Earthquake in Turkey: Half of the Collapsed Buildings are Uninsured
In the 10 provinces severely impacted by the 7.7 and 7.6 magnitude earthquakes in Kahramanmaraş’s Pazarcık and Elbistan districts, where many people were killed and numerous buildings demolished, more than half of all residences did not have earthquake insurance coverage. According to official data from DASK (Natural Disaster Insurance Institution), only 1 million 57 thousand homes out of 2 million 175 thousand had purchased earthquakeinsurance protection – leaving 1 million 118 thousand households uninsured against this devastating natural disaster! Despite standing or being demolished, data reveal that a shocking 48.6% of uninhabitable dwellings do not have any insurance coverage.
Diyarbakir has the Least Insured Building in the Earthquake Affected Region
Data reports that only 113 thousand out of 210 thousand houses in Kahramanmaraş, the earthquake epicenter, possess earthquake insurance. While the insurance rate is 53.8 percent in this province alone, it dwindles to 40.1 percent for Hatay, where much destruction can also be witnessed. Diyarbakir had an abysmal 33.7%, whereas Gaziantep led with 65% coverage; 219 thousand of 339 thousand of homes are insured there!
Out of the total 20 million 32 thousand houses spread throughout Turkey, approximately 10 million 950 thousand had insurance for protection. This resulted in an insurance rate close to 55 percent. In the last two decades, 920 earthquakes have occurred, and it is estimated that a damage payment of 1 billion 446 million lira was made towards 105 thousand insured homes that were ruined or harmed in these events.
Last year, 164 earthquakes took place across the country, and insurance payments of 969 million liras were made to compensate for over 60 thousand homes that sustained damage. On top of this, within the scope of TCIP, a total sum amounting to 183 million liras was dispersed as compensation for 17 thousand 438 houses affected by these seismic activities. 2020 truly marked a record-breaking high in terms of insurance payouts!
Those Who Have Experienced a Similar Disaster Before Are Insured
According to TCIP data, the insurance rate in cities that have been through recent major earthquakes is higher than average. In Bolu – where massive quakes frequently occur – 86.9% of residences are insured; Düzce follows with 86.2%, Yalova at 83.2%, Sakarya at 79%, Van at 71%, Kocaeli at 67.1% and Bingöl at 64%. This number is much greater than the nationwide average of 54.7%. Marmara ranks as the highest insured region with an impressive 63%, followed by Aegean at 56% and Eastern Anatolia at 50.3%. Coming in last is the Black Sea, which has a rate of 46.1%.