The Turkish insurance market is highly flexible due to its rich history and the variety of local and international insurance companies, including those operating under the participatory (takaful) system that complies with Islamic law. The increasing number of policyholders, whether for mandatory or voluntary insurance, has strengthened the sector. Additionally, the use of advanced automation and artificial intelligence technologies in claims processing and data analysis is a key factor continuously driving market growth.
Types of Insurance in Turkey
Insurance services in Turkey are divided into two main types: mandatory insurance and voluntary insurance, covering individuals, property, and professional liabilities.
First: Mandatory Insurance
- Mandatory Health Insurance:
Covers citizens and legally working foreigners through the Social Security Institution (SGK), including 100% of treatment costs in public hospitals and partial coverage for private medical services. It also includes Health Insurance for foreigners (Yabancı Sağlık Sigortası), required for residency, with premiums determined by age. - Compulsory Earthquake Insurance (DASK):
Following the 1999 Marmara earthquake, home insurance against earthquakes became mandatory, covering structural damages at affordable rates based on the building’s location and size. - Vehicle Insurance (Trafik Sigortası):
Ensures coverage for material and bodily damages to third parties in traffic accidents, with an annual compensation limit.
Second: Voluntary Insurance
- Supplementary Health Insurance:
Covers the difference between treatment costs in private hospitals and what the Social Security Institution (SGK) pays. - Comprehensive Home Insurance:
Includes coverage for fire, theft, natural disasters, and neighbor-related damages, with the option to add extra coverage such as alternative accommodation costs. - Comprehensive Vehicle Insurance (Kasko):
Covers vehicle damages resulting from accidents, theft, or natural disasters, along with benefits like a replacement vehicle and roadside assistance. - Cargo Insurance:
Protects goods during sea, land, or air transport from physical damage, with the option to extend coverage to war-related risks. - Professional Liability Insurance:
Certain professions require special insurance, such as medical malpractice insurance for doctors.
Omran TRK Company and Comprehensive Insurance Services
Omran TRK provides comprehensive insurance services to its clients, including both mandatory and voluntary insurance, by partnering with the leading insurance companies in Turkey. The company offers multiple options to suit all needs, along with free consultations to determine the most suitable coverage for each case.
As a client of Omran TRK, you can access top-quality insurance services that ensure peace of mind and long-term security for you and your family.
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