Residential Complex Package Insurance: What It Covers
⏱ 2 min read
Residential complex package insurance brings together the risks a building management faces in shared areas. It is standard practice in the newer complexes around Maslak, Ayazağa and Vadistanbul.
Typical cover
- Fire, water damage and storm in shared areas
- Lift accidents and lift liability
- Management’s liability to third parties
- Shared-area glass and fixtures
- Pool, car park and landscaping risks
- Employer’s liability for staff
Where the boundary lies
Contents, furniture and electronics inside a flat are outside the complex policy. Each owner or tenant needs their own home insurance.
Critical point for managements
The building sum in the policy should reflect the rebuild cost of the complex. An understated sum reduces payment proportionally in a large loss, and it should be updated at every renewal.
Lift liability
Injuries arising from lifts are the management’s responsibility. If this limit is set too low, the management faces a serious gap. Periodic maintenance contracts may also be a policy condition.
Frequently asked questions
Does the complex policy cover my flat’s contents?
No. Contents inside the flat require the owner’s or tenant’s own home insurance.
Who arranges the complex policy?
The management, by decision of the owners’ assembly; the premium is usually funded from dues.
Related pages
Insurance advice in Maslak and the surrounding area
“Residential Complex Package Insurance: What It Covers” is one of the questions we are asked most often by clients in Maslak, Seyrantepe and 4. Levent. In the newer complexes around Maslak 1453, Vadistanbul and Seyrantepe we check the gap between the DASK ceiling and the real rebuild cost.
Our office is based in Maslak, Istanbul. We meet clients within a short drive — Maslak, Seyrantepe and 4. Levent — or handle everything by phone, e-mail and WhatsApp, in Turkish and English. If you are searching on your phone for an insurance agency nearby, you can simply call +90 540 384 21 41 or see the related service page.
We compare policies from several insurers and explain the differences before you buy. Contact us or call +90 540 384 21 41.
