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10 things you should know about DASK Insurance (Compulsory Earthquake Insurance)

11th July 2017

DASK (Compulsory Earthquake Insurance)


Which buildings are coveraged for DASK?


- The buildings constructed as houses on immoveable properties which are registered to the title deed, and subjected to personal property.


- Independent sections under the Law No. 634 on Flat Ownership. Independent sections which are found in these buildings, and used as office, bureau and for similar purposes.

- Houses which are constructed by the state or load due to natural disasters.

- Compulsory Earthquake Insurance is also required for the buildings complying with the above mentioned conditions, flat ownership of which is established; the buildings for which no type adjustment is made as their qualification is seen as LAND in the title deed; cooperative houses, title adjustment of which has not been made yet.

 

What is the policy coverage of DASK?


It covers material damages to the insured buildings which will be directly caused by Earthquake and Fire - Explosion - Landslide after an earthquake.


How is an indemnity payment made in Compulsory earthquake insurance?


After the indemnity amount is determined according to the laws and policy provisions, the Natural Disasters Insurance Authority has to pay the definite indemnity to the person entitled in one succeeding month at the latest, provided that the amount doesn't exceed the sum insured.


Is it possible for right to indemnity to decrease in Compulsory Earthquake Insurance?


A property owner or owner of usufruct right who causes or leads to the modification or weakening of the building and its every independent section incompatible with the project and in such a way to affect the load-bearing system, the concerned person loses his/her right to indemnity as much as the amount of damage incurred if it is determined that the damage incurred results from or increases just because of this.


Is any penal sanction imposed if no compulsory earthquake insurance is provided?


Following the enforcement of Compulsory earthquake insurance, as of 27 March 2001, those who neglect Compulsory Earthquake Insurance although it is required cannot be a beneficiary for loss and damage to be covered under this insurance within the framework of the legislation relating to natural disasters. Moreover, it is compulsory for land registry proceedings to submit a document certifying that Compulsory Earthquake Insurance is provided.


Does Compulsory earthquake insurance cover the household goods?


Compulsory earthquake policy only covers buildings. For household goods, comprehensive household insurance is required. You may obtain a quote for Home & Contents Insurance online here.


Which policy pays for the indemnity claims when damage occurs?


If the insured has both a Compulsory earthquake insurance policy and a voluntary policy provided by the insurance company, the claim is paid by Compulsory earthquake insurance policy, and the part exceeding the coverage limit is covered by voluntary policy.


The Deed of Building belongs to one of my relatives who died. Although I am his heir, the assignment of the building has not been made yet. In such a case, do I have to get a compulsory earthquake insurance? If so, does the policy have to be issued to my name?


It is compulsory to have compulsory earthquake insurance made. It is compulsory in any case. For a building, deed of which has not been assigned to you, the policy is issued to the name of the person whose name is registered in the title deed. After the deed is assigned to you with a certificate of inheritance, the policy is changed to your name with an addendum by notifying DASK of the recent situation.


I have bought a new house. The house has DASK insurance. Is this policy transferred to the new owner of the house?


Yes


I have sold my house and bought a new one. Can I transfer my current DASK policy to my new house?


No. No address change can be made in DASK policy.





Get your DASK Policy Online here






 


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