Author Topic: Home insurance  (Read 3486 times)

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Offline Hamlet

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  • Age: 65
  • Location: Yesiluzumlu, Turkey
Re: Home insurance
« Reply #20 on: August 07, 2015, 07:14:00 AM »
Agree with quackers, totally.  ;)

Would also recommend Dina (that's the correct spelling   :))
We first met her when she was based in the Renault dealership opposite the old Kipa, since then she has handled all of our insurances, cars, quad bike, buildings, contents, dask, green card.

In April we brought our UK car on a road trip out here and Dina also arranged the insurance for that whilst it is in Turkey.

Through my business dealings I have never had any problem with dealing with many insurance companies & brokers but I would never have faith enough in any one of them to handle all the insurances for either myself or my clients.
I would have that faith with Dina

No, I'm not on commission but would strongly advise you go see Dina.



Offline JohnF

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Re: Home insurance
« Reply #21 on: August 07, 2015, 07:50:29 AM »
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 1.2bn 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

Offline gyr

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  • Location: United Kingdom
Re: Home insurance
« Reply #22 on: August 07, 2015, 14:46:31 PM »
On a slightly different subject, the following is from the Intasure website in the FAQ's:

"Question
I would like to insure an apartment in Turkey, there are four apartments in the block, how would it be handled if, for example, the apartment below me was not insured. Presumably a rebuild would not be possible, would a straight payment be made?

Answer
If the other apartments are uninsured then the loss adjustor may take the decision to make a cash payment based on the average of three quotes to rebuild your percentage of the entire block. If for instance it would cost £125,000 to rebuild the whole block and there were four apartments then you would get £31,250."

When you think about it this it's fairly obvious that it would only be possible to rebuild what was insured, and if the owner above or below you had no insurance then the building could not be rebuilt. But what comes as a shock is the realisation that my buildings insurance actually relies on the owners below me having insurance on their property, and without it I would only receive my percentage of the rebuild costs, which would obviously be a lot less than I paid for the apartment.

The only way to be sure that the whole building is actually insured is to have Block Insurance but Intasure do not provide Block Insurance in Turkey, does anybody know anything about it and if it is available locally.




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