In 2012, the Turkish government launched an ambitious plan to transform the country's infrastructure and promote seismic safety. One of the key components of this plan was the demolition of seismically unsafe buildings and their replacement with modern, earthquake-resistant structures. This plan aimed to ensure that all buildings in Turkey would be safe in the event of an earthquake, which is a common occurrence in the region.

To complement this effort, the Turkish government also made earthquake insurance mandatory for all buildings in Türkiye. The purpose of earthquake insurance is to ensure that all homes in the country are insured against earthquake damage, to reduce the financial burden on citizens in the event of an earthquake, and to establish a permanent emergency fund.

The earthquake insurance coverage in Türkiye includes various parts of the building, including foundations, walls, ceilings, floors, stairs, elevators, roofs, chimneys, and other complementary parts. The insurance covers damages resulting from an earthquake that may cause structural damage or result in the complete destruction of the building.

However, there are also some limitations to what earthquake insurance covers. For example, it does not cover debris removal costs, losses in profits, deactivation, disabled rent, home or alternate workplace expenses, or any financial responsibilities that homeowners may bear as a result of the damage. It also does not cover physical damage or deaths, moral damages, or damage caused by fire, tsunami, or landslides that are a result of the earthquake. Moreover, if the damage to the building is due to a malfunction or deficiency in the building rather than the earthquake, the insurance does not apply.

In addition, earthquake insurance in Türkiye does not apply to certain buildings. For instance, independent buildings and sections that are subject to Public Housing Law No. 2946 of 9/11/1983 or used as public service buildings, commercial or industrial buildings, buildings that do not have a project and have not received engineering services, and buildings that have been modified or weakened to negatively affect the general building system or the reconstruction plan are not covered. Buildings constructed in violation of regulations, buildings that have been decided to be demolished by relevant public institutions, and neglected, dilapidated, or abandoned buildings that are not suitable for residential use are also excluded from coverage.

Overall, the mandatory earthquake insurance in Türkiye is an essential component of the Turkish government's efforts to promote seismic safety and ensure that citizens are protected in the event of an earthquake. It provides coverage for damages to buildings resulting from an earthquake, reduces the financial burden on citizens, and establishes a permanent emergency fund for the country. However, it is important to note that there are limitations to what is covered by earthquake insurance and that not all buildings are eligible for coverage.

Edited by: Aldar Real Estate ©