Approximately 11.5 million of the 20.3 million households across Turkiye have compulsory earthquake insurance, representing an insurance coverage rate of 57.4%, according to data from the Turkiye Catastrophe Insurance Pool (TCIP), Middle East Insurance Review writes.

It is noted that the coverage rate is considered inadequate in a country located in an earthquake zone. According to TCIP’s 2024 annual report, as of the end of 2024, the number of insured residences across the country reached 11.2 million, with a penetration rate of 56%.

At the same time, interest in compulsory earthquake insurance has increased following the Sindirgi earthquake on 10 August, as well as expectations of a potential massive Istanbul earthquake.

In the 26 years since the Marmara Earthquake in 1999, Turkiye has faced numerous earthquakes, both large and small, including the devastating 6 February 2023 Kahramanmaras Earthquake and the earthquake off the coast of Istanbul on 23 April 2025.

Claims paid by TCIP since its establishment in 1999 have reached TRY 41 billion (USD 1 billion). The largest portion (TRY 39.3 billion) consisted of claims paid after the 2023 Kahramanmaras earthquakes.

As of the end of August 2025, the overall policy renewal rate is expected to be 60%, and to increase the motivation to renew coverage, a 20% renewal discount is being offered. This aims to both ensure the sustainability of insurance coverage and continued financial security for citizens, the source added.