Surprise is defined as the fee demanded by insurance companies in addition to the premium fee. In some cases, insurance companies may add to the amount at the start of the insurance. This comes as a surprise to us.
Surprise Has Been Applied What Does It Mean?
This expression means that an additional payment is requested for the said insurance product, on top of the originally agreed amount.
How is the Surprise Applied in Which Situations?
After answering the question of what is a surcharge, it is time to explain in which situations the surcharge can be applied.
There are two main reasons for the surcharge: First, the policy is not renewed on time. Policies such as TCIP and compulsory traffic insurance, which are mandated by the state, should continue. In order to ensure this continuity, it is necessary to renew the policies on time. If these policies are not renewed even though their time has passed, the insurance company activates these policies by adding a surcharge fee so that the service is not interrupted. Some insurance companies may also apply surcharges for different policies.
The second reason for the surcharge is that some coverages that were not included in the policy at the start of the policy were added to the policy over time. Insurance policies are documents that indicate against which risks the insured can receive payment. Expanding the scope of these policies and adding new coverages cause additional costs, so they are reflected in the premium amount. This is explained to the insured as a surcharge.
Surcharge Percentage Due to Delay
The difference that arises due to the failure to renew the insurance policies on time is called the delay surcharge. The rate of this surcharge differs according to the insurance product.
What is the Surcharge Rate?
The surcharge rate is used to determine the amount that will be reflected in an insured's policy. This rate differs for each insurance product. For some types of insurance, the ceiling surcharge rate is determined by the state, while other insurance products are determined entirely by the decisions of the insurance company.
We have listed for you how the surcharge rates are determined in 5 steps for the most common insurance types.
What is the Compulsory Traffic Insurance Surcharge Rate?
Traffic insurance is a type of insurance that is required by the state for every vehicle on the road and is made to cover the damage caused to the other party. It is possible to secure greater risks by expanding the scope and coverage of this insurance. The compulsory traffic insurance surcharge rate, which should not be disrupted as long as the vehicle is in traffic, can be applied as 5% for each month and maximum 50% in total.
What is the Life Insurance Surcharge Rate?
The question of what is the surcharge in health is among the most frequently asked questions by insurers. Surcharge calculations are made by examining all risks for life insurance, which is an insurance that is taken out by individuals to prevent their relatives from being in a difficult situation in case of sudden death. In these calculations, the age and medical history of the insured are of great importance. In this type of insurance, which does not give any ceiling restrictions by the state, the calculation is made exclusively for the person in question.
What is the Supplementary Health Insurance Surcharge Rate?
Complementary health insurance is the name of the insurance that covers treatments in different health centers and in different situations, as well as the guarantees given by the Social Security Institution. Since the surcharge rate of the supplementary health insurance is calculated on the basis of the insured's medical history, a personalized policy is created.
What is the TCIP Surcharge Rate?
Although the Natural Catastrophe Insurance Pool (DASK) is mostly known as earthquake insurance today, it covers the damages arising from disasters such as tsunami, fire, explosion that may occur due to earthquakes. Even if the building is partially damaged or demolished, it is under the guarantee of TCIP. While determining the TCIP surcharge rates, the age of the building where the mentioned residence is located and the number of floors are taken into consideration.
What is the Insurance Surcharge Rate?
We mentioned above that traffic insurance covers the damages of the other party in the event of an accident. Car insurance is a type of insurance that covers damages to one's own vehicle in the event of an accident. The surcharge of the insurance is determined according to the damage history of the vehicle. If the vehicle has not been damaged for a certain period of time, this is reflected to the insured as a no-claims discount.
How to Calculate Surprise?
Unfortunately, there is no universal formula for surcharge calculations. Surcharges vary according to insurance types, as well as different rates depending on the person. In the surcharges of complementary health and life insurances, a calculation is made by examining the medical history of the insured in detail, including the age of the insured and the diseases to which he is genetically predisposed.
When it comes to TCIP, which is a compulsory insurance type, many parameters such as the value of the house, its location and age come into play. For this reason, you can make the most accurate calculations by contacting insurance agencies and relevant institutions.
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