What is Insurance? What are the types?

 Contracts in which all kinds of negative situations that may occur in the future are guaranteed as a result of regular and certain premium payment are called insurance. Risks are covered by insurance companies and they are obliged to protect the insured financially in case of possible problems that the policyholder may experience. Thanks to insurance, financial losses that occur in unexpected situations are largely protected and provide an advantage for the insured.

What is Insurance? What are the types?

Insurances are framed by written agreements called policies. The limits and rates of each policy are created depending on the person's demands and needs and are personalized. Everyone can choose an insurance premium that suits their budget and secure themselves financially against possible mishaps.

It is possible to summarize the question of what insurance means or what is insurance as follows; It is an assurance that a person creates to cover his/her risks by paying a certain amount of money to the insurance company. Insurance is one of the biggest investments a person can make for himself because the place and time of accidents, illnesses, misfortunes and disasters are never certain. 

What is Insurance Used for?

Insurance is a contract that ensures that financial losses are covered within the limits and rates specified in the policy. In this way, the person does not only have to think about the budget part due to the sudden situation he is experiencing. This could be a health problem, a disaster or an accident; Insurance is a power that can guarantee not just a single area but almost every aspect of life.

Not everything that happens to you may be caused solely by you; You can protect yourself with insurance against accidents and situations that occur independently of you. We can compare insurance to a protection shield; as you progress through life, insurance moves in parallel with you and protects you against financial difficulties that may arise.

What are the Insurance Types?

With insurance, you protect not only your health but also your home, valuables, car and real estate. It is possible to talk about different types of insurance for each product. While some types of insurance are optional, some include compulsory insurance types. In addition to the existing policy conditions, there are additional coverages for those who want to benefit from different opportunities, so the person can meet their demands by paying additional premiums. It is possible to list some of the insurance types as follows.

Supplementary Health Insurance

Supplementary Health Insurance is a type of insurance that allows people with SSI to receive treatment and covers the remaining difference from SSI in private hospitals. It is only valid in private hospitals that have agreements with SSI. Within the scope of Supplementary Health Insurance, inpatient and outpatient treatment coverage is provided. If requested, it is possible to benefit from many more health services with additional coverage added to the insurance policy.

Private health insurance

Private health insurance is a type of insurance that covers health expenses that may occur due to illness or accident "on an individual basis". With Private Health Insurance, many treatment opportunities are provided in contracted private hospitals. Within the scope of these health services, examinations, analysis, tests and, if necessary, surgical interventions are covered. Thanks to Private Health Insurance, health expenses are covered within the limits and rates specified in the policy, without any extra payment. 

Travel health insurance

Travel Health Insurance is a type of insurance that insures domestic and international travelers against health-related risks. It comes into play if the traveling insured has an accident or gets sick during the travel period and covers the person's treatment expenses within the limits and rates specified in the policy. Anyone between the ages of 0-80 can benefit from Schengen health insurance. In addition, everyone between the ages of 0-75 can benefit from Worldwide Travel Insurance.

Pet Insurance

Pet insurance is a type of insurance that covers the expenses of examination, analysis, examination and inpatient treatment of your cat or dog, in addition to their emergency treatment. With pet insurance, you can insure your pet friend's treatment expenses within the limits and rates specified in the policy. It is possible to create insurance coverage according to your needs and budget. In addition, within the scope of additional coverage, procedures such as nail care, ear and eye cleaning may also be covered by insurance.

Compulsory traffic insurance

Traffic insurance is a type of insurance that all vehicle owners are legally required to have. Possible losses and damages that may occur in traffic are covered by the insurance within the limits and rates specified in the policy. Damages that may occur to the other party's vehicle or third parties are also covered within certain limits. 

Life insurance

It is possible to call life insurance a premium pool. The payments made are collected in the form of a fund under the umbrella of the insurance company and kept in the transaction so that its value increases. Within the scope of life insurance; Provides financial support in case of death, disability or injury. 

Types of life insurance are as follows:

  1. Mixed Life Insurance
  2. Accumulative Life Insurance
  3. Annual life Insurance
  4. Long Term Life Insurance
  5. Group Life Insurance
  6. Credit Life Insurance
  7. Education Insurance

DASK Compulsory Earthquake Insurance

With DASK Compulsory Earthquake Insurance, earthquakes and situations that occur after the earthquake are secured. Possible damages caused by earthquakes are covered within the limits and rates specified in the policy, and material damages caused by the earthquake are covered by DASK. 

Personal Accident Insurance

It is a type of insurance that provides financial assurance against sudden and unexpected accidents. In case of death or disability as a result of an accident, payment is made to the insured within the limits and rates specified in the policy. With personal accident insurance, material damages that may occur due to an accident are covered.

Foreign Health Insurance

It is a type of insurance that secures possible health risks for foreigners who want to obtain a residence permit in Turkey. Foreign health insurance is one of the mandatory types of insurance. Within the scope of foreign health insurance; Surgery, internal hospitalization, intensive care, radiotherapy, chemotherapy, dialysis, artificial limb, medical equipment, room-companion fees, and post-hospitalization physical therapy expenses are covered.

Home (Content) Insurance

It is a type of insurance that protects the house and the items inside the house from possible financial risks. Landlords or tenants; You can get home insurance against situations such as fire, theft, flood, earthquake, storm, natural disaster and insure your belongings against material damage. It is possible to expand the scope of insurance by adding additional coverage to the main coverage of home insurance . For example, you can get financial coverage for your belongings by paying an additional premium to your home insurance premium. In this way, with home insurance, you protect not only your home but also your belongings.

What is Compulsory Insurance?

Compulsory insurance is a type of insurance that protects both the insured and third parties against risks such as all kinds of accidents, natural disasters or health problems. With compulsory insurance, not only the insured is protected, but also deep security measures are taken in terms of public safety. Compulsory insurance is inspected by public institutions and is mandatory. If compulsory insurance is not provided, a penalty clause will be imposed.

What are the Compulsory Insurance Types?

Some of the compulsory insurance types that provide financial assurance to both the insured and third parties against loss of property and life are as follows:

  • Traffic insurance
  • Compulsory Personal Accident Insurance for Mine Workers
  • Compulsory Liability Insurance for Medical Malpractice
  • Compulsory Financial Liability Insurance Regarding Coastal Facilities Implementation
  • Cylinder Gas Compulsory Liability Insurance
  • Road Passenger Transportation Compulsory Seat Personal Accident Insurance
  • Marine Vehicles Compulsory Liability Insurance
  • Compulsory Certificate Liability Insurance
  • Hazardous Substances and Hazardous Waste Compulsory Liability Insurance
  • Compulsory Certificate Liability Insurance
  • DASK Compulsory Earthquake Insurance
  • Compulsory Package Tour Insurance

What is Optional Insurance?

When people become insured by paying optional premiums, it is called optional insurance. Except for the compulsory insurance products mentioned above; Products such as complementary health insurance, private health insurance, home insurance and life insurance are optional insurance types. 

How to Get Insurance, Where Should It Be Made?

You can evaluate the offers you receive from insurance companies and become insured with a payment that suits your budget. Whichever insurance branch you are requesting, you can get information about insurance coverage through insurance companies. 

What are the companies that provide insurance?

There are many insurance companies operating in the field of insurance in Turkey. A few of them are as follows:

  1. Allianz Insurance
  2. Anadolu Sigorta
  3. Aksigorta
  4. Ankara Insurance
  5. Axa Insurance
  6. Aveon Global Insurance
  7. BUPA Acıbadem Insurance
  8. Bereket Insurance
  9. CHUBB European Group SE
  10. Corpus Insurance
  11. Demir Health Insurance
  12. Nature Insurance
  13. Eureko Insurance
  14. Groupama Insurance
  15. Generali Insurance
  16. Gulf Insurance
  17. Hepiyi Insurance
  18. HDI Insurance
  19. Protect Insurance
  20. Mapfre Insurance
  21. Magdeburger Insurance
  22. Neova Insurance
  23. Orient Insurance
  24. Quick Insurance
  25. Ray Insurance
  26. Sompo Insurance
  27. Türkiye Insurance
  28. Turkish Nippon Insurance
  29. Unico Insurance
  30. Zurich Insurance

We would like to underline that, we are the authorized agency of all the insurance companies listed above. You can choose the insurance company you want and get support from our insurance consultants.

What are the benefits of having insurance?

The advantages of insurance are many. It allows you to financially secure not only your health problems but also your losses arising from accidents, damage, natural disasters and many other situations. Let's list some of the benefits of insurance below.

It protects your budget against possible or sudden situations and ensures that damages are eliminated.

It allows you to financially secure not only your health but also your home, car, belongings and immovable property.

It allows you to insure possible risks and health expenses related to your health with different policy coverages, so you do not have to think about the financial aspect of the matter. You can protect your property with policies you take out depending on your needs and demands.

You insure all risks that are likely to cause financial losses in the future, thus preventing financial losses before the risk occurs.

Who Should Get Insurance?

Everyone over the age of 18 has the right to get insurance. Insurance helps to take precautions "in advance" against possible risks, so everyone should benefit from an insurance policy that suits their budget, if possible.

Life insurance, such as health insurance , is one of the types of insurance that everyone should have as a priority. Some insurance is mandatory and protected by law. Some are optional. In any case, the type of insurance can be selected in line with the demands and possible risks can be financially secured.

Professional liability insurance is especially important and can be vital for people working in these professions. For example, with Professional Liability Insurance for Medical Malpractice, a physician protects himself against financial damages that may occur during his professional activities. A similar situation applies to a lawyer.

With Lawyer Professional Liability Insurance, compensation rights that may occur as a result of an error or negligence during professional activities are covered within the limits and rates specified in the insurance.

In summary, everyone can financially secure possible risks with an insurance type that suits their preference, but professional liability insurance is especially of key importance.

What is Insurance Premium?

The insurance amount that a person pays within certain rates against possible problems is called insurance premium. The insured is obliged to pay the amount due under the contract to the insurance company every month. 

One of the most frequently asked questions about insurance premiums is "How much is the 30-day insurance premium?" is a question, but there is no clear answer to this. Monthly payments of the insurance premium will vary depending on the type of insurance you choose and the additional coverage you request, so the insurance premium is created "personally" and the amount of premium paid by everyone is different.

What is an Insurance Policy?

It is a document expressing the agreement between the insured and the insurance company. The legal obligations that must be met in the policy are specific for both parties. After the first insurance premium is paid, the illness or damage expenses covered by the insurance are covered by the insurance. Some of the details included in the policy are as follows:

  • Information about the insured and the insurer
  • Insurance General Conditions
  • Insurance Special Conditions
  • Details regarding insurance
  • Coverage
  • Insurance price
  • Term of the policy
  • Policy premium amount
  • Policy issuance date
  • Debts and obligations of the parties
  • Information on relevant legal procedures

How to Inquire about Insurance?

There is more than one way to inquire about insurance. One of the easiest ways to do this is through inquiries made via e-Government. After logging into the system with your e-government password, type "Insurance Inquiry" in the search button, all details about your insurance will be displayed on the screen.

Another method of inquiry is the insurance company. You can contact whichever insurance company you have agreed with and access detailed information about your insurance policy.

If you purchased your insurance policy from izlecisaglik.com, you can contact us directly and get insurance support from our insurance consultants.

How Are Insurance Rates Determined?

Once you have decided on the type of policy you want or that suits your needs, you can move on to choosing the policy premium that best suits you. At this point, your insurance premium will be clarified in line with your demands, needs and additional coverage. Determining the amount of premium offered by the insurance company depends on some criteria. Each type of insurance has different premium payments and these vary depending on the type of insurance.

For example, if you want to get private health insurance or complementary health insurance, a risk analysis must be made regarding your health condition. A similar situation also applies to car insurance; After examining the vehicle you want to insure, the insurance premium will become clear. In other words, “How much is the insurance money?” The answer to the question and insurance prices will be determined depending on the desired insurance type and a personalized policy will be created.

What are Insurance Companies?

Many insurance companies operate in Turkey. Some of the insurance companies actively operating in Turkey are as follows;

  1. Allianz Insurance
  2. Anadolu Sigorta
  3. Axa Insurance
  4. Demir Hayat Sigorta
  5. Nature Insurance
  6. Eureko Insurance
  7. Groupama Insurance
  8. Mapfre Insurance
  9. NN Life Insurance
  10. Ray Insurance
  11. Sompo Insurance
  12. Turkish Nippon Insurance
  13. Türkiye Insurance

You can click here to get detailed information about insurance companies.

What Should You Pay Attention to When Getting Insurance?

Let's continue with a few simple but effective answers to the question of what I should pay attention to when getting insurance. Some of the things to consider when getting insurance are as follows:

Scope of the Policy:

 You should carefully read the offer document, which contains information such as your policy's limits, rates, which situations are excluded and which are covered. You should remember that the details are hidden between the lines.

Policy Waiting Periods:

 Policies have waiting periods for some diseases. The policy is not active during this period and its validity begins after this period. We recommend that you review the waiting periods in your policy in detail.

Policy Premiums:

 Each type of policy has its own premium system. How much premium you will pay each month is clearly determined within the scope of the policy. Be sure to thoroughly research whether these premiums are suitable for you and the payment terms.

Policy Coverages:

 Policies provide some additional coverage in addition to their main coverage. Additional coverage varies depending on the insurance branch of your policy. Therefore, in order to benefit from your policy with 100% performance, you should carefully examine the coverage offered to you in your policy.

Insurance Company Reachability: 

 In case of sudden developments, there should always be a contact person for your insurance company. For this reason, it is important that the insurance company you choose to get insurance is available 24/7 and under all circumstances, because the place and time of the accident are unknown. Be sure to take a look at the relevant references of the insurance company and make sure that the service they provide is professional.

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