Panama Equity

PA: +507 320-4310

+507 6103-4617

  • Start Here
  • Panama Properties
    • For Sale
    • For Rent
    • Sell Your Property in Panama
    • Buildings in Panama
    • Panama City Pre-Construction Listings
    • Beach Building Directory
  • Panama Info
    • About Us
    • Guides & Downloads
    • News & Insights
    • List Your Property
    • Property Management in Panama
  • Join Our Team
  • Contact Us
  • Start Here
  • Panama Properties
    • For Sale
    • For Rent
    • Sell Your Property in Panama
    • Buildings in Panama
    • Panama City Pre-Construction Listings
    • Beach Building Directory
  • Panama Info
    • About Us
    • Guides & Downloads
    • News & Insights
    • List Your Property
    • Property Management in Panama
  • Join Our Team
  • Contact Us
  • Start Here
  • Panama Properties
    • For Sale
    • For Rent
    • List Your Property
    • Panama City Building Directory
    • Panama City Pre-Construction Listings
    • Beach Building Directory
  • Panama Real Estate Guides
    • About Us
    • Blog & Guides
      • Panama News & Insights
    • List Your Property
  • Join Our Team
  • Contact Us
  • PA: +507 320-4310
  • WhatsApp +507 6103-4617
  • Start Here
  • Panama Properties
    • For Sale
    • For Rent
    • List Your Property
    • Panama City Building Directory
    • Panama City Pre-Construction Listings
    • Beach Building Directory
  • Panama Real Estate Guides
    • About Us
    • Blog & Guides
      • Panama News & Insights
    • List Your Property
  • Join Our Team
  • Contact Us
  • PA: +507 320-4310
  • WhatsApp +507 6103-4617

Blog

Homeowners-Insurance-in-Panama

Homeowners insurance in Panama: how does it work?

Author

Kent Davis (PJ-0752-09)

Published on

November 17, 2016

Updated on

March 17, 2025

Your new house or condo is an important investment that you’re looking to protect. A homeowners insurance policy can help you get that peace of mind. Whether you are considering purchasing a home in Panama, or already own one, there are several possibilities to insure your home.

Let’s explore the homeowner insurance options available in Panama.

How does homeowners insurance work?

In Panama, insurance companies insure the building (structure) and the contents under separate policies.

The home insurance options range from a standard fire insurance coverage to a multi risk insurance.

The standard Panama fire insurance structure policy includes coverage for fire, explosion, earthquake, windstorm, flood and common water damages. Note that this coverage is required for every mortgage issued from a Panama bank.

If you want to expand your insurance you can do so with a multi risk insurance package. This package consists of separate policies including additional protection against theft and personal / general liability.

Theft coverage is for break in with forced entry, as well as, assault inside and outside the residence. The damage caused to the structure in case of break in with forced entry is covered under this theft provision. Theft and damage to electronic equipment is also part of the package.

Liability coverage extends to damage you may cause to your neighbors property from a fire or water leak initiating in your residence. If a third party is injured on your premises, there is medical payments coverage and legal assistance.

This multi risk residential homeowners package has added benefits including reimbursement for stolen credit cards, locksmith service, plumbing and electrical services in case of a domestic emergency. Some packages include ambulance service, free medical consultation and even coverage for accident or death of pets.

How much does it cost?

The average annual premium for the fire insurance on most structures is approximately 0.01% of the value of the property. For example, a condo or house valued at $200,000 will pay approx. $200/yr.
The average “contents” multi risk package for $20,000 Fire / Theft limit with $100,000 liability protection is less than $100/yr.

Source: (Kevin Bradley)

Kent Davis (PJ-0752-09)

Kent Davis, founder of Panama Equity Real Estate, is a leading expert in Panama’s competitive real estate market. Originally from Honolulu, Hawaii, he holds a Marketing Information Systems degree from James Madison University. After a successful corporate career managing multimillion-dollar inventories at Hajoca Corporation, Kent pursued his dream of living abroad, moving to Panama in 2007.
Driven by an entrepreneurial spirit, he established Panama Equity to connect buyers, sellers, and investors with Panama’s top properties. Known for his transparency, expertise, and market insights, Kent has helped hundreds navigate Panama’s real estate landscape. Fluent in Spanish, he frequently publishes market reports to empower clients with informed decisions.
Beyond real estate, Kent is passionate about Panama’s culture, landscapes, and surf-friendly beaches. He lives in Panama with his wife and three sons, embracing the vibrant lifestyle the country offers.

Share

17 Comments

  1. CAROL FAUBERT

    on August 9, 2020 at 12:34 pm said  

    Good Morning Kent,
    I am a Canadian, living in Vancouver BC, looking at a condo to purchasing. The one I am seriously considering is a 2-bathroom 2,-bedroom, condo in the Playa Caracol area, called the Gardens. It is pre-construction right now, but before purchasing it, I’m looking at all potential costs once the condo ownership is transferred to me.
    You are probably aware, this area is designed to accommodate tourists who prefer to live in a home environment next to all “the action”. I will need insurance, obviously. The risk is high because people are going to live there for “fun” primarily. TO MITIGATE BOTH YOUR RISK AND MINE, IS IT LEGAL in PANAMA, TO CHARGE SHORT TERM TENANTS A REFUNDABLE DAMAGE DEPOSIT? HOW MUCH $ or % can be charged to the tenant? Please tell me about your comprehensive coverage for condominiums located in that area. The one I’m looking at is 93.5 square meters. In Panama, is it customary to provide outside or inside measurements? This is the size they are assigning for this one, although they say that it could change to a larger or smaller size. I have a website. It’s down, due to the pandemic.

    Reply
    • Kent Davis

      on August 10, 2020 at 5:57 pm said  

      Hi Carol, thanks for taking the time to reach out regarding homeowner’s insurance in Panama, specifically for the Playa Caracol unit you are thinking about purchasing. I’ve sent you a private message, the gist of which is: Yes, you can absolutely charge tenants a deposit and there is no regulated amount. Customary is the first months’ rent, however on a vacation rental you may consider a rate based on the number of people, value of the contents, etc. Airbnb has a feature for that purpose. Cheers, Kent.

      Reply
  2. CAROL FAUBERT

    on August 9, 2020 at 12:41 pm said  

    CONDO Coverage, 93.05 meters squared. The GARDENS at Playa Caracol. 2-bedroom, 2 bathroom including furniture and fittings. COST of INSURANCE. and legal amount to charge the tenant as a damage deposit.

    Reply
  3. Matt Wilhelm

    on January 31, 2022 at 2:35 pm said  

    Kent, do you have the names of any insurance companies or recommendations for getting a policy? I can’t find much via google.

    Reply
    • Matthew Marx (PJ-0752-09)

      on February 1, 2022 at 6:23 pm said  

      Hi Matt, The company that I work most closely with is Assa. I’ll get you intro’d privately to the person I’ve been using for quite some time

      Reply
  4. Ramona Gilbert

    on December 31, 2022 at 6:01 pm said  

    Hello Kent, I am interested in obtaining condo insurance for my condo at the Royal Palm. Is there anyone you can connect me with to start the process. Thanks

    Reply
    • Kent Davis

      on January 4, 2023 at 8:55 am said  

      Hi Ramona, absolutely. Stand by! Have sent you that info privately.

      Reply
      • Andrea

        on June 7, 2023 at 1:53 pm said  

        Hello Kent, I am interested in getting a quote for condo insurance in Nueva Gorgona. Do you have any recommendations and/or contact information? Thank you!

        Reply
  5. James

    on January 6, 2023 at 11:03 am said  

    Hi, are you able to recommend a home insurance provider that covers the islands of Bocas del Toro? Many thanks.

    Reply
    • Kent Davis

      on May 16, 2023 at 2:32 pm said  

      Absolutely James, we’ve sent you an email introduction

      Reply
  6. JC

    on February 7, 2024 at 11:20 am said  

    Hello,

    Would you mind also send an introduction for insurance at royal palm please and thank you.

    Reply
  7. Duane

    on March 18, 2024 at 5:53 pm said  

    Hello we have recently purchased a unit at Playa Caracol could you put me in contact with an insurance provider…we are partially mortgaged with banco general

    Reply
  8. john

    on May 18, 2024 at 6:46 am said  

    Hi. Can you get me the introduction as well please Kent. Lookingh for insurance in the Coronado area.

    Reply
  9. Josephine

    on January 31, 2025 at 2:28 pm said  

    Hello,
    I’m looking for a contact for home insurance for Nueva Gorgona as well please.

    Reply
    • Carlos Munoz

      on February 6, 2025 at 10:53 am said  

      Hola Josephine,

      Thank you for checking out our post! My name is Carlos, and I handle rentals and sales in the beach area of Panama, from Punta Chame to Buenaventura, including Gorgona!
      I’ve shared an introduction to my trusted homeowner insurance broker. Please let me know how it goes!

      Reply
  10. CV

    on February 2, 2025 at 9:48 am said  

    This article is from 2016. Have the prices changed since then?

    Reply
    • Kent Davis

      on February 4, 2025 at 1:27 pm said  

      Honestly, not much!

      Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • Portalmar Breaks Ground on Towers 1 and 2: A Major Milestone for Panama’s Caribbean Coast
  • Crypto and Real Estate in Panama: What You Need to Know in 2025
  • 7 Things to Do in San Francisco Panama City
  • Best Beaches in Panama: Caribbean Side
  • What Panama’s Corredor del Caribe Highway Means for You

Recent Comments

  1. Kent Davis (PJ-0752-09) on Panama Real Estate Market Report for Q1 2025: A Market in Transition
  2. Alberto Grajales on Panama Real Estate Market Report for Q1 2025: A Market in Transition
  3. lisa on Furnished ARCADIA Condo for Rent : Ocean & Park Views!
  4. Christopher Powell on Furnished ARCADIA Condo for Rent : Ocean & Park Views!
  5. lisa on Panama’s Pensionado Visa – How to Apply And Actually Qualify

Featured Properties

36
1
Featured
Beach, Homes, Luxury Properties
For Sale
Spanish Mission Villa For Sale in Coronado

Turnkey Spanish Mission Coronado Villa For Sale

Coronado Golf, Camino de los Caballeros, Coronado, Distrito Chame, Panamá Oeste, Panama
Added: May 13, 2024
Bedrooms
4
Bathrooms
5.5
Area
400 m2
For Sale

$780,000

Catherine (PJ-0752-09)
30
1
Featured
Beach, Condos, Luxury Properties
For Sale

Luxury Meets Comfort – Ground Floor Condo For Sale in Buenaventura

Distrito Antón, Coclé, Panama
Added: February 21, 2024
Bedrooms
3
Bathrooms
4.5
Area
335 m2
For Sale

$1,200,000

Avatar photo Ramses PN-4686
18
1
Featured
City, Condos
For Sale

PH DESTINY Condo for Sale on Balboa Avenue – Your Ticket to Stunning Views

Avenida Ecuador, Calidonia, Panamá, Calidonia, Distrito Panamá, Panamá, 0823, Panamá
Added: November 30, 2023
Bedrooms
1
Bathrooms
1.5
Area
96 m2
For Sale

$229,000

Ruben (PN-2946)

Search

Categories

  • Areas
  • Culture
  • Economy
  • Education
  • Exploring & Living in Panama
  • Finance & Banking
  • Food and Shopping
  • Healthcare
  • Immigration & Visa
  • Investment
  • Law
  • Legal – Insurance
  • Lifestyle
  • Panama Blog
  • Politics
  • Pre-Construction
  • Projects
  • Purchasing
  • Renting
  • Reports & Outlook
  • Restaurants
  • Retirement
  • Selling
  • Sports
  • Stay/Hospitality
  • Tax
  • The Panama Real Estate Market
  • Travel & Transportation
  • Work & Business
Follow our Blog

Contact Us

  • Edificio Sortis, Oficina 20th Floot Obarrio, Panama
  • PA. +507 320-4310
  • +507 6103-4617
  • lisa@panamaequity.com

Account Links

  • Log In / Register
  • Log Out
  • Privacy Policy

Real Estate

  • For Sale
  • For Rent
  • List to Sell

Guides

  • Moving Guide
  • Buying Guide
  • Renting Guide
  • Travel Guide

City Locations

  • Panama City
  • Avenida Balboa
  • Casco Viejo
  • Coco Del Mar
  • Costa Del Este
  • El Cangrejo
  • Obarrio
  • Ocean Reef
  • Punta Pacifica
  • San Francisco
  • Santa Maria

Mountain Locations

  • Altos Del Maria
  • El Valle De Anton
  • Sorá

Beach Locations

  • Bocas Del Toro
  • Buenaventura
  • Coronado
  • El Palmar
  • Gorgona
  • Playa Blanca
  • Rio Mar
  • San Carlos

References

  • Luxury Properties
  • Exploring Living in Panama
  • Panama Real Estate Market
  • Food & Shopping
  • Immigration & Visa
  • Panama Politics
  • Restaurants

Panama Insights

Portalmar Breaks Ground on Towers 1 and 2: A Major Milestone for Panama’s Caribbean Coast

Crypto and Real Estate in Panama: What You Need to Know in 2025

7 Things to Do in San Francisco Panama City

Best Beaches in Panama: Caribbean Side

What Panama’s Corredor del Caribe Highway Means for You

Where to Find a Stunning Beachfront Property in Panama

Welcome to Hola Panama: Build Your Network Before You Move!

Why El Cangrejo Might Be the Coolest Neighborhood in Panama City

Panama Equity

Ⓒ 2025 - All Rights Are Reserved

  • enEnglish
    • esEspañol

Owning a home is a keystone of wealth… both financial affluence and emotional security.

Suze Orman
July 13, 2025 Sunday!
Panama Equity
  • Login
Forget Password?