What is dask insurance? Do I need this, when Buying a Property in Turkey?


What is DASK Earthquake Insurance?

DASK insurance is a mandatory cover that helps to protect your Property in Turkey from financial losses caused by natural disasters, such as earthquakes.

What do you need them for?

Turkey lies in an active seismic zone, which typically endures more earthquakes than many other countries. It’s for this reason that DASK insurance is critical. Learn about how Dask home insurance can keep you & your property safe.  

Is it mandatory to take out DASK insurance?

DASK Insurance is compulsory.  The Turkish government requires all homeowners to have DASK insurance, also called “compulsory earthquake insurance.” For context, it’s a policy established by the World Bank & Turkish Government, provided by the Turkish Cat-astrophe Insurance Pool.  DASK policies are revised annually, and the Turkish government makes it compulsory for people to stay up-to-date with potential changes in rules or regulations. You might not be asked to show proof of your DASK insurance but understand that you must have a policy when selling your home.

What is covered by DASK insurance?

DASK insurance reimburses you for costs associated with material damage to dwellings caused by earthquakes. In addition, incidents directly related to earthquakes are covered, such as fires or explosions, tsunamis, & landslides. Whether your home has suffered minor or severe damage, DASK insurance covers the financial losses, including:
Foundations - structural issues to your property that require attention.
Walls - any damage to inside or outside walls.
Ceiling & floors - holes, structural damage, and more.
Roofs - damage to the exterior or interior side of the roof.
Stairs - all possible negative impacts to the structure.
If you’re unfamiliar with the Turkish Property Market, you’ll need information about covering your property in line with local legis-lation. That’s where we can help. At Nordic Trust Homes, we will find out more about your property & arrange a DASK insurance policy that helps to mitigate against relevant risks.

How much does this insurance cost?

 DASK insurance costs vary depending on risk levels in your region (there are 15 different tariff rates with five risk zones). It also changes depending on your property’s structure— for example, whether it is made from steel, concrete, stone masonry, or another material. The property size and number of floors also impact cost.
DASK premiums are revised annually, and the TCIP (Turkish Catastrophe Insurance Pool) ensures they are kept affordable. But please be mindful that Istanbul is in a high-risk geographical zone with higher premiums.
One last thing to note down..  DASK is a separate form of cover from home insurance. Therefore, you may either take out DASK insu-rance on its own or both DASK & home insurance. Even though home insurance covers damage or loss caused by a natural disaster, you must take out DASK first.

Are my valuables also covered if I take out DASK insurance?

DASK Insurance

 Incidentally, earthquake insurance does not cover the contents of your property, so you’ll have to get additional insurance to protect any valuables within your house.

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