When You found your dream home in Turkey and purchased it. All difficult processes are left behind, and you are the owner of the title deeds of your property at this point, all you have to do is enjoy your selected property and a few simple steps to do. Anyone, who has a home in Turkey’s, obligation to make TCIP insurance. You cannot get any electricity, water, and natural gas subscriptions without TCIP (Natural Disaster Insurance Institution) which is mandatory earthquake insurance. TCIP secures your home against damages caused by disasters such as earthquake and earthquake fire, tsunami and landslide, and it will cover your loss in cash within the limits set in the policy.
Compulsory earthquake insurance (TCIP) is made annually and the insurance must be renewed before the end of the previous one on yearly basis. The annual average price is between 150-500 TL and it varies depending on factors such as the gross size of the property, location, history of the building, number of floors. It can be easily arranged at any bank or insurance company.
The documents you need to have with you to take TCIP insurance are as follows:
- Identity card or valid passport
- Tax identification number
- Phone number
- The full address of the property, the number of floors, the year of construction, etc. informations
Apart from TCIP, you may want to secure your home against fire, floods, storms, lightning strikes, theft, and electronics damage. In this case, there are many types of insurance contracts you can submit on demand. You can choose the insurance package which fits your property in Istanbul, and secure it against disasters, after insuring you will be able to go on holiday with peace of mind or to feel safe at home. Optional housing insurances vary according to the package selected, the value of the furniture in the house, the materials used in house construction, the m², and the declared value price of the house.
At Modern Homes Property, we will direct you according to your needs and guide you through your entire process. We are with you at every stage of the property purchase process with the professional services that we provide before and after-sales.
