With Mandatory Earthquake Insurance , financial damages to the insured building (including the staircase, elevator, roof and chimney) and its foundation, caused by fire, explosion and landslide that may occur during or as a result of an earthquake are covered by the Turkish Catastrophe Insurance Pool (TCIP) within the insured amount.
Features and Advantages
- Mandatory Earthquake Insurance applies to the following buildings:
- The dwellings constructed on real property, which is registered with the Land Registry Office and subject to private ownership,
- Independent units which are situated within these buildings and used as workplaces, offices or for similar purposes,
- The dwellings either constructed by the State due to natural disasters or built with the credit provided by the government,
- Independent units within the scope of ownership defined under Apartment Law No. 634.
* As an agency of Gulf Sigorta A.Ş., Mandatory Earthquake Insurance offered by HSBC Bank A.Ş. to our customers residing in Turkey is made in the name and account of the Turkish Catastrophe Insurance Pool (TCIP).