What is TCIP Insurance?

TCIP Insurance (Turkish Catastrophe Insurance Pool), known locally as DASK, is a compulsory insurance type that ensures buildings within the borders of Türkiye are secured against earthquakes and earthquake-related damages. The system, which came into effect after the 1999 Marmara Earthquake, aims to reduce financial losses following a disaster. This insurance type protects not only the building itself but also its core structural elements. Panacea Insurance prepares the most suitable TCIP policy based on the region where the residence is located and its structural characteristics.

How Does TCIP Insurance Work?

Compulsory earthquake insurance is a fundamental security system that homeowners must renew once a year. The policy covers destruction, cracking, or damage to walls and columns resulting from earthquake-related incidents. Premium amounts vary according to the building’s risk zone, construction style, and square footage. Panacea Insurance renews your policy in the most appropriate way in light of current data and allows you to track the process digitally.

1. The homeowner applies for a TCIP policy through Panacea Insurance.
2. Building information (address, construction type, floor area) is entered into the system.
3. The policy is instantly created and recorded in the TCIP system.
4. When damage occurs, Panacea Insurance manages the TCIP process on your behalf.

TCIP Insurance Coverages

TCIP Insurance covers direct physical damages caused by an earthquake. These coverages are valid for both reinforced concrete and masonry structures.

• Earthquake Damage: The main carrier system, columns, beams, walls, and floor damages.
• Fire: Damages arising from fires that break out after an earthquake.
• Explosion: Damages occurring as a result of explosions caused by the earthquake.
• Landslide: Destructions caused by ground movements occurring along with the earthquake.
• Debris Removal: Covering the removal costs of the structure destroyed after the earthquake.

Panacea Insurance offers additional coverage options by explaining risks that fall outside the TCIP scope in every policy.

Who Should Get It?

TCIP Insurance is mandatory for all residential property owners within the borders of Türkiye. It is a legal requirement to have this insurance for titled residences, apartment flats, villas, or independent sections used as workplaces. Additionally, a valid TCIP policy must be presented during utility subscription processes (water, electricity, and natural gas). Panacea Insurance provides collective policy advantages to both individual homeowners and apartment managements.

Advantages

TCIP Insurance offered by Panacea Insurance is not just a legal requirement but also a financial security shield. It helps individuals normalize their lives by reducing the financial burden during the post-earthquake reconstruction process.

• Covers a large portion of financial damages after an earthquake,
• Advantage of high coverage with low premiums,
• Valid policy for electricity, water, and natural gas subscriptions,
• Ease of online renewal through Panacea Insurance,
• Fast damage notification and TCIP coordination support.

Exclusions

As with every insurance policy, TCIP Insurance also contains certain exceptions. These situations arise because the insurance only protects the structural part of the building.

• Damage to items inside the house (furniture, electronics, etc.),
• Loss of rent or moving expenses,
• Land value loss after debris removal,
• Natural disasters other than earthquakes (flood, storm, etc.),
• Structures without a legal permit.

Legal Basis

TCIP Insurance is carried out in accordance with the general insurance principles determined by the Insurance and Private Pension Regulation and Supervision Agency (SEDDK) and the Insurance Association of Türkiye. Panacea Insurance issues policies in compliance with legal requirements by working in integration with the TCIP system.

Related Insurances

To fully secure your home beyond earthquakes, you can visit our Home Insurance and Building Completion Insurance pages. These products provide full protection by covering risks that fall outside of TCIP Insurance.

Your Home is Always Safe with Panacea Insurance

TCIP Insurance is not just a mandatory insurance but the most important investment made for the future. Panacea Insurance’s expert team manages the process on your behalf to ensure your financial security after an earthquake. Get a quote today and protect your home and loved ones against unexpected risks.