As I understand it we all have a Dask for Earthquake Insurance, but this only covers the clearance of the land about 50,000 Lira.
Unfortunately, in the event of a claim its unlikely the "amount insured" will be paid. I've always had my suspicions over the relationship between premium paid/amount insured versus actual payout in the event of a claim with DASK.
Overall, since the introduction of the TCIP in 2000, the average payout has been appx 7,600tl.
If we take the earthquake in Van in 2011, this being the biggest seismological event the TCIP has had to deal with - 7,658 claims were made and the average payout was 16,516tl.
Given the devastation in Van, sixteen and a half thousand lira, plus change, is a pretty pi$$ poor level of return on premiums paid I reckon. And before anyone says "
yeah, but the premiums are relatively low", its worth noting that in 2012, there were 4.7m policies in place which if we (for arguments sake) just say average 250tl a time, would bring in just shy of 1.2
bn lira!
The 4.7m policies is only a 30% market penetration, which suggests that seven out of ten Turks feel pretty much like I do about a DASK policy. Now that deeds offices and utility companies have access to the main TCIP system, I suspect the (reluctant) take up rate will have increased from the 30% in 2012.
Taking those figures, which I will say are from 2012 (the latest I could get my hands on), you have to ask - how much use is a DASK policy?
The other question you have to ask, is where is all the money?
Answers in a shoebox please.
Dask ıs compulsory ın Turkey for everyone and ıs Government led so no dıscounts available.
You sure? I thought you got 10% on first year renewal and 20% on second and subsequent renewals?
JF