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Sunday, August 25 2019 @ 10:25 pm EDT

Fire Insurance Coverage for Apartment Contents

Professional Services by Kevin Bradley: Panama has very reasonable Homeowners protection to cover the contents of your residence for Fire, Theft, Liability and more. In Panama, we insure the building and the contents under separate policies. 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 or 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. Fire legal liability is also a provided for damage sustained by your neighbors from a fire originating in your residence. Claims are paid based on a "depreciated value" of the item insured. I encourage you to save your receipts or proof of purchase certificates, in case of a claim. I have had experience where a friendly adjustor will just tell my client to go out and buy the same TV, Radio etc. that was stolen or damaged. The current premium for a $10,000 multi risk policy for a cement dwelling near a major urban area is $65.00/yr. + 5%. $20,000 = $130.00/yr. + 5%.

You are entitled to an additional 5% discount if you pay the full premium within 30 days.

Email Kevin Carmen or call 263-6450, if you have any questions.

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