Common Area Insurance

Residents of the housing estate and apartments face many different risks each day in their common living areas. This puts important responsibilities on managers for the security of common areas.

Common Area Insurance is compulsory for housing, business centers, shopping malls and all general communal living centers by the Law No. 634 on Ownership.

The purpose of making insurance, common area determination, the amount of premiums per floor occupants' share, management's obligation to take out the insurance and the importance of Common Area Insurance issues are specified in the law.

The responsibility of the Common Area Insurance, whose scope and guarantees are determined by the Condominium Law, is given to management by laws. In the event of any claim, all responsibility rests with the management and it is the responsibility of the management to cover the claim.

The Common Area Insurance is the only insurance that can meet the different needs of apartment and site type living spaces. The policy covers the material damages that may occur in the common areas of the reinforced concrete apartment buildings or sites and the material or physical damages to third parties.