What is earthquake insurance in Turkey and is purpose? When the Marmara earthquake happened in 1999, Turkey has mandated earthquake insurance to all owners of Real estate in Turkey, as Turkey is considered one of the most countries prone to earthquakes therefore the Turkish government has issued a set of decisions related to doing any buy or sell transaction for real estate in Turkey, also, when activating the electricity and water subscriptions, and the Turkish government ensures that any dangerous structures are demolished and replaced according to current standards.
- What is the Mandatory Earthquake Insurance in Turkey?
It is an insurance issued by the Turkish government against earthquakes after the destructive Marmara earthquake which happened on 17th August 1999, after this earthquake, the cabinet issued a law on 25th November 1999 based on law number 4452 after days of the earthquake, this mandatory earthquake insurance is related to the owner of the title deed whether they are a Turkish citizen or a foreigner.
- What is DASK Earthquake Insurance?/strong>
DASK is the insurance organization against natural disasters that happens in Turkey, established by the Turkish government 2012 to be the one who pays insurance against earthquakes in Turkey, this organization is run by the Ministry of Finance.
- Why We Should Pay Earthquake Insurance when Purchasing a Property in Turkey?
It is important to have the DASK insurance to activate the water, gas, and electricity subscriptions, as you’re not allowed to do that unless you pay the insurance fees against earthquakes for the first time, the owner or the tenant then can apply to activate these subscriptions after providing a copy of the earthquake insurance document, these insurance fees can be paid at any bank or insurance company in Turkey.
- What is the Purpose of Earthquake Insurance in Turkey?
- Making all houses in Turkey earthquake resistant.
- Facilitating building strong structures that can resist earthquakes in Turkey.
- Increasing the awareness of the public to this insurance.
- Verifying the safety of the building and its resistance to earthquake which decrease the risks that is resulted after the earthquake.
- Participating in the finance expenses with the Turkish citizen in case an earthquake hits and help with the damages afterwards.
- Property owners will get discounted fees and help from the government in case such a disaster hits in Turkey.
- What Does DASK Insurance Cover in Turkey?
In case of an earthquake in one of the Turkish states, and the building is totally demolished, then the insurance company DASK is obligated to cover these expenses:
- Building essentials.
- Basic walls.
- Ceilings and floors.
- Separating walls between rooms.
- Passages and surfaces.
- Elevators and stairs.
- Garden walls.
- Complementary sections of the upper parts.
- What are the Things Not Covered by The Insurance Company DASK? DASK؟
- Rubble removal expenses.
- Business downtime losses.
- Alternative residence expenses.
- Casualties and deaths (physical losses).
- Psychological damage.
- Furniture or merchandise losses.
- Problems in existing buildings before the earthquake.
- Required Documents to Obtain The Earthquake Insurance in Turkey::
- Title deed (Title Deed)
- ID of the property owner or a Passport
- Phone number of the property owner.
- Residence address of the owner.
- Type of the property and build year.
- Size of property in detail.
- Tax number
