Natural Disaster Insurance

Natural Disaster Insurance Association (DASK-Dogal Afet Sigorta Kurumu)

Scope of the Warranty
With the Mandatory Earthquake Insurance (Zorunlu Deprem Sigortasi) DASK will compensate up to the full amount of the purchased insurance all earthquake damages from fire, explosion and landslide. DASK covers damages done to the construction: to the base, main walls, common walls dividing independent areas, floors, ceilings, stairs and stairway platforms, roofs and chimneys.

What is not Covered by DASK

·  -Debris removal expenses, loss of profit, loss of rent, alternative residence and commercial space expenses, financial responsibilities and preexisting damages

·  -All movable property, furniture etc

·  -All personal injury and death

·  -Damages for pain and suffering

Warranty Limitations
The goal of Mandatory Earthquake Insurance is to provide minimal standardized coverage. For this reason DASK every year determines standard maximum coverage based on the price of construction material.

It was announced by DASK that maximum coverage for all constructions build after 8 February 2006 is 100,000 YTL. The amount of coverage is based on amount of money needed to rebuild the same construction. The insurance fee depends on the size of the construction/home and the building style. If the worth of the construction exceeds the maximum coverage given by DASK, extra insurance that applies to specific items can be purchased from DASK.

Establishing of Insurance Fee

Insurance fee will depend on 3 factors:

·  1. Location of the construction and if it is in an earthquake risk zone

·  2. Construction style

·  3. The size of the residence

·  Insurance fee will be higher for residences located in high risk earthquake zones. There are 5 earthquake risk levels and 3 construction styles, and based on these, 15 different fee levels have been established.

A – Steel, armoured concrete, concrete: 2.20 1.55 0.83 0.55 0.44

B - Unreinforced masonry construction: 3.85 2.75 1.43 0.60 0.50

C – Other construction : 2.50 3.53 1.76 0.78 0.58

The division into earthquake risk zones was taken from the Turkey Earthquake Zones map prepared by Ministry of Public Works and Housing.

As for the construction styles, they are described as follows:

A. Steel, armoured concrete, concrete: constructions with the steel or armoured concrete construction skeleton

B. Unreinforced masonry construction: constructions without construction skeleton; debris, stone or brick are used for the walls carriers. Platforms, ceilings and stairs are made of concrete or armoured concrete

C. All other constructions

Condominium Ownership Law (Kat Mulkiyet Kanunu), Item 634 states that in condominium complex’ management can get 10 % off the regular insurance fee for group insurance under certain circumstances.

Because in Turkey there is no widely spread common knowledge about insurance, there is need for various methods of supervision and control. One of the methods being used now is a requirement to have purchased earthquake insurance in order to register property and get title deed. Similarly, when registering the property for water, gas, hydro, even telephone, one has to provide a proof of purchased earthquake insurance.

According to the law (Kamu Haklari Kanunu, Item 587 and Kanun, Item 7269), if one does not purchase the earthquake insurance, in case of the earthquake the government will not provide any financial help for any of the items that would be covered by the insurance if one had been purchased. Also, one will not qualify for a bank credit based on the earthquake damages that would be covered by the insurance. With the creation of mandatory earthquake insurance (Zorunlu Deprem Sigortasi), the government ceased to be in charge for after earthquake recovery help. For that reason, those ones who do not purchase the earthquake insurance do not have any other protection against damages in case of the earthquake. One should keep on mind that nothing can be as expensive as losing one’s home.

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