Since January of 2006 the Superintendencia de Seguros (legal entity which regulates insurance in Panama) regulated discounts given on car insurance policies to 40% on new – dealership cars and 35% on all used cars for drivers with good records.

Before 2006 some companies gave up to 60% discount which meant some companies offer cheaper premiums than others. After 2006 all companies have rates that vary by a couple of dollars.

What can make a difference on premium prices? The limits you obtain for your car insurance policy. Limits are the maximum amount that you are protected if you cause damage to foreign property or with medical assistance to persons in your car and others.

компютри втора употреба

The minimum limits I recommend are:

Personal Injuries (to thirds) is $10,000 per person and $20,000 per accident.

Property Damage $15,000 per accident

Medical Expense (you and others in your car) is $5,000 per person and $25,000 per accident.

At a person’s request you can lower or increment these limits, but you should be aware that if you cause an accident you are legally responsible to pay for the damages and courts in Panama can take years to solve cases and you could end up without a license and with a big lawyer’s expense if you are not properly protected.

Damage to thirds policies start from $130 a year – but offer low limits and do not protect for medical expenses for the people in your car. For $160-175+ you can get higher limits, medical protection for yourself and others in your car and roadside/legal assistance.

Companies differentiate themselves by offering a great number of benefits such as legal service, discounts, extraterritorial coverage, or towing services – which you should be aware and take advantage of.

To get more information on car insurance or to get a quote, contact our customer service department at forlacol@gmail.com or by phone (507) 6676 5151.

Plan 160:

Payment Options:

Cash

Credit card or bank discount

Conditions:

Applies only to personal autos with up to 15 years of use.

Applies to clients with a good transit record.

Autos with 11 years or more of usage will need to be previously inspected.

Additional Benefits:

Roadside Assistance - 205-0224

Legal assistance in traffic accidents.

Towing service: caused by mechanical damage. Maximum annual benefit $150.00.

Medical emergency service: ambulance service and medical attention in case of an automobile accident, 24 hours a day and 365 days of the year.

Basic roadside assistance includes a jump-start, a tire change, or gas delivery (gasoline costs not included): Up to $150.00 per event, three (3) events a year. Maximum annual benefit of $450.00.

Locksmith for loss or misplacement of keys: Up to $150.00 per event, three (3) events a year. Maximum annual benefit of $450.00.

Transportation to your home because of immobilization of the vehicle (starting from kilometer 25): Up to $100.00 per event, three (3) events per year.

Hotel expenses caused by an accident or breakdown of the vehicle (starting from kilometer 25): Up to $100.00 per event, maximum 5 days per event, three (3) events per year.

Also:

~ Civil responsibility for replacement car

~ Accidental death coverage: $5,000.00 per person, $25,000 per accident

~ Extraterritorial coverage in Costa Rica (up to 7 days)

~ Alarm discounts

Plan 175: *NEW*

Payment Options:

Cash

Credit card or bank discount

Conditions:

Applies only to personal autos with up to 15 years of use.

Applies to clients with a good transit record.

Autos with 11 years or more of usage will need to be previously inspected.

Additional Benefits:

Roadside Assistance - 205-0224

Legal assistance in traffic accidents.

Towing service: caused by mechanical damage. Maximum annual benefit $150.00.

Medical emergency service: ambulance service and medical attention in case of an automobile accident, 24 hours a day and 365 days of the year.

Basic roadside assistance includes a jump-start, a tire change, or gas delivery (gasoline costs not included): Up to $150.00 per event, three (3) events a year. Maximum annual benefit of $450.00.

Locksmith for loss or misplacement of keys: Up to $150.00 per event, three (3) events a year. Maximum annual benefit of $450.00.

Transportation to your home because of immobilization of the vehicle (starting from kilometer 25): Up to $100.00 per event, three (3) events per year.

Hotel expenses caused by an accident or breakdown of the vehicle (starting from kilometer 25): Up to $100.00 per event, maximum 5 days per event, three (3) events per year.

Also:

~ Civil responsibility for replacement car

~ Accidental death coverage: $5,000.00 per person, $25,000 per accident

~ Extraterritorial coverage in Costa Rica (up to 7 days)

~ Alarm discounts

To get more information on car insurance or to get a quote, contact our customer service department at forlacol@gmail.com or by phone (507) 6676 5151.