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15th May 2008, 19:48
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#1
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Senior Member
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How do you calculate House Insurance required for Turkey?
I know this has probably been covered in various ways in the past but:
Can anyone tell me what values I need to consider when buying House Insurance?
Scenario.
Say the apartment is worth £65K.
What is reasonable for rebuilding costs?
Dask covers 33% in the even of an earthquake, so I would need 44K but if a fire broke out or the apartment below had a fire do I need to insure for £65K or something less? What would that figure be?
Contents are separate.
I am probably not making much sense, but I hope someone can advise me?
Thanks,
TJD
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15th May 2008, 19:54
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#2
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Has a Senior Member
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Re: How do you calculate House Insurance required for Turkey?
There is usuually a fixed 'rebuild cost' for each building type in Turkey.
If you want to insure for more than this set 'rebuild cost' then you must pay a higher premium.
If you wanna discuss options, best to ring someone like Intasure in the UK.
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15th May 2008, 21:23
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#3
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Senior Member
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Re: How do you calculate House Insurance required for Turkey?
Quote:
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Originally Posted by gren
There is usuually a fixed 'rebuild cost' for each building type in Turkey.
If you want to insure for more than this set 'rebuild cost' then you must pay a higher premium.
If you wanna discuss options, best to ring someone like Intasure in the UK.
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Actually Gren it's Intasure I'm talking to and am just wanting to confirm what they're telling me.
I'll chat to them again tomorrow,
Cheers! |
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15th May 2008, 21:54
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#4
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New Member
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Re: How do you calculate House Insurance required for Turkey?
I am with Intasure. The sum insured is less than the value of the property because you do not have to buy the land again. You just have to meet the rebuild costs. Hope this helps.
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15th May 2008, 23:16
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#5
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Senior Member
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Re: How do you calculate House Insurance required for Turkey?
Ok thanks for that - I kinda thought along those lines, I'm just looking for reassurance as their rates are quite low.
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16th May 2008, 08:32
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#6
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Senior Member
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Re: How do you calculate House Insurance required for Turkey?
Hi tjd,
When we insured with Intasure they asked how many square metres the house had and then calculated the rebuild cost on this basis. We had set a far higher value ourselves but they explained that building costs are much lower in Turkey than in Germany - that's true enough.
We went ahead and insured with Intasure. At the beginning of this year we had a claim for a glass wall system that was ripped out in a bad storm. I contacted Intasure immediately with photos, weather data, newspaper reports etc (thanks again to the forum members living in Turkey) and they paid up within 2 weeks. We've had a few insurance claims in both Ireland and Germany - and never had a company that paid so promptly and with so little hassle.
Hope this helps in your decision.
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