DASK Insurance in Turkey is an earthquake insurance policy that covers householders in the event of an earthquake. Large earthquakes that cause significant damage in Turkey are rare, but the government established this policy after the 1999 Marmara earthquake. The DASK policy covers house owners for damages caused by earthquakes and any landslides, fires, or tsunamis that also cause damage as a result of them. When you buy a property in Turkey, everyone must get DASK insurance. Let’s look at what you need to know about how to get it, how much it costs, and exactly what it covers.
About DASK Insurance in Turkey
1. What Does DASK Insurance Cover and Not Cover?
In the event of an earthquake, DASK insurance covers the following structural elements:
- Main structural walls
- Garden walls
- Ceilings and floors
- Foundations
- Stairs
- Elevators
- Corridors
- Roofs
- Chimneys
DASK Insurance Does Not Cover:
- Loss of profit or rent for any business premises
- Debris removal
- Alternative residence or workplaces
- Moveable goods and furniture
- Injuries and death
- Damages resulting from other circumstances than the earthquake
2. How Much Does DASK Insurance Cost?
The cost of DASK insurance varies based on several factors:
- Geographical Zones: Turkey is divided into seven geographical zones, each with its premium rate depending on the earthquake risk. Istanbul, for instance, has the highest premium.
- Construction Type: Buildings are categorized based on whether they are constructed using reinforced concrete.
- Square Meterage: The cost is calculated based on the total square meterage of the residence.
Important Points to Note:
- DASK insurance does not cover all damages. You may need additional contents insurance for full coverage.
- The minimum payout aligns with construction costs, not house values. Currently, the maximum guarantee by DASK is 320,000 TL per residence. You may need to supplement this with private insurance to cover the total value of your property.
3. About the Earthquake Building Code in Turkey
While the requirement to buy earthquake insurance might seem alarming, it is a precautionary measure. Significant earthquakes are not everyday events in Turkey, and the country continually investigates seismic activity and updates construction regulations to ensure home safety.
Key Points:
- Modernization: Turkey has invested heavily in modernizing its real estate market, aiming to replace pre-2000 dwellings with updated homes featuring stronger foundations and supporting walls.
- ISMEP Project: Particularly in Istanbul, the ISMEP (Istanbul Seismic Risk Mitigation and Emergency Preparedness) project focuses on risk management, ensuring quick rehoming of citizens and resumption of business activities after an earthquake. This project emphasizes building safer structures and improving the overall earthquake resilience of the city.
If you are looking to buy property in Turkey, let Aegean Locations assist you. Our expertise in real estate and understanding of Turkish regulations ensure a smooth and informed buying experience. Contact Aegean Locations today to start your journey towards owning a well-protected home in Turkey