HOME COMMON AREA INSURANCE
In buildings where the condominium regime is applied, the board of condominium owners may decide to insure the common areas. Of course, at this point, it is necessary to know what is included in the scope of common areas as well as what damages the insurance will cover. The common areas of the complexes/apartments and the assets such as "fixtures, electronic devices, machinery and installations, cash and valuable documents and glass, advertisement boards, totems" in these areas are covered against many risks such as fire, earthquake, flood, inundation, hail, electronic device malfunctions, machine breakage damages, glass breakage and theft with a single policy.
Which Areas Are Considered Common Areas?
Pursuant to the Law, the following parts are considered as common areas and all condominium owners have rights in these common areas in proportion to their land shares.
Foundations and main walls, beams, columns and curtain walls, other structural system parts, common walls separating independent sections, ceilings and floors, courtyards, lifts, landings, general entrance doors, vestibules, stairs, corridors, general toilets and washbasins, janitor's apartments, common garages, heating rooms, general water tanks and shelters.
Sewerage facilities, garbage ducts, heating, water, gas and electricity facilities, common networks and antennas for telephone and television, located outside the section belonging to each condominium owner.
Roofs, chimneys, general roof terraces, rain gutters and fire safety ladders. Damages occurring in these areas can be considered within the scope of common area insurance. Of course, common areas are not limited to these, but all areas required for common use, protection and benefit (security booth, pool, playgrounds, advertising boards, etc.) will also be considered common areas. At this point, care should be taken about which areas are insured in the insurance policy to be made, and it should be ensured that the parts of the common areas that are not explicitly listed in the law are also covered by the insurance policy.
So, which types of damages will be covered by the coverage?
Although many insurance companies offer various packages, the important thing here is to prepare the most appropriate insurance policy in line with the needs of the apartment/complex. At this point, condominium owners will be able to add the appropriate ones from the following coverage scopes to their policies:
Fire
Material / bodily damages to be incurred by third parties
Damages suffered by workers
Natural disasters such as lightning, landslides, earthquakes, floods
Terrorist activities
Debris removal costs
Theft
Machine breakage
Electronic device malfunctions
Lift responsibility
Heating room responsibility
Motor vehicle liability
Inflation protection
Besides these, the apartment/building complexes will be able to benefit from different types of insurance depending on the opportunities provided by the insurance companies. The important thing here is both to determine the types of coverage required by the complex / apartment building and to agree with a reliable insurance company that will fulfil its commitments.