Housing related insurance compulsory earthquake insurance, earthquake provides coverage against damage that could be caused. Earthquake insurance is mandatory natural disaster insurance and service offered by the institution. Insurance companies and agents that are authorized by the institution through the development of the policy is provided.
Compulsory earthquake insurance policy
The validity of the compulsory earthquake insurance and the time involved in the contract before the end of the period is 1 year for the renewal of the policy is mandatory. Earthquake insurance is steel with a reinforced concrete frame, brick masonry structures such as masonry and wood and is secured to excluding these groups.
What is the punishment for compulsory earthquake insurance to get?
Mandatory earthquake insurance, although they are not applied any criminal process in the event of failure the owners of the property, the purchase and sale of dwellings are not available, earthquake insurance, water, electricity and natural gas infrastructure facilities such as subscriptions operations cannot be performed. It is imperative that the subscription be done to obtain earthquake insurance.
Compulsory earthquake insurance general conditions
Disaster insurance according to the law, the compulsory earthquake insurance can be done in the following buildings.
- Record the deed, and to own private property built as a residence on immovable property and buildings
- The Condominium Act which are included in independent sections and buildings located in other sections of our vineyard that are used for commercial purposes
- Made by the state as a result of natural disasters or houses made with a loan from the state
In addition, the easement provides that the above conditions are established buildings, the deed and land registry have not yet been delivered in the last plot also houses cooperative buildings, earthquake insurance can be done.