The Importance and Benefits of Car Insurance in Turkey

Vehicle Registration and Insurance Penetration in Turkey

According to the latest data from TurkStat, the total number of vehicles registered for traffic in Turkey has reached an impressive 31 million 976 thousand as of the end of April. Despite this high number, the penetration of car insurance remains relatively low, with only 25 percent of these vehicles being insured.

Emrah Gökmen, the Assistant General Manager of Elementary Individual Insurances at Allianz Turkey, highlights the economic benefits of car insurance, particularly considering the rising costs of damage and maintenance. He states, “Car insurance offers substantial economic advantages through comprehensive assurances against a variety of unexpected situations, from basic risks to natural disasters.“

Allianz Turkey provides easily accessible solutions through various motor insurance packages designed to fit different budgets and requirements. These packages offer protection against unforeseen events, emphasizing comprehensive coverage for risks encountered both while driving and when parked.

Advantages of Motor Insurance

Motor insurance provides significant benefits by safeguarding vehicle owners and their vehicles from unexpected situations, including natural disasters and civil unrest. In a country like Turkey, where vehicle registration numbers have soared to 32 million, the low insurance coverage rate is concerning.

Emrah Gökmen explains that motor insurance offers numerous advantages, especially in light of increasing damage and maintenance costs. “Motor insurance protects against fundamental risks like traffic accidents, collisions, fire, and theft, as well as unexpected events such as natural disasters and social movements. It also covers financial liabilities to third parties, ensuring a safe and peaceful driving experience. Personalized auto insurance solutions designed for every budget provide significant economic benefits for vehicle owners.”

Accessible Solutions for Every Budget and Need

Gökmen emphasizes Allianz Turkey’s commitment to making motor insurance accessible to everyone. They offer a variety of motor insurance packages tailored to different needs and budgets, including mini, eco, comprehensive, electric, and branded motor insurance.

These packages provide comprehensive coverage, such as a widespread service network with over 1000 contracted services across Turkey, 24/7 assistance services like tow trucks and roadside assistance, and a Mini Repair Service for quick and free minor damage repairs. They also cover original glass replacement and unforeseen risks like landslides, storms, and hail.

Regional Variations in Car Insurance Ownership

The ownership rate of car insurance varies significantly across Turkey. In Manisa, it’s only 11 percent, while in Istanbul, it reaches 42 percent. Other regions like Konya, Gaziantep, and Adana have rates of 14 percent, 15 percent, and 19 percent respectively. Increasing car insurance ownership, especially in provinces below the national average, is crucial to extending the comprehensive assurances and benefits offered by car insurance to more vehicle owners.

Turkey’s First Certified Sustainable Motor Insurance

In 2024, Allianz Turkey made strides in sustainability by registering its motor insurance product as a “Sustainable Product” in compliance with the EU Taxonomy criteria, the cornerstone of the European Union’s sustainable finance framework. This initiative led to the introduction of Turkey’s first certified sustainable motor insurance. Allianz Turkey offers rich assistance services and a fast claims process with insurance packages tailored for specific vehicle brands like Ford, Volkswagen, Seat, Skoda, and Fiat. Moreover, they provide assurance against issues in vehicle electronics after hacker attacks with their Electric Vehicle Comprehensive Insurance.

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