Insurance of residential and commercial real estate in Turkey
Dogal Afet Sigortalari Kurumu or, abbreviated, DASK is insurance of residential and commercial real estate in Turkey against natural disasters, in particular, earthquakes. Insurance is issued once a year and is mandatory for all owners, including foreigners who have bought housing or commercial facilities in the country. The insurance is valid throughout Turkey and is regulated by Law No. 587 of "On Compulsory Earthquake Insurance". By the way, Turkish DASK is currently recognized as the most successful insurance against natural disasters in the world. The annual cost of insurance depends on several factors. Firstly, this is the place where the property is located. The whole country is conditionally divided into zones, in accordance with seismological risks. For example, in Alanya, the risk of earthquakes is almost zero, so the cost of insurance there is cheaper than, for example, in Istanbul, which is more unfavorable in this regard. Secondly, the cost of insurance depends on the area of the object: the larger it is, the higher the amount of insurance. And, thirdly, the amount of the insurance premium depends on the construction of the building, in other words, on what the house is made of, what kind of foundation it has, what kind of frame and what age of the structure. These three factors make up the cost of DASK. On average, in Turkey it is from 15 to 150 euros per year. For example, in Alanya, on average, insurance costs 40 euros per year. In order to issue a DASK, the property owner will need a copy of the TAPU, the tax numbers of the property owners, as well as their passport numbers. Registration of insurance takes literally several tens of minutes, now this service can be obtained using the Internet. The amount of insurance payments depends on the degree of damage to the property upon the occurrence of an insured event, as a rule, they more than cover all costs. It is worth noting that the Antalya coast, in particular, Alanya, is the safest in terms of natural disasters.