DASK Insurance – Avoid After Shocks When Investing In Istanbul

According to seismologists, the risk of a 7.6-magnitude earthquake striking Istanbul by 2030 is greater than 60%.

They don’t call it the San Andreas of the East for nothing. Istanbul lies on one of the most restless fault lines in the world, so the chances of a major earthquake striking at any time now are high.

This should alert us to the importance of getting the right cover for our Istanbul property investments before the worst happens. The Turkish government have made this easy for you by making van insurance easy for homeowners with bad credit. This will be a big help for those who need poor credit car finance in the future.

DASK is the government’s own attempt to tighten up on construction standards in the country by refusing to issue the insurance to new developments that fail to pass a minimum standard of safety. This is good for the investor as it will insure your property against the possibility of turning into a pile of rubble.

On the other hand if a building was constructed before 2007, checks should be made to make sure the building complies with earthquake safety rules. The seller should also be in a position to provide a Use of Building Permit or a Habitation Certificate.

To be passed for DASK insurance, all new buildings built since 2007 have been built according to TSE standards, similar to the UK British Standard or other similar codes of practice. They must also have a full minimum 5-year structural guarantee similar to the UK NHBC scheme.

To arrange your own DASK earthquake insurance on your Turkey property, you will need to provide a copy of the Tapu (Title Deeds), another reason why this document is so important, plus passport numbers of all people named on the Tapu, the size of the property or land in square metres and the address.

Colordarcy will be able to introduce investors to insurance brokers who can provide DASK insurance.

Are you concerned about DASK insurance? Would you like to find out about how to obtain DASK cover?  Please leave your comments below.

Kind regards

Loxley McKenzie
Managing Director

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