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Quick Sigorta will provide the biggest guarantee for home buyers and investors with
its Building Completion Insurance

Quick Sigorta has nies will gain advantage in their sales by getting coverage for
launched Quick- their buildings without reducing bank loan limits,” he added.
Bina Tamamlama
Sigortası (Building Stating that Quick Sigorta kept working for the national
Completion Insur- economy, Ahmet Yaşar underlined that Building Completion
ance), a product Insurance, which provides coverage for home buying consum-
which has a critical ers and landowners within the scope of urban transformation
role in preventing projects, and construction companies, was launched in Turkey
the aggrievements by Quick Sigorta as an expert in financial insurance products.
due to incomplete He added that they began to receive serious number of de-
buildings and pro- mands immediately after launching the product. Saying that
viding coverage for Quick Sigorta was ready for transactions related to building
the payments of completion insurance and other products with 2500 agents in
consumers and new 81 cities and 600 provinces, Ahmet Yaşar invited interested
non-cash funds for parties to visit www.quicksigorta.com/bina-tamamlama for
Turkish economy. detailed information and application process.

Ahmet Yaşar, General Manager of Quick Sigorta, announced Vital product for protecting investors
that they completed the preparation works for Building Com-
pletion Insurance and started issuing policies. “Building Stating that real estate is one of the most important asset
Completion Insurance entered the agenda of our market with classes for investors in Turkey, Yaşar said Turkish investors
the aim of preventing the potential aggrievements to be in- regarded especially new housing projects as investment tools.
curred by people wishing to become homeowners, and first “New home sales can be considered among the riskiest invest-
became a part of our legislation as of 28 ma 2014 after be- ments. But investors may prefer these types of investments to
ing published in the Official Gazette on 28 November 2013 increase their expectations of return on investment. Some-
as a part of the Law on Consumer Protection no. 6502. The times, individual investors do not understand the risk they are
insurance is bought during Prepaid Home Sales and Prepaid taking and adjust their return expectations accordingly. In
Timeshare Sales. On 11 March 2015, Undersecretariat of that respect, QuickBina Tamamlama Sigortası will become a
Treasury published the General Terms for Building Comple- vital product both in terms of designing projects with accu-
tion Insurance, which was the first legislative arrangement rate risk levels and protecting individual investors when/if the
for the insurance business. risks are realized.”
On 10 December 2018 and 21 June 2019, when the insurers Quick Sigorta’s priority is to ensure that buildings are
had not paid enough attention to the topic yet, new laws and completed
regulations were published on the Official Gazette, building
contractors became obliged to either buy building completion Within the scope of building completion insurance, insurance
insurance or comply with other safeguards and conditions de- companies repay the consumers’ with legal interest or they
termined by the Ministry in order to get the license for their complete the buildings themselves and deliver the houses to
buildings for projects to be conducted at risky areas and par- consumers,” said Ahmet Yaşar. Underlining that Quick Sig-
cels that house risky buildings that fall under the scope of orta’s first priority was to complete the buildings in order
Law no. 6306 on Transformation of Areas under Disaster to ensure that homebuyers or investors reach their ultimate
Risk,” he said. goals, Ahmet Yaşar added as follows: “We will closely moni-
tor the business plans, finance models, and risks of new hous-
Ahmet Yaşar reminded that with the regulation dated 2 Sep- ing projects and help construction companies manage them
tember 2019 that amended the implementing regulation of effectively. If the risks are realized and aggrieve the consum-
Law no 6306, contractors became obliged to give commit- ers and investors, we will directly get involved in the project
ments on stated conditions to get their building licenses, but and ensure that the projects are completed, preventing small
were exempted from this obligation incase of buying building investors from incurring losses. In that sense, our product will
completion insurance. “Thus, building completion insurance ensure the financial security of small and individual investors
became a warranty requested and accepted by regulators for and even qualified investors; thus, playing a vital role in im-
both prepaid home sales and urban transformation projects. proving the investment climate.”
As a result, this insurance product started providing coverage
for beneficiaries who are trying to own houses against the “We will support Anatolia”
risks of uninitiated and incomplete constructions or projects.
Now, thanks to the assurance provided by Quick Sigorta, Saying that everyone including consumers, investors, con-
home buyers will own a roof over their heads without worry- structors, business developers win thanks to Quick Sigorta,
ing whether their homes will be delivered by contracts or not, expert of financial insurance products, Ahmet Yaşar under-
investors will protect their savings, and construction compa-
lined that eventually Turkish Economy was the real winner.