Welcome to Kevin Bradley - Insurance in Panama
Sunday, October 21 2018 @ 11:23 PM UTC

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Auto Ins. A Client's View!

Automobile InsuranceThis was posted to the "Altos de Maria" Yahoo Discussion Group

Auto Insurance ... My View
Posted by: "Bob Askew" rtaskew@yahoo.com rtaskew
Wed Dec 12, 2007 9:18 am (PST)

First ... I want to say that I am no expert on auto insurance in Panama; however I am a careful observer, and I have experienced first-hand insurance issues and claims here.

I've been living here full-time (with a car) for over 3 years and have had my cars insured with Kevin Bradley.

Kevin is also a friend; we grew up together in the former Canal Zone. After he went to Texas A&M, he returned to Panama and has been here doing insurance since the early 70's -- first with the US military and Americans working with the canal, and then mostly Panamanians and now he's doing a lot of Expat business.

Me? ... I did a military career, retired and moved back here to live.

Just watching and observing Kevin do business and deal with clients, I have gotten a bit of an insight into how some of this works:

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Panama Auto "Medical Payments" coverage!

Automobile InsuranceIn Panama Auto policies, the "Medical Payments" or "Gastos Medicos" option covers medical expenses incurred by you and your passengers who may be injured in an automobile accident. There may also be coverage, if as a pedestrian, a vehicle causes bodily injury to you or a member of your family. More...
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Panama Auto "Comprehensive" Coverage!

Automobile InsuranceIn Panama Auto policies, the "Comprehensive" or "Comprensivo" option, covers damage to your car caused by something "other than" a collision. This coverage typically includes claims caused by fire, theft, flood, vandalism, explosion, earthquake and falling objects (trees,rocks). More...
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Panama Auto "Collision" Coverage!

Automobile InsuranceIn Panama Auto policies, the "Collision" or "Colision" option is designed to pay for the repair or replacement of the policy owner's vehicle in the event of an accident (collision with another vehicle, tree etc.), no matter who caused the accident. Collision coverage usually requires the payment of a deductible.

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No-Fault in Panama?

Automobile InsuranceIn some states in the USA, Uninsured Motorist property-damage coverage is available. Uninsured Motorist (no-fault) auto coverage would pay for medical bills and pain and suffering if you are hit by an uninsured driver. If your car is crunched by an uninsured driver and you have UM property-damage coverage, you'll be able to get your car fixed under this coverage, rather than using your collision coverage. Generally speaking, UM property-damage coverage carries a lower deductible than collision coverage............

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Check your Drivers License!

Automobile InsuranceIn the Republic of Panama, your Automobile Insurance Coverage is only valid if you are driving with a current/valid drivers license. Please check the expiration date of your license. If you have been in Panama for more than 90 days, your foreign drivers license may not be considered as valid. You must obtain a Panama drivers license if you intend to live here or extend your visit beyond 90 days!

If you lend your vehicle to a friend, make sure they SHOW you their license...check the date of expiration (Fecha de Vencimento). Your friends, children, family etc. are covered, as long as they have your permission to drive the vehicle and a VALID Panama, USA, Canada, International etc. drivers license! I just checked my Panama license, it expires next month!
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Driving in Central America?

Automobile InsuranceThe drive through Mexico and Central America is a wonderful experience, however, it's not an adventure for everyone. The following pages contain advice and detailed accounts of experiences while driving through Mexico and Central America. Check out this siet:

http://www.drivemeloco.com/start.htm

I also recommend:

http://www.sanbornsinsurance.com/
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What is a deductible?

Automobile InsuranceAlthough your Panama insurance policy is in Spanish, a "deducible" is the amount of money which the insured party must pay before the insurance company's own coverage plan begins. It is practical for insurance companies to include a deductible in their policies to avoid paying out benefits on relatively small claims. A typical Panama auto insurance policy, for example, may carry a $500 deductible for "colision". If the owner of that car accidentally hits another car while parking and both drivers agree the damage is minimal, he or she would pay the $500 repair bill out of his or her own pocket. Insurance companies would not encourage a claim for such minor damages.


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Automobile Insurance in Panama

Automobile InsuranceAuto insurance in Panama is similar to coverage issued in the USA/Canada and Europe. Protection for Basic third party liability, Medical payments, Collision and Comprehensive/Fire/Theft are available at very reasonable rates.