Turkey Real Estate Mandatory Earthquake Insurance 2021 Tariff Is Published In Turkish Official Gazette
MAXIMUM COLLATERAL AMOUNT IN COMPULSORY EARTHQUAKE INSURANCE INCREASED BY 28 THOUSAND TL IN 2021
As part of mandatory Turkey houses and apartments earthquake insurance, the maximum amount of coverage that can be provided without separating the building style for a residence was increased by 28 thousand TL and covers upto to 268 thousand as demolished house return payment.
- As part of mandatory earthquake insurance, the maximum amount of collateral that can be provided without separating the building style for a residence was increased from 240 thousand rubles to 268 thousand rubles.
- According to the communiqué published in today's issue of the Official Gazette and amending the mandatory earthquake insurance tariff and instruction communiqué, the square meter prices based on determining the insurance price were increased from TL 1,134 to TL 1,268 for reinforced concrete structures and from TL 782 to TL 874 for other structures.
10 PERCENT DISCOUNT
- December 1 January - December 31, 2021 for Turkish home insurance contracts between the start date of the guarantee, according to the temporary articles added to the communiqué, the tariff price of 10% discount on the application of the provision was made.
- Insurance contracts concluded before the date of publication of the notification and the guarantee start date is January 1 and after, will be subject to newly determined guarantees without any action on the premium.
- In accordance with the amendment to the executive articles of the communiqué, the provisions of the communiqué will be carried out by the insurance and private pension regulation and supervision board instead of the Turkish Ministry of Treasury and Finance.