The expert answered: What will happen to the damaged vehicles in the earthquake zone?
The earthquake disaster that deeply saddened Turkey has caused loss of thousands of lives. Buildings are not the only ones among the material losses. Many vehicles remained under the buildings became unusable. Assoc. Prof. Dr. Hakan Özcan stated that the compulsory traffic insurance does not cover the damage to the vehicles after the earthquake; and he said that the damage will be covered by automobile insurance policies which cover the earthquake damage.
After the earthquake disaster, which deeply affected our country and has caused loss of thousands of lives, Turkey is trying to heal its wounds. Besides the destroyed buildings, many vehicles remained under the buildings became unusable. Stating that in 11 provinces severely damaged by the earthquake, approximately 50 percent of the total 3 million motor vehicles were automobiles, Assoc. Prof. Dr. Hakan Özcan from Istanbul Gelisim University (IGU) Faculty of Applied Sciences (UBF) Banking and Insurance Department said that it is estimated that one third of these vehicles were damaged in various ways.
“If automobile insurance policies cover the earthquake damage, then the damage must be paid”
In everyone's mind, there is the question "what will happen to these vehicles?" It is said that the exact numbers of how many of these vehicles were damaged or severely damaged by the earthquake will become clear in the coming days. Stating that the damage costs of those with automobile insurance will be paid quickly by the insurance companies, Assoc. Prof. Dr. Hakan Özcan said, “There is a misconception among car owners. They think that the compulsory traffic insurance covers the damages to the vehicles after the earthquake. However, these damages will be met from motor insurance policies. If the insurance policies cover the earthquake damage, the damage must be paid. If there is partial damage to the vehicle, the repair costs are paid, and if the vehicle is heavily damaged, the fair value is paid after the legal deductions.” Özcan said that if the owner of the vehicle died, the payments will be made to his/her heirs.
“It is seen that undamaged or damaged vehicles are put up for sale due to the need for resources.”
Due to the extraordinary situation resulted from the earthquake in the region, it is thought that fair market value will be paid by applying the total loss procedure in motor insurance damages, excluding partial damages. Assoc. Prof. Dr. Özcan said, “Diminished value claims for damaged vehicles are cases where the amount of damage caused by the faulty party to the faultless party is paid in reciprocal accidents and is covered by the traffic insurance policy. No diminished value payment will be made in this case as s/he is not faulty. It is seen that undamaged or damaged vehicles are put up for sale by many of our citizens who survived the earthquake, due to the need for resources.”