Panama Travel Insurance Requirements

Last updated: 03/07/2024

Squaremouth’s Panama Travel Insurance Recommendations

For travelers visiting Panama, Squaremouth recommends a comprehensive insurance policy that covers Emergency Medical and Medical Evacuation benefits, as well as Trip Cancellation coverage. Travel Insurance is not required when traveling to Panama, however, many travelers want to protect their trip investment and protect themselves against high medical bills from illness or injury during their trip.

Travelers concerned with Covid-19 while traveling to Panama should purchase a policy with Covid-19 coverage. Most travel insurance providers on Squaremouth.com provide cancellation and medical benefits for contracting the Coronavirus. For all other Covid-related concerns and impacts on travel, including border closures, quarantine restrictions, and fear of contracting the virus, Squaremouth recommends a policy with the Cancel For Any Reason upgrade.

For those travelers who are concerned with needing medical coverage while traveling to Panama, Squaremouth recommends a policy that includes at least $50,000 in Emergency Medical coverage and $100,000 in Medical Evacuation coverage.

Emergency Medical coverage can provide reimbursement if a person becomes ill or injured during their trip. Most policies on Squaremouth.com can also provide coverage for a traveler who contracts Covid-19 and needs medical attention.

Medical Evacuation coverage can reimburse a traveler for expenses related to getting to the nearest adequate medical facility. In some cases, this coverage can also reimburse a traveler for expenses to get home under the guidance and recommendation of a physician.

For those who are traveling to remote areas of Panama or taking a cruise through the Panama Canal, medical treatment and evacuation can be more complicated and expensive. In these situations, Squaremouth recommends at least $100,000 in Emergency Medical coverage and $250,000 in Medical Evacuation coverage.

For travelers who have prepaid or non-refundable trip expenses, Squaremouth recommends Trip Cancellation coverage. This type of coverage can reimburse travelers for insured trip expenses in the event they have to cancel their trip for a covered reason. These reasons typically include unexpected illness or injury prior to departure, and also can include inclement weather, terrorism, and testing positive for Covid-19 prior to departure.

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Panama Travel Insurance Trends and Data

Panama is a popular tourist destination and stop for cruise lines. Many people visit the iconic Panama Canal and experience the rainforest and metropolitan areas the country has to offer.

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Destination Rank: 49

Percentage of Squaremouth Sales: 0.51%

Average Premium: $358.44

Average Trip Cost: $4,583.44

Squaremouth Analytics compares thousands of travel insurance policies purchased pre- and post-pandemic to identify changes and trends in the travel insurance industry.

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Steven Benna, Lead Data Analyst: sbenna@squaremouth.com

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