Wednesday, June 2, 2010

Earthquake insurance (DASK)


Here is some information concerning the compulsory earthquake insurance in Turkey called D.A.S.K. We can organise insurance cover for you where you are through our local office. If is cheaper that insurance companies like Intasure. Quite a bit cheaper.
You can check the amount on the official website here. It has an English section.
You can go direct to the calculation section here 

Price Guidelines for the Tuzla, Dorteppe, Milas, Gulluk area:
  • 64m2 - 87tl
  • 75m2 - 100tl
  • 100m2 - 131tl
  There is a 20% discount when you renew your policy, so ensure that you get this!

 Compulsory Earthquake Insurance constitutes a system of insurance that is in general meaning, intended for dwellings that remain inside the boundaries of the municipality. Buildings and dwellings subject to compulsory earthquake insurance are as follows:
  • Building constructed as dwellings on lands subject to private ownership and has a registered title deed,
  • Independent sections within the context of the Condominium Law No: 634,
  • Independent sections situated inside residential buildings but used as small business establishment, bureau and similar purposes,
  • By reason of natural disasters, properties built by the government or built by housing credit,

Scope of Cover
With the Compulsory Earthquake Insurance;

  • Earthquakes
  • Fires as a result of Earthquakes
  • Explosions as a result of Earthquakes
  • Landslides as a result of Earthquakes
causing material damages to the insured buildings are covered up to the sum insured by TCIP including foundations, main walls, common walls separating independent sections, ceilings and bases, stairs, platforms, halls, roofs, and chimneys.

Exclusions

  • Removal of debris expenses,
  • Loss of profit,
  • Loss of income
  • Loss of Rent
  • Alternative residence and work place expenses,
  • Financial liabilities and all other similar indirect damages brought forward,
  • All sorts of movable goods, furnishings and others,
  • All personal injury including death,
  • Claims of damages for pain and suffering

Maximum Sum Insured

The intent of the Compulsory Earthquake Insurance is to have a standard cover with a minimal premium. Consequently, TCIP grants cover in specified maximum sum insured determined by using unit cost of building construction. As of 01nd of January 2009 maximum sum insured amount granted by TCIP policies in all structure types is determined as 140.000 Turkish Lira.
The sum insured is determined according to the magnitude and structure type however not exceeding the maximum sum insured amount of the dwellings. If the value of the dwelling exceeds the sum insured amount given by TCIP, the insured optionally can get additional cover for the exceeding amount from the insurance companies. 

Part of our property management services in the Bodrum, Gulluk, Tuzla, Milas area includes organising DASK cover. Please contact us today.

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