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trProperty insurance in Turkey
When buying property in Turkey, it is advisable to insure your property against extreme environmental disasters.
Home insurance in the territory of the republic is a fairly common phenomenon. Insurance payments are made immediately and many property owners purchase several insurance policies in order to protect their property as much as possible from any unforeseen situations.
A common question from homeowners is whether property insurance is required in Turkey?
Among the owners of Turkish real estate, insurance is a very common and popular service.
There are two types of insurance: compulsory and voluntary. All property owners are required to take out an earthquake insurance policy - TCIP or DASK.
It is issued without fail when buying real estate and is subject to annual renewal.
Since part of the state is located in zones of seismic activity, this item of expenditure is fully justified.
The Turkish catastrophe insurance pool, or in Turkish Turkish Catastrophe Insurance Pool - TCIP, is provided by government agencies of the state and compensates material damage to property owners in Turkey affected by an earthquake, fire and related natural disasters. The insurance policy was introduced on August 17, 1999, as a result of a large-scale earthquake on the coast of the Marmara Sea in order to ease the financial burden on the owners of houses and apartments.
DASK stands for Dogal Afet Sigortalari Kurumu and is compulsory insurance in Turkey. This is one of the most successful natural disaster insurance systems worldwide. The action of the pool extends to the entire territory of Turkey, allowing compensation for damage to the victims in a timely manner.
