HOME OWNERS INSURANCE
Looking at the latest robberies and events at the Panama Beaches Area and after participating at the meeting on Sunday at Playa Blanca, our concerns and worries are increasing. Many friends, neighbors and clients have approach us for guidance, for that reason J2L Insurance Consultants would like to help: “How to review a Home Owners Package Insurance for Theft and Assault coverage’s for your benefit.”. The Home Owner Package or MultiPackage Insurance (contents) is a group of several coverage's for your belongings, some at 100% as Fire, Flood, Catastrophic Events, Water Damages, Liability, Electrical Equipment and many more values added (Travel Assistance, Emergency Lock expenses, Shelter for pets due to damaged housing, security guard); if you were to buy them separately, it will be very costly. Here we will only concentrate today on Theft and Assault as one of the coverage’s included.
There is one Plan that offers 3 options for Robbery, 25%, 50% or 100% of the Insured Amount.
Our advice is to take advantage of the robbery coverage at 100% since the cost is low and the coverage is at first risk; which means you can have the amount you want at any time. If at some point you will do a more detail count of belongings, or acquire, we can change the amount.
Find bellow a general description of this section, usually to amounts are enough for most regular households; if you feel that you have items of concern or higher numbers, feel free to contact us for further advice:
*Insured Amount (i/a)
|Damage by theft or attempted theft to the building||5% of the insured amount|
|Theft by force and assault within the residence||25%, 50% or 100% of the insured amount|
|Burglary of household items in terraces||B/. 1,500.00|
|Cash theft, by force and assault within the residence||5% of the i/a, B/.300.00 Max.|
|Theft of jewelry, gemstones, watches and precious objects, by force and assault within the residence,||
15% of the insured value, B/.3,000.00 Max.
For capital insured higher than B/.35,000.00 applies, B/.5,000.00 Max
|Theft of compact discs, by force and assault within the residence||5% of the i/a, B/.500.00 Max.|
|Theft by force in annexes (excluding special furniture, jewelry, gems, watches, cash and cash)||3% of the i/a|
|Main insured's credit card theft||B/.250.00 Max. Annual Aggregate|
|Jewelry theft by forcing in financial institution||15% of the i/a, B/.3,000.00 Max.|
|Assault out of home (personal items)||B/.1,000.00 Annual Aggregate (Sub-Limit B/.250.00 for money)|
|Domestic employees fidelity||B/.250.00, B/.500.00 Max. Annual Aggregate|
If you have more than $3,000.00 in jewelry, art or special items, please consider requesting an additional limit.
My first advised is to prepare an inventory of your belongings with:
Detail description and value
Electrical equipment (computer, sound systems, special equipment) ad brand, model and serial number
High price valuables items an appraisal is useful
Always keep receipt
Some security measures required or recommended depending on your address are:
Vault or sefe box
Bars in doors and windows or multilock
How to file a claim?
When you become aware of an event or disaster which may cause damages or losses to assets described in the policy, try to and if possible avoid or diminish the damage, and notify it immediately to your insurance company or J2L INSURANCE CONSULTANTS.
Within ten (10) days subsequent to the date of the disaster, you must file the following documents with the Insurance Company:
• A written report detailing the damages and losses caused to your domicile, detailing the place, date, and approximate hour when it occurred; the probable cause of the disaster and the circumstances in which it was produced.
• A detailed list of any other insurance whatsoever covering any part of your residence.
• You must present receipts, quotes, documents of ownership if possible.
• Certificate from the Firefighters’ Corps Security Office or from SINAPROC
(National Civil Protection System, per its initials in Spanish) depending to the event.
• The insurance company shall make effective any reimbursement or indemnification in a period not greater than thirty (30) days, after the date when the company has received all the required documentation in a satisfactory manner.
Every event is different and we are trying to provide you with a general view of a particular case. Insurance companies may required different documents for different cases.
Hope to be helpful,
J2L INSURANCE CONSULTANTS
Cel. 6206-4523 / 6612-4523