Increase in insurance claims following the flood disaster in Istanbul

Following the floods and water inundation in Istanbul, citizens flocked to insurance agencies. A significant increase was observed in applications for comprehensive vehicle, homeowners, and workplace insurance policies, as well as requests to add flood coverage to existing policies.

There is high activity at insurance agencies following the flood disaster in Istanbul. Vehicle owners, homeowners, and business owners who previously avoided getting comprehensive or other insurance due to costs are now applying to agencies against potential risks. While quote requests have increased over the past two days, a rise in policy issuance has also been recorded. Insurance agencies stated that there is an increase in the number of policies issued compared to normal days.

The increase was not limited to those wanting to get new insurance. Citizens who already have comprehensive vehicle, homeowners, or workplace policies are also checking whether their policies include flood and water inundation coverage. Additional coverages that were previously excluded to lower costs are now being added to policies through endorsements. It is stated that the rate of home insurance in Turkey remains below European levels, where rates reach 85 percent.

İbrahim Caymaz, an agent operating in Istanbul, stated that interest in insurance has increased following the flood inundations, while Nilgün Uslu reported that requests for quotes for comprehensive vehicle, homeowners, and workplace insurance have multiplied in the last two days. Experts, however, pointed out that not every policy covers flood damages and emphasized the need to examine special conditions, coverages, limits, and deductible provisions.

Levent Küçük, President of the Consumers Association (TÜDER), noted that those with flood coverage should report their damages to the insurance company, while individuals without comprehensive vehicle insurance can seek legal rights through administrative channels.