Turkey: 73% of vehicles lack voluntary motor cover

Source: Middle East Insurance Review | Feb 2017

Of the 20.8 million vehicles registered in Turkey at the end of last September, almost three quarters (15.2 million or 73%) lacked voluntary insurance against possible theft, traffic accidents or fire.

Vehicle owners, who are obliged to comply with the statutory motor third-party liability insurance, must pay out of their own pocket any loss incurred in the case of theft of their vehicles or an accident caused by their own fault, reported the Insurance Gazette. The vehicles include cars, trucks and motorcycles.

In Turkey, an average of 1.3 million traffic accidents happen every year, according to Turkstat data. “In addition, dozens of car theft cases occur every day, particularly in Istanbul,” said Anadolu Sigorta’s Deputy Chief Executive, Mr Mehmet Metin Oguz.

He said that, in some cities, the number of uninsured vehicles is extremely high due to low incomes as well as lack of insurance awareness.

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