DASK is earthquake insurance that is compulsory for residential buildings in Türkiye. Purchasing DASK insurance is a legal requirement when you purchase a property in Türkiye.
The insurance fee is calculated according to the value per square meter related to the location and structure features, multiplied by the gross size of the property. The DASK insurance is fee is re-calculated each year.
What is Mandatory Insurance when buying property in Türkiye?
Insurance is divided into two types:
● DASK (Mandatory Earthquake Insurance)
● Residence Insurance (Optional)
Under what conditions does DASK cover your damage?
DASK mandatory earthquake insurance covers damage by earthquakes and financial loss caused by related natural disasters such as fire, explosion, tsunami, and landslide. DASK covers the damage within the agreed limits as a cash payout. DASK insurance is required for all types of property.
The DASK maximum cover is 240.000 TRY for all property types. The reconstruction cost of the destroyed structure is considered (excluding the land value) when calculating the maximum payment. The payment is related to the size of the structure and the property type.
Footnote: Even if you purchase residence insurance, property owners must also purchase DASK during the buying phase.
What is Residence Insurance?
Residence insurance is a type of insurance securing your household goods and installments against natural disasters such as earthquakes and related fire, robbery, destruction, etc.
This type of insurance is in addition to DASK earthquake insurance. The insurance policy is renewed annually and can be cancelled, unlike DASK.
What if the damage costs more than DASK?
Residence insurance covers a wider range than DASK and plays a key role if the damage cost is more than DASK cover.
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