Property insurance in Turkey: how much it costs and who needs it
The purchase of real estate in Turkey by foreigners has recently become very popular. According to the official reports of the Turkish Statistical Institute, the number of houses, apartments and villas sold is growing every year.
Such a systematic increase in income is justified by the fact that the Republic of Turkey can provide foreign property owners with all the conditions for a comfortable stay
* a pleasant climate and the opportunity to enjoy the sun almost all year round;
* high standard of living and quality of services in all areas;
* good liquidity of investments;
* excellent quality of accommodation.
Every homeowner is faced with the question: should his house be insured against damage in the future? In Turkey, as in other countries, there is housing insurance for this.
An official contract is created at the conclusion of an insurance contract. It is necessary to exercise special care and take into account all the important points for the owner, since under the terms of insurance only the damage caused by the contract is insured.
What does real estate insurance offer in Turkey? Provides lifelong protection against various unforeseen situations that cause damage. For example, fires or other natural disasters. Under the terms of the insurance contract, the injured party will receive monetary compensation if the insured event occurred through no fault of your own and was reported by the employees of the insurance company.
Is household insurance mandatory in Turkey?
There are two types of insurance in the Republic of Turkey:
Compulsory insurance in Turkey includes DASK earthquake insurance. The generally accepted rule in the country is compulsory insurance, which is controlled at the city government level. In the event of an accident, the State will compensate the damage depending on the amount of damage to the property.
In addition to DASK Turkey, residents and foreigners can apply for private voluntary property insurance.
Thus, insurance offers protection not only from earthquakes, but also from other types of impacts that can damage your property.
As a rule, there are so-called standard insurance policies that cover about 15 types of risks for which financial losses are covered. Fire, flood, power outage, various kinds of accidents, breakdowns due to the failure of household appliances, office equipment, furniture, etc
. Foreign homeowners renting housing must pay mandatory insurance to protect their property.
Mandatory insurance schemes are regulated in the Republic of Turkey and are subject to all the basic requirements in this area worldwide. As a result, most citizens who move to a country of permanent residence apply for both health insurance and real estate insurance, because they know that it is better to pay a relatively small amount so as not to pay much more later.
DASK insurance - what it covers, features
DASK stands for Dogal Afet Sigortalari Kurumu. This includes cases related to natural disasters, in particular earthquakes, fires, landslides and explosions. DASK has insured residential and commercial real estate in Turkey.
DASK is issued once a year and is regulated by Law N587 "On Compulsory Seismic Insurance in Turkey". It operates throughout the country. According to official information, Turkish DASK is one of the best accident insurance companies in the world.
The amount paid annually by each homeowner or business owner depends on various conditions.
Therefore, the location of the property is crucial. The territory of the country is conditionally divided into several sections, depending on the risk of significant seismic activity or simple earthquakes.
In the popular resort region of Alanya, for example, the risk of an earthquake is considered minimal, so DASK insurance costs less than, for example, in the metropolis of Istanbul.
The amount of insurance also depends on the area of the property. The larger the square, the higher the amount you need to pay for annual insurance registration.
Another factor affecting the size of earthquake resistance is the design elements of the house in which the apartment or cottage is located. The construction materials used, technologies for the construction of the foundation, frame, roof are taken into account.
The final amount of DASK consists of the above components.
DASK cost and registration documents
The cost of DASK insurance in Turkey usually ranges from 15 to 150 euros per year. Take, for example, the city of Alanya: registration here costs 40 euros per year.
For registration, the owner of the property needs the following list of documents:
* A copy of the TAPU (certificate of ownership).
* Individual tax numbers for all homeowners.
* Passport numbers of the owner.
Insurance is issued very quickly. It will only take half an hour. This service can also be ordered online in Turkey.
In the case of insurance compensation, the total amount depends on the amount of material damage in the event of an insured event. All expenses related to damage to ceilings, floors, roofs, stairs and platforms will be reimbursed. Experience shows that the payment is sufficient to cover all repair costs.
DASK is also considered mandatory for the registration of water and electricity consumers in Turkey.
Buyers of real estate abroad should know that the safest city among the Turkish resorts of the Mediterranean is Alanya.
If you still have questions about insurance in Turkey, and you would like to have a house in this place for a holiday, contact the specialists of the sales department homes-turkey.com
We are always happy to help our customers!
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