Owners of property in Turkey should check they have adequate household and contents insurance, to avoid being caught out by a domestic emergency or unexpected damage caused to their property.
To help prospective buyers or recent owners, here are some tips on choosing the right insurer and policy for a home in Turkey.
1) It often makes sense to opt for a UK insurance company, rather than a Turkish one – aside from the English-speaking benefits, your liability limits are likely to be higher.
2) Ensure the value your property is insured for is sufficient. The amount should reflect how much it would cost to rebuild your property and should be index-linked.
3) If your property is a holiday home, your policy should reflect this. A standard household and contents policy won’t be valid for periods when your property is vacant or rented out.
4) If letting your property, you’ll need public liability insurance, as well as cover for loss of rental income following a claim, emergency travel and accommodation, and accidental damage cover.
5) Turkish property must have compulsory earthquake cover, called DASK.
6) Typical features that could increase your premium include a private pool/ hot tub, non-habitable outbuildings, or a conservatory. So a studio apartment will cost less to insure than a three-bedroom villa with a pool.
7) Taxes might be applicable to your policy, so check this with your insurer, to avoid being penalised for not paying all necessary taxes.
8) Have a plan in place in case you needed a plumber or electrician to visit your Turkish home in an emergency. Some UK insurers have a 24-hour helpline with English-speaking staff who will provide a translation service or speak to tradesmen on your behalf.
Contact Spot Blue for more information on buying property throughout Turkey: www.spotblue.com, +44 (0) 20 8339 6036.