Welcome to Kevin Bradley - Insurance in Panama
Saturday, October 21 2017 @ 09:58 AM EDT

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Are you driving illegally in Panama? Do you lend your vehicle to friends or family?

Automobile InsuranceSeveral insurance clients have communicated to me that the Panama Transito police have stopped them for an infraction or at one of the frequent roadblocks and asked them to provide various documents. In some cases, such as failure to produce a "valid" drivers license, the vehicle was impounded!

Are you driving with a "valid drivers license?

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Panama Burial at Sea!

General Panama InfoThis is an article written by Larry Shane, Acting Bocas Warden for the US Embassy in Panama:

You will die. Unfortunately, all of us, presently, do. You should choose the final arrangements for your body, in advance. This is not a burden you should leave to others to decide and handle for you. You likely have personal, religious, cultural, environmental, legal concerns regarding your disposal. Follow your concerns.

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Auto Accident in Panama?

Automobile InsuranceStanding in the middle of the road under the blazing sun or in pouring rain, horns beeping, traffic backing up.......all because you have just had a collision on the streets of Panama! BE PREPARED!

Here the basic procedures to follow after an automobile accident in the Republic of Panama. Based on my experience, interviews with Transito Police and Insurance Company Claims Adjusters, I would like to pass on the following suggestions.

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Texting while Driving Killing More teenagers than DUI

Automobile InsuranceAccording to Angel Reyes, III, of RB&R:

Texting while driving now kills more teenagers than driving while intoxicated. Over 3,000 teens died in 2013 while they tried to send a text message when they were behind the wheel of a car. Approximately 2,700 teenagers died as the result of driving while intoxicated.

The Centers for Disease Control recently conducted a study, in which almost half of teenagers admitted to texting while driving.

Teens who admitted to sending and receiving text messages while behind the wheel also reported engaging in other risky behaviors as well. This includes driving under the influence of alcohol. Teenagers who texted while driving were five times more likely than others to drive after drinking. Young people engaging in the risky behavior were also found to be more likely to not wear seat belts.

In 2011, at least 23 percent of automobile accidents involved cell phones, totaling 1.3 million auto accidents over the course of a single year.

Teenagers are often more...
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How Long Will You Live?

About UsInteresting calculator from Northwest Mutual to give you an idea of how much time you may have left:

http://media.nmfn.com/tnetwork/lifespan/#0
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Panama "Roadside Assistance" Stickers!

Automobile InsuranceMost every company issuing auto insurance in Panama offers emergency roadside attention for accidents and breakdowns.

The purpose of this article is to remind everyone who drives in our very "special" traffic to put the Roadside Assistance stickers on their windshields. If you suffer a mechanical breakdown, flat tire or collision. With the emergency Tel number easily in view, a call to your insurance company's "asistencia vial" service will bring help. Be sure to keep a copy of your auto policy in the vehicle, the company operator will ask for the policy number.

READ MORE and print this article!

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Panama Auto Ins. How to Apply?

Automobile InsuranceWe can cover your new car before you put the key in the ignition! In order to issue an automobile insurance policy, we will need the following information:

1. Year, make, model and $$$ value of vehicle-if you wish full coverage (Proforma Invoice helps).
2. Name of insured (Owner) and additional drivers? Is the policy to be issued in your name or that of a Corp. or Foundation?
3. Car registration, Copy of Passport, Ced, Divers license and residence address.
4. Tel #, Cel#, email address?
5. Vehicle inspection (at our office or ins. company), if it is a used auto. No inspection necessary if vehicle is new.

¨Persona Natural¨ form (if property is in your name) or Persona Juridica form (completed by legal rep. of Corp.). This is an "anti money laundering" form required for every Panama policy with over $300 premium (more bureaucratic BS that must be kept on file in our office) Fill in the sections identified as ¨Datos Generales¨ and ¨Datos Ocupacionales¨ and sign where it says ¨Firma del Cliente¨. We will be glad to help you complete in the form.

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Quoting "Structure" Fire Insurance in Panama!

Fire InsuranceSince we do not insure land, fire insurance is quoted for the "structure" based on the purchase price/appraisal or estimated reconstruction cost. Remember, in Panama we separate structure and contents policies.

The standard Panama "structure" fire insurance policy will usually include coverage for fire, explosion, lightning, earthquake, windstorm, debris removal, flood and water damage, common water damage, filtration and leaks, and other coverage.

In order to obtain a TENTATIVE quote for structure coverage we need:

1. $$$ value of structure (not including land). A recent "avaluo" (appraisal) and pics will help.
2. Name of insured (Owner)? Is the policy to be issued in your name or that of a Corp. or Foundation?
3. Exact address, street and town (name of Condo/Building and apt #). Type of Construction (Cement or Wood)? Rates differ by location (City, Beach, Island or Mountain?)
4. What is the proximity of the property to the ocean or a river?


With this basic information, we should be able to send you an estimate by email or telephone......322-1605, 322,1612
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Quoting Homeowners "Contents" and Liabilty Insurance in Panama!

Fire InsuranceThe homeowner's multi-risk contents package includes all the coverage of a standard fire insurance policy, as well as, personal/general and fire legal liability up to $100,000. The multi-risk package also covers Employers liability (domestic employees) up to $20,000, Liability for Independent contractors and subcontractors up to $20,000 and Medical payments for third parties up to $5,000 per person /maximum of $25,000 in case of an accident in the premises.

This contents package includes coverage for break in with "forced entry" up to insured amount, assault inside and outside the residence; damages caused to the structure in case of break-in with forced entry; $250.00 reimbursement in case your credit card gets stolen; locksmith service in case of a domestic emergency; plumbing and electrical services, as well as many other coverages.

High ticket items such as paintings, sculptures , collectibles, art work and rugs must be listed separately. The inventory should include the make/model/year or description and the $$$ value of the item. Electronic equipment coverage is part of the package up to a specific limit. More expensive electronics should be listed separately.

Here is a tool to help you determine how much "stuff" you own:

http://www.dfs.ny.gov/consumer/homeown/home_invchklst.pdf

In order to obtain a TENTATIVE quote for Muli-risk Homeowners contents coverage (including Liability), we will need:

1. $$$ value of the contents? Furniture, appliances, electronic equipment, artwork, jewelry?
2. Exact address of the residence (name of Condo and apt. #)? Name of the insured...should be issued in your name or name of renter.
3. What security measures does the building/property have? For example.....24 hours security guard, gate at the entrance, intercom, anti-theft alarm, steel doors or bars on windows?
4. Are you planning to rent the property to third parties? A special "renters" endorsement is available.

From this basic information, we will send an estimate by email or telephone...322-1605, 322-1612
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Panama Breakin/Robbery coverage?

Fire InsuranceHere is an extract describing coverage available from a large multinational insurer here in Panama. The coverage is available within a multirisk comprehensive homeowners policy at a very competitive rate:

Robbery with forced entry or/and assault inside the residence (for general contents) 100% of the sum insured
Robbery with forced entry or/and assault inside the residence (for cash) 5% of the sum insured. max $300.00
Robbery with forced entry or/and assault inside the residence (for jewelry and watches) 15% of the sum insured, max $3,000.00
Robbery with forced entry in secondary buildings (guest house, warehouse, de) 3% of the sum insured
Stolen credit cards (applis only for the main insured) max $250.00
Assault outside the residence (for personal effects) max $1,000.00 (limites to $250.00 for cash

Call Carmen 322-1605 or email cdunkley@ducruet.com for a quote.....