Earthquake insurance on real estate in Turkey? Why is it mandatory?

Turkey has been subjected to a series of earthquakes, ranging in strength from light to medium, over the past years, and perhaps the most famous of them was the Izmit earthquake in 1999, which led to catastrophic results due to the destruction of many buildings and infrastructure

Therefore, following this horrific event, the Turkish government issued a mandatory insurance law against earthquakes and natural disasters, to avoid such kind of unfortunate accidents in the country and to preserve lives and property.

What is mandatory earthquake insurance and what is its purpose?

The Turkish government issued the mandatory law for insurance against earthquakes and natural disasters in 1999 following the earthquake in the state of Izmit. Accordingly, the earthquake insurance policy became a condition for owners of property in Turkey of all kinds, and water, electricity and natural gas services cannot be obtained without obtaining the insurance, and this document guarantees the right of investors That the building meets the requirements of earthquakes and that it conforms to the specifications and special conditions of international safety standards.

It is provided by the Natural Disaster and Pest Insurance Corporation or what is known as DASK (which is affiliated to the Ministry of Finance in Turkey) in order to compensate the owners of apartments in buildings that have been exposed to any natural disaster such as earthquakes, fires or hurricanes, where the cost of the loss is calculated for these people and delivered them in cash.

Documents required to obtain earthquake insurance in Turkey?

A copy of the title deed (or Tapu)

Identity or passport copy of the person applying for the insurance policy

Property details and area determination

After preparing the necessary papers, they are handed over to one of the approved insurance companies, which completes the procedures for issuing this document from DASK and delivers it to the person applying.

What aspects does this type of insurance cover?

In the event that the area was hit by an earthquake and the building was completely or partially damaged, the DASK insurance company will cover the expenses of some matters, which are:

Building foundations and foundations
Core walls
partition walls between rooms
Floors and ceilings
Stairs and elevators, as well as corridors and surfaces
garden walls
Supplementary sections to the upper parts

There are some things that are not covered by insurance against earthquakes and natural disasters, which are:

Losses due to business interruption.
Debris removal costs.
Covering the costs of alternative accommodation for distressed persons.
Losses of furniture and goods located in destroyed buildings.
physical injuries
Psychological injuries to afflicted people.
Any damage caused by pre-existing problems in the buildings before the earthquake.