Posted by Maria Arias on June 27, 2017 | Real Estate Advices | 0

Homeowners Insurance in Panama

Homeowners insurance in Panama offers protection to your Panama real estate investment. However, you must insure the contents and the building separately.  Fire insurance is available for the structure and Multi Risk policies for the contents. Panama has a large number of options when it comes to Insurance companies.

Panama Fire Insurance policy covers earthquakes, fire,  explosions, windstorms, falling objects, flood & water damages. Daily activities, including cooking, may leave you exposed when it comes to fire risk. Fire insurance policy rates differ depending on the types of construction and the home’s location. Example, wood pay the highest rate and cement building pay the lowest rate. 

Homeowner’s Multi Risk policy provides theft, fire, earthquake, explosives, windstorms & hurricane, smoke & water damage, and floods coverage.  Multi Risk covers the contents while Fire Insurance covers the structures. 

Combined Residential Insurance is the product you want when it comes to guaranteeing the safety of your home. This insurance offers you coverage to the structure of your house, the content in it, Family liability, and includes “To door” assistance. This service provides you with general services, like locksmiths, plumbers, electricians, ambulance and more. 

Normal coverage is limited to “depreciated value” of items insured.  This means older items depreciate in value over time.  This is why saving original purchase receipts for insured items is important in case a claim must be filed.

Residential Mortgage in Panama