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Fire Insurance policies for structures in the Republic of Panama are similar to those issued in the USA, Canada and Europe. The basic fire policy also includes extended coverage for occurrences other than fire. This may include damage from Explosion, Earthquake, Windstorm, Lightning, Smoke, Flood & Water damage, Falling Objects and Debris Removal after an incident. Here is an example of coverage available from a large Multi-National Underwriter:

Fire / Lightning/Explosion Earthquake
Windstorm / Hurricane Impact of falling objects
Debris Removal Explosion
Esthetic Restoration (5% of the sum insured) Smoke Damage
Alterations, Modifications and Additions Flood and Water Damage
Breakage of glass/windows (Sub-Limit$.30,000.00)
Damages to the structure as a consequence of robbery (5% of sum insured)
Electrical Damages (80% of the sum insured)
Intentional/malicious damage and looting
Common water damages, filtration and leaks (20% of the basic sum insured)


The rates for Fire & Extended Coverage are determined by the type of construction and location. Cement construction pays the lowest rate, composite (cement + wood) will pay a slightly higher premium and wood construction at the highest rate, must be quoted on an individual basis.

Fire/Explosion/Sonic Boom – no deductible
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
Intentional/malicious damage: $250.00 per event

Buildings, houses and Condos located in or around the major urban areas have the most favorable rates. Structures located on islands or other rural areas may be subject to inspection by the insurance company and will pay a special premium.

Call my associate Carmen 322-1605, Kevin 6674-1063 for a customized quote or send an email:

Panama Kevin