The tariffs and guidelines for the Optional Earthquake and Volcanic Eruption Insurance, which will take effect from January 1, 2025, have been established. This insurance can be added to existing types of insurance, such as fire insurance, and outlines the scope and conditions of the coverage. The earthquake and volcanic eruption insurance also includes coverage for loss of income resulting from the halt of commercial activities due to damage. Insurance coverage limits, deductibles, and premium calculations will be updated annually based on data provided by the Turkish Statistical Institute. Additionally, risks associated with properties located abroad are exempt from these regulations.
