Apartment Insurance and DASK: Which Are Mandatory?

Why Is Insurance Important?

Insurance is protection that mitigates the financial burden of an unexpected loss (fire, flood, earthquake, accident). There are different types of insurance in an apartment, and it is often confused which one is arranged by whom and how. A correct insurance plan provides security for both owners and management.

DASK: Compulsory Earthquake Insurance

For residential independent units, DASK (compulsory earthquake insurance) is mandatory and, as a rule, is each owner\'s responsibility. DASK covers earthquake and earthquake-caused damages within a specific limit. We covered DASK\'s scope and limits in detail in our DASK article.

Common-Area Insurances

Insurances taken out for the building\'s common areas (such as common-area fire insurance) are different from DASK and are generally evaluated within the scope of common expenses. These insurances protect the building against damages in common areas and are included in the operating project. Which common insurances are required is determined according to the building\'s structure.

Liability Insurances

In some buildings, liability insurances against possible damages to third parties are also considered. For example, liability that may arise due to an accident in a common area may be secured with such insurances. These insurances are particularly important in buildings that employ personnel and have intensive common areas.

The Role of Management

The manager is responsible for arranging and renewing common-area insurances; this must be planned in the operating project. For individual insurances such as DASK, management\'s role is to inform residents. We covered the inclusion of insurance premiums in the budget in our operating project article.

Common Mistakes

• Relying only on DASK: DASK is limited and does not cover common areas.
• Neglecting common insurance: Common-area damages remain unprotected.
• Not renewing policies: An expired insurance does not provide protection.

This content is for informational purposes. Consult authorized insurance institutions for insurance coverage.