Istanbul has always been a unique city, and through the years it continued to evolve and shape its one-of-a-kind personality. Before we elaborate on earthquakes insurance in Turkey, let us have a quick look at some important information on this topic.
It is historically known that during the period of Ottoman rule, this city was of pivotal political and economic importance. It also witnessed an ancient urban renaissance that has survived to the present day.
However, the strategic location of the city, in turn, imposed its disadvantages on the city that is spread over both the Asian and the European continents. Throughout the long history of the city, it was hit by several earthquakes that caused massive destruction, which forced people to build their houses from wood instead of stones in order to minimize the damages as much as possible. However, this successful solution consequently posed a real problem in the seventeenth century as huge fires swept the city and turned neighborhoods to ashes.
Going back to contemporary history, Turkish architecture in modern times has undergone a qualitative shift in terms of the style of design and the nature of the used materials. Nevertheless, most buildings constructed during the nineties of the last century in Istanbul were not equipped to face the potential earthquakes geologists were concerned about. In fact, the city witnessed a devastating earthquake that prompted the Turkish government to impose new standards that benefited from the latest scientific findings in terms of resilience to earthquakes.
The construction sector, both public and private has been directed to transform facilities into earthquake-proof facilities through the development of safe building design according to recent seismic studies.The government is moving towards civil transformation and launching earthquake insurance in Turkey.
After 2012, the Turkish government began to plan a new civil transformation that includes the whole of Turkey and the city of Istanbul in particular, through which the Turkish state would ensure the demolition of all unsafe buildings from the seismic point of view and rebuild them according to new standards while obliging construction companies in the private sector to achieve the conditions as well and exercise control over them.
The Turkish government undertook a comprehensive study of all buildings in Turkey in terms of earthquake resistance. It has also regulated all these requirements and issued detailed legal frameworks for each state.The government's actions in this area have been manifested and currently boiled down to the earthquakes insurance named DASK which has become mandatory in recent years. Hence, no sale or rental related contract could be completed in Turkey without the existence of DASK.
What is mandatory earthquake insurance in Turkey?
It is insurance that includes damage that could occur to buildings after an earthquake.
What is the purpose of earthquakes insurance in Turkey?
Earthquake insurance in Turkey contributes to:
- Make all houses in Turkey insured against earthquakes.
- Assisting citizens by bearing part of the financial burden that may be incurred due to an earthquake.
- Reducing the burden of the earthquake on the government and establishing a permanent emergency fund.
- Contribute to making buildings in Turkey resistant to earthquakes.
- Increase the public awareness of the importance of this insurance.
What parts of the building are covered by earthquake insurance in Turkey?
Earthquake insurance in Turkey includes building foundations, core walls, dividing walls, garden walls, retaining walls, ceilings and floors, stairs and motorized elevators, skylights, corridors, roofs, chimneys, and complementary parts at the top of the building.
What is not covered by earthquake insurance in Turkey?
- Rubble removal costs.
- Losses in profits.
- Unemployment.
- Delayed/unpaid rent.
- Expenses for home / alternative workplace.
- The financial responsibilities that the homeowner can bear due to damage.
- All kinds of furniture goods and luggage.
- Physical damage and death.
- Emotional damage.
- Damage caused by fire, tornado, or landslide caused by an earthquake.
- Damages happening after the earthquake that was caused by a malfunction or lack of construction.
What buildings are covered in earthquake insurance DASK in Turkey?
All the buildings that are covered under Law 6035 for insurance against natural disasters in Turkey.
In short, these are the residential buildings registered in the Title deed and their workplaces and offices, independent real estate portions subject under the Land Property Law No. 634, and residential buildings constructed or granted by the State as a result of natural disasters, High-rise buildings, and buildings that have not yet taken a building description and whose type has not been specified in the title deed district, but which meet the requirements of these two laws.
Which buildings are not covered by earthquake insurance in Turkey?
Earthquake insurance in Turkey does not cover any of the following cases:
- Independent buildings and sections that are subject to the Land Property Law No. 2946 of 9/11/1983 or used as buildings for public service.
- Buildings constructed in villages and surrounding areas and small villages by the villagers.
- All commercial or industrial buildings.
- Buildings that have been modified or weakened to adversely affect the general building system or reconstruction plan.
- Buildings that have been established in contradiction with legislation.
- Buildings to be demolished by competent public institutions, neglected, dilapidated, or abandoned buildings that are not suitable for residential use.
It is noted that the rents for newly built houses in Istanbul have increased by 20% after the earthquake that struck the city on 26 September 2019.
In conclusion, we recommend Right Way Group for real estate to ensure investing in properties that are within the newly constructed buildings and that check with the above-mentioned criteria to avoid any possible damage.
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