Thread: Just bought a condo in Panama City- Have Homeowner's Insurance Question

Hi All,

I'm looking at purchasing some Homeowner's Insurance- both for the structure itself and for contents. Can someone throw out some ballpark figures for this type of insurance in panama? I don't have a mortgage on my place.

Thanks in advance!

Close to $200 for a condo that's worth around $175k.

Roger, congratulations for your condo purchase. I'm buying too in the next 6-9 months most probably in Cangrejo or Balboa Avenue.

Congrats Roger, where did you purchase?

I read today that the National Assembly of Panama paased a new law that requires developers to provide the number of apartments that have not yet been sold in a building.
Wouldn't this law lower the condo prices when buyers know that very few condos are really sold in a building.
Just a basic rule of economics, higher supply ,lower demand therefore lower price.

Originally Posted by HOSEM1

I read today that the National Assembly of Panama paased a new law that requires developers to provide the number of apartments that have not yet been sold in a building.
Wouldn't this law lower the condo prices when buyers know that very few condos are really sold in a building.
Just a basic rule of economics, higher supply ,lower demand therefore lower price.

I read that on D.W.'s site today: http://www.panama-guide.com/article....10060217303878

I thought that was pretty interesting as well. My question would be in regards to enforcement of disclosure?

Almost NOTHING gets enforced in Panama (as a general rule). Let's keep that in mind...

Matt

EXACTLY!!! You can have ALL the laws in the world but without enforcement they are just words on paper.

I had the same thought that it won't be enforced. Welcome to Panama.

I was told that residence insurance in Panama was a waste of time, because if you make a claim, you will never get the company to pay out.

Comments please, and a good insurance company who does actually pay out would be appreciated.

Tks,
Bill

Call Semusa they are a very good insurance broker who could guide you on who are some of the better companies out there. We are using them for a bond we need.

Thanks for the tip,

Bill