Earthquake insurance on Turkey real estate

الاقامة العقارية في تركيا

You may have heard about earthquake insurance on Turkish real estate, So when you think about buying a property, Whatever this property is, There are a number of steps, Which requires the preparation of several papers; It is necessary to adhere to and ensure its existence in order to complete the legal purchase of the property, And without any problems.

These things are which is one of the pillars, in owning real estate in Turkey, Or create it to obtain earthquake insurance on the property you intend to invest in.

Read also: Best Investment Fields for Foreigners in Turkey 2020

Earthquake insurance in Turkey

This insurance is considered necessary. It includes all real estate in Turkey, of its various types; Whether it is residential or commercial real estate for investment.

This insurance mainly covers all expenses related to repairing damages caused by earthquakes. Or natural disasters in those real estate.

This decision was made The necessity of making earthquake insurance on Turkish real estate, After the known Marmara earthquake in 1999.

The company “Natural Catastrophe Insurance” DASK, It is the company responsible for issuing earthquake insurance on real estate in Turkey. Which falls under the supervision of the Turkish Ministry of Finance.

Earthquake insurance is issued on the property at the beginning of the construction stage, It is for one time in order to obtain certain services, Which the owner can only obtain if he pays the value of earthquake insurance in Turkey.

Linked to this insurance a range of services such as: Water, electricity, gas, and internet services. and telephone services.

Earthquake insurance is paid on real estate in Turkey, by the person who owns the property, The tenant is not responsible for the payment of this insurance, But it is important for you as a tenant to check the insurance before signing the lease agreement.

The value of the real estate insurance is paid by the property owner on an annual basis. According to a certain date estimated by DASK.

Payment is made through banks. or insurance companies, or post office.

Real estate covered by earthquake insurance in Turkey

  • Real estate ready for habitation, which includes apartments, buildings, and villas in Turkey, It is essential that these properties have been registered in the Tapu Department in Turkey.
  • Commercial real estate that has been registered in the Tapu Department, Like offices.
  • Ancillary extensions for all floors which are subject to property law, for example, utility facilities, garage, and surfaces.
  • government buildings, In addition to public service buildings, which are given to the population in the period of earthquakes and disasters, by the Turkish government.
  • Buildings that meet all building requirements, and construction.
  • Buildings that have obtained a document called a real estate easement document, It is under construction; But it meets all construction requirements, real estate registry, and construction.


The importance of extracting earthquake insurance on Turkish real estate

It is necessary for the owner to apply for earthquake insurance on real estate in Turkey, For a number of reasons, Which:

  • Reducing the possibility of any damage to the property as a result of disasters or earthquakes, After making sure of the property’s resistance to earthquakes, While making sure of all safety issues related to the property.
  • Help repair any damage caused by earthquake or tremors, or environmental disasters.
  • Reducing repair costs for damaged properties and buildings, The owner of the property in Turkey, And that when such disasters occur.
  • reduce expenditures on the state; With regard to the re-establishment of its public institutions, and all public utilities, In the event of damage caused by natural disasters.


Things covered by earthquake insurance in Turkey

Earthquake insurance on Turkey real estate includes coverage for a range of aspects, Which:

  • Covering the expenses of building basics and rules.
  • Damage expenses in escalators and elevators.
  • skylights, hallways in the building, and entrances.
  • wall damage, with the bishop, and floors.
  • In addition to the rooftops and other facilities

As for the other resulting losses, such as any psychological losses, or physical, or human losses, As well as the expenses of moving to another place, In exchange for damaged furniture, All these losses are not covered by earthquake insurance in Turkey

The value of earthquake insurance on real estate in Turkey

The value of earthquake insurance depends on Turkey real estate, on the type of property, or construction, its structure, and its location.

But in any case, it does not exceed a maximum of 40 dollars annually for one apartment, This value is considered relatively low.

There are several other considerations to consider, such as the height of the building, And the number of the damaged floor in determining the amount of earthquake insurance on real estate.

These days, most, if not all, buildings are being designed. to be earthquake resistant, By resorting to the use of high-quality building materials, This is what makes the idea of owning a property in Turkey one of the great investment ideas, Which deserves you to give it some thought.

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