.
The damages which may be caused in your house by various risks is way more expensive than an average house insurance policy premium. You can insure your entire house and even your furniture with premiums varying according to the features of your house.
Which Risks You Can Cover with House Insurance?
House insurance covers the building and optionally the furniture in the house. In that case, any and all fixed installations inside the building are covered in the insurance with building collateral.
In case of any damage, mostly the furniture is damaged as well. For that reason, it is necessary to insure the houses subject to the insurance together with the furniture in it. Thus, a broader assurance is purchased for a little extra cost.
Tenants can insure their furniture by purchasing only furniture collateral.
House insurance collaterals in Turkey
House insurance is necessary for the house and the furniture in it. To benefit from this insurance in the best manner, the most appropriate collaterals should be chosen.
- Hard Collaterals in House Insurance
House insurance collaterals vary according to insurance companies, but the hard collateral which is common in all of them is fire collateral.
Fire collateral: Covers the damages caused by fire, lightning and explosion.
- Additional Collaterals in House Insurance
More risks are covered in house insurance by extending the collaterals with additional collaterals.
Strike, lockout, riot, civil commotion and malicious acts: Covers the damages which may be caused by such acts. For each damage, exemption applies in the rate of 5% (five percent) of the damage cost.
Flood: Covers the damages caused by overflowing of the rivers, streams and channels around the insured house and the floods caused by heavy rains.
Glass Breaking: This collateral covers the damages which may occur as a result of breaking of the class and mirrors which are fixed and mounted vertically.
Personnel Accident: In the event that the insured dies as a result of an accident covered by the policy at the risk address, a compensation is paid to his/her beneficiaries within the limits and general provisions specified in the policy and the compensation is paid to him/her in the event of permanent disability as a result of such accident.
Theft: Covers goods stolen as a result of theft and the damages to be caused in the building and goods by the thief.
Support Services: Provides repair services for water installation, electricity, locksmith, glass, etc. and emergency services and communication services.
Protection from inflation: This collateral ensures that building and furniture maintain their current value in inflation environment. The insurance amount is increased in the rate of protection from inflation to be selected during insurance period. However, if the rate selected on the damage date is over the rate to be announced by the State Statistics Institute, the rate of the State Statistics Institute is taken as basis.
Earthquake and Volcano Eruption: Covers all the damages to be caused by earthquake and volcano eruption directly on the insured assets. It makes payment primarily within the compulsory earthquake insurance (DASK) limits in case of earthquake damages. DASK policy provides coverage up to the top limit determined by DASK. For the part exceeding this amount, the earthquake and volcano eruption collateral within the scope of house insurance should be purchased optionally.
Head of the family liability: Covers the physical and financial damages that the insured and his/her family residing in the same house may cause to the third parties in the insured house as a result of an accident.
Internal water: Covers the damages occurred in the house as a result of burst, overflooding, leaking, jamming, breaking and freezing of the water installation and the damages which may occur as a result of leaving the taps running.
Landslide: Covers the damages which may occur in the insured assets as a result of landslide or land subsidence on or around the land where the insured building is built.
Car crash: Covers damages which may occur as a result of crashing of the land vehicles and aircrafts into the insured house.
Storm: Covers the damages which may occur as a result of storm or the objects dragged or moved by the wind during a storm.
Smoke: Covers the damages which may be caused by the smoke from defective operation of the heating or cooking devices connected to the chimney with a pipe or vent.
Weight of Snow: The snow gathered on the roof after heavy snow may damage the roof and building and the furniture in the building due to its weight. Weight of snow collateral covers the damages which may occur in the building and the insured assets in the building.
Fire financial liability and loss of rent: Covers the damages that the insured, tenant and property owner may cause to each other as a result of damage arising from their liabilities.
Removal of debris: Covers the costs of removing the debris as a result of the damage.
Alternative residence address change costs: In the event that the insured house becomes useless as a result of a damage, the cost of another house during the repair and reconstruction of the damaged house is covered within the collateral and limit specified in the policy.
What are the circumstances not covered by the house insurance?
As in all other insurance type, the circumstances which are covered and not covered are specified with special and general provisions in house insurances. General provisions of house insurance are the same for all insurance companies. Special provisions vary among companies.
The circumstances which are not covered in the house insurance according to general provisions are given below:
All damages caused by war, all kinds of war acts, invasion, foreign military actions, battle (whether war is declared or not), civil war, revolution, riot, uprising and the required disciplinary and military actions,
All damages caused by any nuclear fuel or nuclear waste as a result of burning nuclear fuels or the ionizing radiations and radioactivity contagions due to the reasons attributed that and the required disciplinary and military measures (The expression of burning in this clause will include any self-sustaining nuclear decomposition.),
All damages occurred due to disposals on insured assets by the public authorities,
The damages that the insured assets may suffer due to their own faults and failures in these assets without a fire,
Damages caused by scorching of the insured assets without fire to be processed or for any other reason, dropping or throwing such assets in a similar place with fire, roasting of the clothes and other goods without catching fire and burning of such items or contact with heating, lighting, ironing devices and lamps, candles, cigarettes and similar objects,
The damages that all kinds of engines, electric or electronic devices, instruments, installations and cords may suffer due to short circuit, grounding, voltage drops and rises without fire and causes such as overheating and induction current,
Collapsing, tearing and similar deformation, wearing of containers due to low current, damages occurred in insured devices and engines due to centrifuge forces and mechanical incidents.
Is house insurance compulsory?
House insurance is an optional insurance. However, it is of vital importance. One of the most important properties we have, our houses accommodates us and our families. Certainly, we do not want any damage to our home where we feel safe.
In that respect, it is an insurance that we feel obliged to have even though it is not legally compulsory.
Have your house insurance to protect your house, furniture and family from various risks.