With the occurrence of a large "Waterspout" in the vicinity of Punta Paitilla/Pacifica on Christmas Day several years ago, I was asked to express an opinion about the coverage available in the average Panama Fire policy.
The insurance company ASSA announced Thursday the signing of an agreement to acquire 100 percent of the operations of American International Group (AIG) in Guatemala, Honduras, El Salvador and Panama.
In Panama Auto policies, the "Liability" or "Responsabilidad Civil" portion protects you for damage that your car does to others…damage for which you are legally liable. This coverage pays for bodily injury that you may cause to other persons, as well as, legal defense, cost of bail bonds, and emergency first aid to others.
Medicare provides coverage in the U.S. and U.S. Territories. Medicare doesn't provide coverage in any other overseas locations.
When using TRICARE For Life in all other overseas locations, whether you live overseas or are traveling overseas, refer to this site:
Accidental Injury or illness in a country far from home can be a very scary experience. If you are without proper health insurance or cannot demonstrate ability to pay at a local hospital, it can mean the difference between life and death. Imagine lying on a stretcher in the hallway, waiting for treatment, while proof of liquidity is confirmed..
Here is an example of Life rates for term insurance in Panama. Yes, they may be higher than you can get online or in the USA, but the benefits will be payable in Panama with less hassle than going back to collect in the country where the policy was issued.
According to a local news source: "Beginning in February, police and traffic inspectors will be testing a technological program to verify the status of a car’s insurance policy and soon reporting an accident will be automated. Traffic cops will enter the license plate number into a mobile unit and the system will indicate if the car has a VALID policy something that is mandatory by law. If the car does not have a current policy it will be TOWED".
Why should I get an appraisal of my home or condo in Panama?
Fire insurance policies have an 80% coinsurance clause that will affect the $$$ amount you receive in the event of a claim for a fire or covered loss. You must insure the property for at least 80% of the actual $$$ value to receive 100% of the amount of total or partial claim.
Although most vehicles sold in Panama do NOT have US specs, you must still consider the import duties when assigning an agreed value to your automobile.
Visit these sites to get an idea of the current value of your vehicle. I use 33102 (Miami) as a Zip Code.
To obtain a custom designed quote after you calculate the $$$ value of your vehicle, email us or call.....Kevin 6674-1063