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Important information about earthquake insurance in Turkey

Earthquake insurance in Turkey


Earthquake insurance in Turkey One of the important and necessary matters, as Turkey is located on the earthquake line, and therefore it witnesses from time to time earthquakes ranging in strength from light, medium to very strong, and causing material damage that the population cannot bear, and rebuilding what was destroyed.

It is considered a general earthquake 1999 One of the strongest earthquakes I've ever seen Istanbul cityIt measured 7.6 degrees on the Richter scale, and left behind massive property damage, in addition to many deaths.

This earthquake was a landmark in Turkey, where it issued Turkish government After that, a decision was made Natural disaster insurance companies DASKAll construction companies are required to be real estate andResidential complexes conforming to international standards in order to mitigate earthquake damage in the event of their occurrence, as imposed on local and foreign investors wishing to Buying real estate in Turkeyobtaining a document Earthquake insurance in TurkeyIn order to compensate them financially, reduce their burdens, and ensure that they rebuild demolished real estate.

If you are interested to know all the details about Earthquake insurance in Turkey, you wish to Buying a property in Turkey, especially Buying a property in IstanbulYou have arrived at your destination, we are at Hakeem Real Estate Company We will inform you of all its details.


 Earthquake insurance policy in Turkey

This document was adopted after 1999, after the great earthquake in Istanbul, destroying buildings and killing thousands of people.

where it is considered document Earthquake insurance  Among the documents necessary for the procedures for buying and selling real estate in Turkey, it is provided by the Turkish Insurance Corporation against Natural Disasters DASK To guarantee local and foreign investors their material and moral rights, and the property owner pays them annually, and if the property is rented, the tenant has nothing to do with paying Earthquake insurance , regardless of the length of his lease of the property.

Earthquake insurance in Turkey


 The goal of earthquake insurance in Turkey

Turkish government aims to close Earthquake insurance to several things, namely:

  1.  Compensating people financially affected by natural disasters (fires, earthquakes, hurricanes)
  2.  Ensure that real estate and apartments comply with the standards imposed by the Turkish government in order to avoid the risk of earthquakes in Turkey
  3. Increasing the awareness of the construction companies, and forcing them to build safe housing complexes that are resistant to earthquakes, in order to avoid the greatest amount of damage.



 Matters covered by earthquake insurance in Turkey

When an earthquake or any natural disaster occurs in any Turkish state, and the property is demolished, the DASK insurance company will cover the following:

  • The expenses of the foundations and bases of the property
  • Expenses of the main walls, and the articulated walls between the rooms
  • Ceilings and floors expenses
  • Repair of stairs, elevators, corridors and surfaces
  • Real estate gardening expenses.



 Matters not covered by the earthquake insurance policy in Turkey

On the other hand, there are some things that are not covered in the document Earthquake insurance in Turkey, Which:

  • debris removal costs
  • Alternative accommodation costs
  • Losses of furniture and furnishings located in the real estate, and even goods while the real estate was designated for work.



 Buildings included and not covered by earthquake insurance in Turkey

Insurance included earthquakes  The following buildings:

  •  Residential apartments
  • Commercial real estate offices and shops
  • Real estate under construction


While that Earthquake insurance  Does not include the following:

  •  Independent buildings subject to the Public Housing Law
  • Buildings used as public service buildings
  • Real estate built in rural areas
  • Real estate constructed without an engineering plan
  • Real estate built with irregularities
  • Properties slated for demolition by licensed Turkish government institutions
  • Abandoned and neglected properties that are not habitable.


 Earthquake insurance extraction mechanism in Turkey

Several papers are required in order to obtain a document Earthquake insurance , Which:

  •  A copy of the title deed (Tapu)
  • A copy of the passport of the investor who owns the property
  • The real estate appraisal sheet showing the area and details of the property
  • The nomartage sheet showing the full address of the property and the floor it is located on

Where these papers are handed over to one of the DASK natural disaster insurance companies accredited in Turkey, then the property owner will obtain a document Earthquake insurance .

Earthquake insurance in Turkey


 Is the earthquake insurance policy in Turkey mandatory?

Yes, especially in the transactions of buying and selling real estate in Turkey, as these transactions are not carried out without a document Earthquake insurance.


 What is the benefit of the earthquake insurance policy in Turkey?

According to Turkish law, in the event of an earthquake or natural disasters, and the destruction of real estate, the Turkish government will house all those affected, compensate them financially and morally, conduct a quick survey of the damaged buildings, and the possibility of rebuilding, then building new complexes.


 What is the value of an earthquake insurance policy in Turkey?

Document value varies Earthquake insurance  Depending on the size and age of the building and its location, but its value is simple, as it does not exceed 50 US dollars.


 When does the Turkish government pay earthquake insurance benefits?

Natural disaster insurance institutions shall pay their dues to those affected after the completion of the property damage assessment, within a period not exceeding 30 days.


 Does the Turkish government compensate foreign victims of earthquakes or natural disasters?

Yes, there is no difference between Turks and foreign residents as long as both have a document Earthquake insurance  They will be compensated financially, and the damaged properties will be rebuilt.


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Release : Hakeem Real Estate© | Real estate expert in Turkey 

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