After the tragic earthquake that struck Turkey, efforts to heal the region continue while awareness about earthquakes has inevitably increased. The quake centered in Kahramanmaraş caused many deaths and severe damage across 10 provinces, once again confronting the country with a harsh reality.
Beyond the loss of life, people are asking what measures can be taken to address the heavy structural damage. The Turkish Catastrophe Insurance Pool (DASK), introduced soon after the 1999 earthquake, is an important factor in this discussion. Insurance is only one of the precautions against earthquakes, but it plays a major role in covering losses when buildings are destroyed.
Does DASK Cover All Costs?
Operational across Turkey since the early 2000s, DASK aims to cover the material damage to buildings caused by earthquakes under the Compulsory Earthquake Insurance scheme. This type of coverage is a key element for reimbursing financial losses resulting from seismic events.
DASK covers damage to dwellings resulting from earthquake-related events such as fire, explosion, or landslide. However, it is important to note that damage to personal belongings inside the home, bodily injuries, and health-related expenses are not covered by DASK.
DASK pays for the reconstruction cost of the insured dwelling. Payments are calculated based on the annually determined unit cost per square meter and the insured area of the home, with the payable amount specified in the policy.
How Much Compensation Does DASK Pay?
With adjustments made in 2022, DASK coverage limits were increased. Under the current framework, the maximum compensation DASK can pay for a single dwelling is 640,000 TL. For example calculations: if a 100-square-meter home is destroyed in an earthquake, DASK would pay approximately 301,000 TL. For a 150-square-meter home the payout would be about 452,000 TL, and for a 200-square-meter home roughly 604,000 TL.