Panama has very reasonable Homeowners protection to cover the contents of your residence for Fire, Theft, Liability. We cover the building and the contents under separate policies. The policy also provides emergency plumbing, electrical, and locksmith services.
We recommend that you insure a portion of the contents under a homeowner´s multirisk policy. This policy will include coverage for fire, theft, explosion, earthquake, hurricane/windstorm, flood, smoke and water damages. It will also cover your electronic equipment ( % of the basic sum insured); theft ( % of the basic sum insured); assault (up to $250.00 cash); breakage of windows; general liability up to $100,000.00 and ambulance service. Liability coverage is also provided for damage sustained by your neighbors from a fire or water leak originating in your residence.
Claims are paid based on a “depreciated value” of the item insured. I
encourage you to save your receipts/proof of purchase certificates,
in case of a claim.
Coverage:
First Risk Policy 100%
Fire, Explosion and Lightning 100%
Auto-Explosion 80% of damages
Electrical Damages 80% of damages
Impact of falling objects 100%
Impact by vehicles 100%
Sonic Waves 100%
Smoke Damage 100%
Water Damage 100%
Common water damages, filtration and leaks 20% of the basic sum insured
Flood 100%
Earthquake 100%
Windstorm / Hurricane 100%
Debris Removal According to Policy
Uninhability of the residence 15%
Robbery / Break in with force and Assault 50% or 100% of the basic sum insured
Robbery/ Break in with force and Assault For jewelry, 15% of the basic sum insured , up to a maximum of $3,000
Robbery / Break in with force and Assault For cash, 5% of the basic sum insured, Max. $.300.00
Assault outside the premises For personal effects up to $1,000 and up to $250.00 for cash
Breakage of glass or windows 10% of the basic sum insured
Personal Liability, Includes Fire $.100,000.00 L.U.C. Legal Liability
Lost of Luggage $.250.00 each case, Max. $.500.00 Annual Aggregate
Extraordinary Expenses 10%, Max. $.5,000.00
Refrigerated Goods $.500.00 Annual Aggregate
Locksmith Emergency Expenses $.150.00 Annual Aggregate
Electricity Emergency Expenses $.250.00 Annual Aggregate
Civil Commotion / Public riots 100%
Malicious/Intentional Damage 100%
Electronic Equipment 10% of the basic sum insured Max. $.3,000.00
Lock Replacement $.250.00 Annual Aggregate
High ticket items such as paintings, sculptures, antiques, artwork, carpets, and jewelry should be listed separately.
This policy includes a special endorsement extending the Personal Liability to renters, as follows:
1- The policy will cover the damages caused to third parties as a result of the renter’s negligence.
2- The policy will cover bodily injury that the renter may suffer or damages to the renter’s property as a result of the owner’s negligence.
Deductibles:
Earthquake and Windstorm / Hurricane: 2% of the sum insured with a minimum of $250.00
Flood and Water Damage: 1% of the sum insured with a minimum of $.250.00
Common water damage: 1% of the sub-limit for this coverage
Filtration and leaks: 10% of loss with a minimum of $1,000.00
The current premiums for a standard multi-risk policy for a cement dwelling near a major urban area are:
$10,000 is $65.00/yr. + 5%. = $68.25/yr. $20,000 is $130.00/yr. + 5%. = $136.50/yr.
You are entitled to an additional 5% discount if you pay the full premium within 30 days.
Email Kevin: kevin.bradley@unityducruet.com and maria.dunley@unityducruet.com or call Kevin +507-6674-1063 or Carmen +507-6613-1063, if you have questions about the coverage.