Insurance awareness in Turkey: Example of Trabzon province

Insurance is one of the options to secure themselves and their property as a result of the payments made by the people before the damage occurs in order to compensate the damage in response to all kinds of dangers and risks that are likely to be experienced in the future. Although the insurance sector has developed in Turkey, it has not reached the expected level yet. One of the most important reasons for this situation is the insufficient level of insurance awareness in society. In this study, by giving general information for the insurance sector, which what level of insurance awareness in Turkey that has tried to be analyzed through a field survey conducted in Trabzon. The insurance awareness level of the participants was analyzed by examining the survey data applied to 389 people living in the city of Trabzon. As a result of the research, it is understood that most of the participants do not have information about the policy coverage. While choosing the insurance company, women pay attention to ensuring appropriate payment terms, while men give importance to the familiarity of the agency company. Most of the people reported that they would consider taking out insurance when their financial situation improves and premiums are lower. Considering the private insurance types that the participants have, compulsory traffic insurance and compulsory earthquake insurance were preferred more than other private insurance types.