1 in 3 houses in Istanbul lack earthquake insurance despite looming disaster

The low earthquake insurance rate in Istanbul is concerning despite expectations of a large earthquake in the Marmara region in the coming years. A 6.2 magnitude earthquake hit Istanbul’s western coasts on Wednesday, causing widespread panic.

In the Marmara region, Yalova has the highest earthquake insurance rate at 83%, while Istanbul’s rate stands at 62%, above the national average for Türkiye.

According to a statement from the Disaster and Emergency Management Authority (AFAD), a 6.2 magnitude earthquake occurred in the Sea of Marmara, off the coast of Silivri, at 12:49 p.m. on Wednesday. The earthquake was located on the segment of the North Anatolian Fault Zone that passes through Central Marmara. Following the main quake, several aftershocks were recorded.

The earthquakes have once again brought earthquake insurance into focus. Despite a surge in interest in earthquake insurance following the devastating Kahramanmaras-centered quakes in 2023, a significant number of homes still lack compulsory earthquake insurance.

According to data obtained by Anadolu Agency (AA) from the Natural Disaster Insurance Institution (DASK), Istanbul’s compulsory earthquake insurance rate is 62%, with around 2.6 million policies in effect. Nationwide, the insurance rate is 56%, with Istanbul exceeding the national average.

1 out of 3 houses in Istanbul lack earthquake insurance

Despite the above-average rate in Istanbul, the fact that four out of 10 homes still lack earthquake insurance remains a concern.

Regionally, the Marmara region leads with a 64% insurance rate, while the Black Sea region has the lowest at 45%.

In Marmara, Yalova has the highest insurance rate at 83%, followed by Sakarya at 82% and Tekirdag at 79%. The lowest rate was recorded in Bilecik at 47%.

Citizens can report earthquake-related damages to insured structures by calling DASK’s “ALO 125” Earthquake Insurance Hotline, or by visiting “www.dask.gov.tr” or using the e-Government Portal for easy damage notifications.

DASK, which provides government-backed coverage, insures homes against earthquakes and other disasters directly caused by earthquakes, such as fires, explosions, landslides, and tsunamis.

Since the introduction of the compulsory earthquake insurance system on Sept. 27, 2000, both the institution and insurance companies have continued efforts to raise public awareness about insurance.