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Demand for car, home and business insurance has surged in Istanbul following devastating floods that killed four people, with insurance agencies reporting a rise in new policies and requests for coverage over the past two days.
The floods left homes and businesses submerged and vehicles stranded in floodwaters, while search operations continued for three missing people.
According to Türkiye daily, residents who previously put off buying insurance because of high costs are now turning to agencies for protection against potential future damage. One insurance agent reported issuing four comprehensive car insurance policies in a single day, compared with the usual one.
The increase in demand extends beyond new insurance purchases, as existing policyholders are also checking whether their plans cover flooding and water damage.
Istanbul-based insurance agent Ibrahim Caymaz said customers were contacting agencies to review their coverage, while some were requesting policy endorsements, known in Türkiye as zeyilname, to add protections they had previously excluded to reduce costs.
Another agent, Nilgun Uslu, confirmed that requests for quotations for car, residential and commercial property insurance had increased over the past two days, particularly among residents who had previously postponed purchasing coverage.
However, insurance specialists warned that not every policy automatically covers flood-related damage. They urged customers to review coverage limits, exclusions, deductibles and specific policy conditions before purchasing insurance.
The renewed interest has also brought attention to Türkiye's relatively low insurance coverage rates compared with the European Union.
According to figures cited by Türkiye daily, comprehensive car insurance covers approximately 26% of vehicles in Türkiye, compared with 65%–70% in the EU.
The gap is wider for property insurance, with residential coverage standing at 19% in Türkiye against 70%–80% in the EU, while business insurance reaches 21% compared with 75%–85% across the bloc.
Consumer Association (TUDER) President Levent Kucukurged vehicle owners with flood coverage to file damage reports with their insurers.
For uninsured motorists, he explained that legal action against the relevant public authority may be possible if damage resulted from inadequate infrastructure or a failure to take necessary precautions.
Policyholders who consider their insurer's compensation offer insufficient can apply to Türkiye's Insurance Arbitration Commission, supported by assessment reports and comparable vehicle prices.
Kucuk also pointed out that consumer arbitration committees handle eligible disputes worth up to 186,000 Turkish liras, while higher-value disputes may proceed through mediation and subsequently consumer courts.
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