Buying Earthquake Insurance for Properties in Turkey

Earthquake insurance for properties in turkey

As Turkish real estate continues to grow in popularity and demand, it is crucial for would-be buyers and investors to analyze the importance of obtaining earthquake insurance.

Taking a brief glance at Turkish architecture in the past few decades, it has undergone a massive qualitative shift in terms of design, style, and the nature of materials used. Back then, it seemed that property developers did not take into consideration the consequences of natural disasters on buildings and its framework. 

After the country experienced a few devastating aftermaths of low to moderate earthquakes, it prompted the Turkish government to set new housing standards. The latest technology, architectural plans, and science were taken into account for fabricating structures that are resilient to earthquakes. 

The launch of earthquake insurance and urban transformation plan in Turkey

Post-2012, the Turkish government commenced planning for a new urban transformation that involved major cities in Turkey, Istanbul in particular. The government undertook to demolish seismically unsafe buildings and rebuild properties in accordance with modern construction conditions and earthquake-proof structures. 

Moreover, the administrative authorities in Turkey took the responsibility for examining and carrying out a comprehensive study of all buildings in the country in terms of earthquake resistance. They also regulated construction requirements, furnished legal frameworks, and issued detailed regulations for each city and district. 

In recent years, it has become a requisite to get earthquake insurance in Turkey when buying any commercial or residential real estate in the country. Without it, it is not possible to perform any transaction or culminate any contract in relation to the construction and if the earthquake insurance policy is not one of the papers for concluding the transaction. 

What is earthquake insurance in Turkey?

It is the mandatory insurance for all types of properties in Turkey, whether residential or commercial. The insurance covers the expenses of repairing the damaged house if exposed to earthquake tremors. 

The decision to impose this regulation by the Turkish government came into effect after the famous Marmara earthquake in 1999. Owing to the destruction caused by the 7.6 Richter earthquake, the “Natural Disaster Insurance Corporation”, also referred to as DASK, was rightfully established. Supervised by the Turkish Ministry of Finance, the regulative institution is responsible for extracting earthquake insurance in Turkey. 

DASK earthquake insurance 

Under the DASK earthquake insurance scheme, any new developments or property construction that fails to pass the minimum standards test will not be provided with the necessary housing certificates. 

Checks are made to ensure that the properties in Turkey comply with the earthquake safety regulations. Furthermore, real estate is sold only if the seller furnishes a Habitation Certificate or Use of Building Permit. 

For your property to meet the requirements of DASK insurance, all buildings assembled post-2007 must be constructed in accordance with the TSE standards which are identical to the UK British regulations or similar codes of practice. Moreover, it is mandatory to have a minimum of five years of structural guarantee of commercial and residential real estate in Turkey

Documents required for DASK earthquake insurance

To apply for DASK earthquake insurance, property buyers need to provide the following documents:

  • A copy of the Turkish title deed or TAPU
  • The size of the land and property in square meters
  • The passport numbers of individuals mentioned in the TAPU
  • Turkish tax reference number
  • The full address of the property

What is covered under the earthquake insurance in Turkey?

Earthquake insurance for properties in Turkey includes building foundations, separating walls, basic walls, garden walls, ceiling, floors, retaining walls, elevators, staircases, corridors, chimneys, skylights, and complementary parts at the top of the building.

What expenses are not covered in the earthquake insurance?

The following expenses are not covered under the earthquake insurance in Turkey:

  • The costs of rubble removal
  • Inactivation losses
  • Loss due to lease disruption
  • Rental damages
  • Expenses of shifting to a new home or business
  • Psychological damages
  • All types of furniture, luggage, and goods
  • Physical damage and death
  • Damages caused by the malfunction or lack of construction

Purpose of earthquake insurance in Turkey

Getting earthquake insurance for properties in Turkey can provide you with innumerable benefits during difficult times. Its purpose includes:

  • Securing and financially safeguarding houses in Turkey against earthquakes.
  • Establishing a permanent emergency fund and reducing the burden from the government’s shoulders.
  • Contributing to making houses and apartments in Turkey resistant to earthquakes.
  • Bearing the material damages that the property may have in the event of earthquake tremors. 
  • Raising public awareness about obtaining earthquake insurance and its importance.

Closing remarks

When purchasing a property in Turkey, there are several documentations, procedures, and legal steps that must be completed in order to gain ownership. Getting earthquake insurance for the property is one of them. The Turkish government has made it mandatory for property owners to hold DASK earthquake insurance. 

If you wish to buy an apartment in Turkey or seek assistance for making a real estate investment for gaining Turkish citizenship, connect with our seasoned team of real estate experts and legal advisors here. 

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