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House Insurance

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cravingsun
  12/12/2014 18:37 EST

Ok I'm trying not to get taken on house insurance so does anyone have someone in Coronado and what type of premiums can I expect? We have a single level detached house.

Thanks for any help you can give.

panamajames
  12/12/2014 21:44 EST

A number of us, over the years, have made the decision that house insurance does not make sense in Panama. All of us have started with it, all of us have had claims, and all claims have been denied. They will come to your house and do an inspection and tell you that it is properly built and take your money. Then when you have a claim, inspectors will come and tell you that your house was not properly built, and deny your claim. Many similar scenarios. You may wish to take your chances on some sort of catastrophic insurance policy, but there is a good possibility that if that should happen to you, they would find a way to deny your claim. Most prevalent, is an insurance agent in Panama City with an American type name. You pays yer money and you takes yer chances. This is not North America........

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jonoyakker
  12/13/2014 08:42 EST

My theory is that these concrete and steel houses aren't going to burn and if the house has been standing intact for awhile it should continue to do so. I didn't give home insurance more than a moments thought.

pollokeeper
  12/13/2014 08:54 EST

I think it is a very good investment to buy at least one decent sized fire extinguisher and keep it in a convenient place in the kitchen. Thats real good insurance for Panama.

panamalady
  12/13/2014 13:34 EST

I do have a policy on my house....covered for 300k with 20k contents.....$483 per year.....Alfredo Reynolds is my agent. He is in Panama City and speaks perfect English...can insure anywhere in country....his number is6681-9593. I just talked with him and he will be leaving tonight for states and return on Jan.11. Very good agent....

pollokeeper
  12/13/2014 13:51 EST

I think it would be interesting to hear from someone who had a loss that was actually covered by their home insurance policy. I mean, someone who was satisfied with the insurance company after a claim was made. Did they pay? At this point I would asume that almost any claim would be denied by most of the insurance company's here no matter the circumstances here in Panama. I would like to be wrong about that.

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Panama2017
  12/13/2014 16:53 EST

I have two insurance policies on my condo through Generali. I have "fire" insurance on the structure because it is a condition of my mortgage. I also have insurance on the contents for my own peace of mind. Guess I will take my chances.

llactivities
  12/13/2014 20:59 EST

What insurance company are you using ? Have you had to make a claim ?

I would think the company - not the broker is the key to having your claims paid or denied.

What companies are there when you need them.?

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