A few years back on Christmas day, a large “Waterspout” appeared in the vicinity of Punta Paitilla/Pacifica, I have been asked to express an opinion about the coverage available in the average Panama Fire policy. Driving down Via Brazil that afternoon, I couldn’t believe my eyes as I witnessed a “monster” move near Paitilla. If your policy has “extended coverage”, the “windstorm” optional risk should pay for damages caused by wind (vendaval), Hurricane (Huracan), Tornado, or Waterspout (Tromba Marina). For coverage to protect your property call Carmen 322-1605.
Please read your policy or call your insurance broker to confirm that you have windstorm coverage in your fire policy. The deductible for Vendaval/Windstorm is 2%.
My largest casualty claim occurred several years ago with the destruction of a children’s clothing factory in Panama City. The company manufactured a label for Disney and employed 400+ workers in 2 shifts. A “waterspout” came ashore and settled over the building causing it to implode upon itself. It was a horrible tragedy with several deaths and total devastation. Their fire insurance policy, which included coverage for windstorm coverage, paid in full.