Rising Demand for Earthquake and Home Insurance in Turkey Following Istanbul Quake

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Increased Interest in Earthquake and Home Insurance Post-Istanbul Tremor

The Istanbul earthquake on April 23, 2025, with a magnitude of 6.2, has led to a significant rise in demand for Compulsory Earthquake Insurance and Home Insurance, as reported by Turkey’s leading digital insurance platform, sigortaladım.com. The platform has recorded a 30% increase in insurance claims nationwide, as citizens seek to protect themselves against potential future disasters.

Compulsory Earthquake Insurance, known as TCIP, not only covers damages from earthquakes but also includes protection against related natural disasters such as fires, explosions, tsunamis, and landslides triggered by earthquakes. Home Insurance extends this coverage to all structural and optional content damages from risks like earthquakes, fires, theft, flooding, and storms.

Importance of Combined Insurance Policies

Orçun Kızıltepe, Deputy General Manager of sigortaladım.com, emphasized, “Securing both TCIP and Home Insurance is crucial to mitigate financial burdens post-earthquake. This combination allows homeowners to manage risks more comprehensively and reduces financial losses significantly. Many insurers provide special discounts for purchasing both policies together, which can be easily compared on our platform.”

Kızıltepe highlighted the current insurance coverage statistics, noting, “According to the Insurance Association of Turkey, by the end of 2024, TCIP penetration was at 56%, while Home Insurance stood at approximately 25%. Although these figures signify an increase in insurance awareness compared to previous years, they are still not at optimal levels. Following the earthquakes in Kahramanmaraş and Hatay, and now the recent Istanbul quake, there has been a 30% surge in demand for these insurances across Turkey.”

Facilitating Access to Insurance Products

Kızıltepe stated, “At sigortaladım.com, we prioritize our customers’ time and have streamlined our processes to ensure quick and efficient service delivery. With the integration of artificial intelligence, we have accelerated our quotation processes, making them more transparent and user-friendly. By offering comparative pricing, we empower our customers to make informed decisions effortlessly. This ease of access encourages more individuals to purchase insurance, which should be viewed not just as a document but as a robust plan for the future. An insurance policy chosen at the right moment not only addresses financial losses post-earthquake but also allows individuals to resume their lives with security and confidence. We extend our heartfelt wishes for a swift recovery to all affected by the recent earthquake.”