RESIDENTIAL SHARED SPACES INSURANCE

As NART, we secure the shared spaces of the sites and apartments against all risks.

As NART, we cover the shared spaces of the building complexes and buildings and the assets such as “fixtures, electronic devices, machinery-installations, cash and valuable papers, glass, billboards, totems” in these areas with a single policy against fire, earthquake, flood, hail, electronic device failures, machine breakage damages, glass breakage, theft and many risks to the working staff.

Which Parts Count as Shared Space?

According to the law, the following parts are considered as shared spaces, and all flat owners have rights in these shared spaces in proportion to their land share:

• Foundations and main walls, beams, columns and curtain walls, other load-bearing system parts, common walls separating independent sections, ceilings and floors, courtyards, elevators, landings, general entrance doors, vestibules, stairs, corridors, public toilets and sinks, concierge apartments, communal garages, heating rooms, general water tanks of the building and shelters.
• Sewerage facilities, garbage ducts, central heating, water, gas and electricity facilities, common network and antennas for telephone and television located outside the section of each floor owner.
• Roofs, chimneys, general roof terraces, gutters and fire safety ladders.

Damages occurring in these areas can be evaluated within the scope of shared spaces insurance. Shared spaces are not limited to these, and all areas required for common use, protection and benefit (safety box, pool, playgrounds, billboards, etc.) will be considered as shared spaces. At this point, caution should be exercised in terms of which areas are insured in the insurance policy to be taken out, and it should be ensured that especially the parts of shared spaces that are not explicitly listed in the Law are also covered by the insurance policy.

So What Types of Damages Will Be Covered?

The important thing here is to prepare the most suitable insurance policy in line with the needs of the apartment and the site. Major coverages are: 

• Fire,
• Material / bodily damages to be incurred by third parties,
• Damages suffered by the personnel,
• Natural disasters such as lightning, landslide, earthquake, flood,
• Terrorist activities,
• Debris removal costs
• Theft,
• Machine breakage,
• Electronic device malfunctions,
• Elevator responsibility
• Heating department responsibility
• Motor vehicle liability
• Inflation protection

The listed ones are not limited to these, but apartments and estates will be able to benefit from different types of insurance according to the possibilities of insurance companies. The important thing here is to determine the types of coverage that the site and the apartment need, and to agree with a reliable insurance company that will fulfill its commitments.