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Does your home insurance cover the quake? Check this clause

Many Panama home policies do not pay for earthquake damage unless they carry a specific endorsement, the business site Nexo found after reviewing the general terms of ASSA, Sura and Mapfre. Separately, the Panamanian Society of Engineers and Architects (SPIA) urged condo boards and owners to have buildings inspected by qualified professionals, even with no visible cracks (Infobae).

What the policies say

We checked ASSA's own general terms for its fire policy; the Sura and Mapfre details are per Nexo.

  • ASSA's basic fire policy excludes earthquake in article 4, even when the quake causes a fire (ASSA). Nexo says Sura's does the same.
  • Cover applies only with the endorsement "incendio y daño directo por terremoto" in the particular conditions.
  • Deductible at ASSA: 2% of the sum insured per item (building, contents) for each 48-hour period, minimum B/.250 on a home and maximum B/.150,000. On a $200,000 home you pay the first $4,000, and aftershocks on later days may count as a new event.
  • ASSA and Sura endorsements exclude storm surge and flooding, even if caused by the quake. ASSA sells sea overflow cover as a separate add-on.
  • Mapfre home insurance includes earthquake, with the same 2% deductible, but excludes it for electronic equipment.
  • Deadlines: notify the insurer right away. ASSA then gives 30 calendar days for the claim report and documents; Nexo puts Sura at 30 and Mapfre at 15.

What engineers advise (SPIA)

  • Older and high-rise buildings deserve priority checks.
  • Warning signs: cracks, spalling or tilting in columns, beams, walls, stairs or slabs. If you see them, leave and stay out until a professional assesses the building.
  • Fire brigades (Bomberos) are starting safety inspections of buildings, schools and hospitals (Telemetro).

What it means for expats

  • Search your policy's particular conditions for the word "terremoto" today. Check the clock on your claim window.
  • If you have a mortgage, ask your bank for a copy of the policy it requires.
  • Condo owners: ask your PH administrator for the common-areas policy and whether an engineer inspection is booked.
  • Photograph damage before repairs and keep every invoice.
  • Renters: your landlord's policy covers the building, not your belongings.

This is general information, not insurance or legal advice. Terms vary by product and policy date, so check your own policy or ask your broker.

Sources

  • ASSA - Fire policy general terms, art. 4, quake endorsement and deductible - checked 11 Oct 2026
  • Nexo - Fire policies exclude quake without endorsement, 2% deductible, claim deadlines - 9 Oct 2026
  • Infobae - SPIA urges building inspections, warns of hidden damage - 10 Oct 2026
  • Telemetro - Bomberos begin structural safety inspections - 10 Oct 2026
  • La Prensa (opinion) - Underinsurance risk for Panama buildings - 10 Aug 2026