Insurers in Turkiye have received more than 800 claims for damage caused by floods in Istanbul, the country's economic hub, amid the heaviest rainfall in the metropolis in at least 80 years.
The floodwaters swept away hundreds of vehicles. Insurance players say that the flood disaster will be a test for the coverage of electric vehicles.
Mr Ahmet Yasar, the President of the Insurance Association of Turkiye (TSB), sharing the initial damage claim data obtained from the Insurance Information and Monitoring Centre (SBM), told Anadolu Agency, "As of 15 October, there are a total of 838 damage claims in Istanbul under the flood and water damage coverage, including 776 fire-related claims and 62 comprehensive vehicle insurance claims."
He added, "Together with Bursa, Kocaeli, and Yalova, the total number of claims reaches 897. These are just the initial reports. The true extent of the damage will become clearer in the coming days as new claims are received and expert assessments progress."
The deluge began on 13 October, with Istanbul Governor Davut Gul saying that the city recorded its heaviest rainfall in 84 years, with precipitation reaching 261 kg per sq m in the worst-affected areas. The floods have killed at least five people. Experts have warned that urban planning, extensive concrete development, and aging drainage infrastructure have contributed to the floods.
Mr Yasar said, "According to SBM data, there are approximately 940,000 residential and commercial insurance policies in Istanbul. Approximately 710,000 of these are for residences, 208,000 for commercial businesses, and 22,000 for industrial facilities. The shared data shows that the insurance coverage rate, currently in the 17-20% range, indicates the need to extend this protection to a wider segment of the population," said Mr Yasar, emphasising that these policy numbers represent the current level of insurance coverage and do not represent the number of insured individuals affected by the disaster.”
In addition, around 2.8m vehicles in Istanbul have comprehensive insurance policies, and the insurance coverage rate is around 43%. Mr Yasar said, "This situation reveals the importance of expanding insurance coverage for vehicles as well.
The number of electric cars registered in Turkiye rose to 486,359 as of the end of September 2026, up from 14,552 in 2022, according to motor vehicle data released by the Turkish Statistical Institute.