Istanbul's public transport body IETT has concluded a bidding process to provide insurance for passengers using buses, nostalgic trams, funiculars and metrobus system.

Accordingly, up to 201,600 passengers will have the right to claim compensation with insurance against accidents and terror attacks for a year.

In the case of traffic accidents, accident scene reports by traffic police will be sought. In any other type of accident which affects passengers during the trip, or as they get on or off vehicles, the driver's statement will be the determinant.

The insurance deal covers all 2,520 vehicles used by the IETT.

All accidents and terror events that might occur during all stages of the transport service, including waiting at stops, is taken under the scope of the insurance deal.

After the reports prepared by the IETT are transferred to the insurance company, compensation payments will made within five days.

The compensation for deaths and permanent disabilities was determined as 35,000 Turkish liras ($11,200) per passenger, while TL 3,000 ($960) will be paid per passenger for treatment costs.

Statistics show that IETT buses have the least risk of accidents out of all means of transport in Istanbul.

Approximately 747,000 passengers use IETT buses per day, whereas the metrobus system is being used by 890,000 and funiculars are being used by 52,000 passengers per day.

The insurance deal does not cover privately-owned buses (ÖHO), minibuses, metro and tram lines operated by the municipality's Metro Istanbul company and ferries operated by the municipality's City Lines and private ferry operators. The Marmaray system is jointly operated by the Turkish State Railways (TCDD) and Istanbul Metropolitan Municipality (IBB).