Travel insurance for Panama: Which option is the best?

Thinking about a trip to Panama? Whether you’re eager to explore the Panama Canal, hike the trails around Barú Volcano, or unwind on the breathtaking beaches of Bocas del Toro, you’re in for an unforgettable adventure. But before you get caught up in booking flights and planning your itinerary, there’s one important detail to consider—making sure you have the right travel insurance for Panama. It’s a small step that can make a big difference in ensuring a smooth and worry-free trip.

Dealing with medical emergencies or lost luggage while traveling can be stressful, especially when you’re far from home. Having a good insurance policy can make all the difference, giving you peace of mind in unexpected situations. We’ve talked about international travel insurance before, but today, we’re focusing on the best options specifically for Panama. Ready to find out how to travel to this beautiful part of Central America with the right coverage? Let’s dive in!

Why take out travel insurance for Panama?

Up until 2017, Panama provided free medical insurance for tourists, covering accidents and illnesses for up to 30 days. However, since this policy was discontinued, travelers now need to arrange their own travel insurance to ensure they have access to quality medical care during their trip.

Panama has a well-functioning public healthcare system, and in cities like Panama City, David, and Santiago, medical care is both accessible and reasonably priced—even for visitors. However, if you find yourself needing medical attention in more remote areas like the San Blas Islands, Bocas del Toro, or Darién National Park, things can get tricky. Healthcare services in these regions are scarce, and in an emergency, you might need to be airlifted or transported by boat, which can come with a hefty price tag—often starting at $5,000.

Travel insurance for Panama isn’t just about medical emergencies—it can also save you a lot of hassle in other unexpected situations. Whether your luggage gets lost during a domestic flight, you’re the victim of theft, you miss a connecting flight, or something else disrupts your plans, the right policy can help cover additional expenses. Some plans even offer assistance with replacing essential documents like your passport, making sure you’re not left stranded in a tough situation.

What should a travel insurance for Panama cover?

If you’ve never purchased travel insurance before, you might have a lot of questions. Will it cover my expenses if my flight gets canceled? How much medical coverage do I actually need? Does every policy include legal assistance? The right coverage depends on your trip, your needs, and the destinations you plan to visit. However, there are a few key things you should always look for when choosing a travel insurance policy.

1. Emergency medical care: Panama City has modern private hospitals that are relatively affordable, but medical bills can add up quickly if complications arise. And if you’re traveling to remote areas like the San Blas Islands or Darién and need medical attention, an air evacuation could cost as much as $10,000. A good travel insurance policy will cover these expenses and ensure you get the care you need.
2. Lost or stolen luggage: Many travelers take advantage of their time in Panama to explore its most popular destinations, which often means taking long-distance buses or other forms of local transportation. During these trips, there’s always a chance your luggage could get lost or even stolen. If that happens, having the right insurance can give you peace of mind by covering some of the costs to replace your belongings.
3. Flight delays and cancellations: If your flight to Bocas del Toro gets canceled or your bus to David is delayed, a good travel insurance policy will cover your accommodation, transportation, and meals. This way, you can keep your trip on track without letting unexpected costs throw off your budget.
4. 24/7 assistance: Panama has rural areas where getting immediate help can be challenging. Having access to assistance at any time, from anywhere, is crucial. Look for an insurance provider that offers support through an app or other electronic means. With these tools and your Holafly eSIM, you’ll be able to get help whenever and wherever you need it.

Important: If you are a frequent traveler and want to stay connected without worrying about expensive roaming or looking for a new SIM at every destination, Holafly’s subscription plans are for you. With a single eSIM, enjoy internet in more than 170 countries for a fixed price and no surprises on your bill. travel without limits and connect easily and securely! 🚀🌍

Comparison of the best travel insurance for Panama

Now that you understand the importance of travel insurance for Panama and the key coverage you’ll need, it’s time to choose the policy that’s right for you. To make your decision easier, we’ve created a comparison table with the top five travel insurance options for Panama in 2025. It includes details on the most important coverage, pricing for a seven-day trip, and other essential info to help you compare your options more clearly.

The 5 best travel insurances for Panama

After going through the comparison table of the best travel insurance options for Panama, you probably have a better idea of your choices. However, before making a final decision, it’s important to dive deeper into what each insurer offers. Let’s take a closer look at their services, coverage, policies, and reputation to help you decide which one best meets your needs.

IATI

With over 135 years of experience, IATI is one of the most well-known insurers in Europe and Latin America. It focuses heavily on personalized service and flexible policies. Travelers who have used their insurance for Panama and other destinations rave about their customer support, available 24/7 in Spanish. They also appreciate the mobile app, which allows users to manage claims, find nearby hospitals, and access online medical consultations.

The IATI Basic plan is ideal for short, low-risk trips to Panama. If you’re planning a more adventurous vacation, the IATI Backpacker plan includes coverage for risky sports and outdoor activities. Their most comprehensive option, the IATI Star, offers the highest level of protection.

Main coverages:

• Medical expenses: From 100,000 euros ($108,000) in the Basic plan up to 5,000,000 euros ($5,398,000) in the Star plan.
• Repatriation: 100% included in all plans.
• Luggage loss: Up to 500 euros ($540) in the Basic plan and up to 2,500 euros ($2,700) in the Star plan.
• Adventure sports coverage: Included in the Backpacker plan. For activities such as rafting, canyoning or skiing, the “Premium Adventure” clause is required.
• Reimbursement for delays: Up to 300 euros ($324) in the Star plan.

Plans and prices (for 7 days):

• IATI Backpacker: 53,99 euros ($58).
• IATI Basic: 32,90 euros ($35).
• IATI Standard: 38,88 euros ($42).
• IATI Star: 70,87 euros ($76).

Chapka

Chapka Insurance, founded in 2002, is a well-known French provider favored by travelers looking for affordable coverage. They offer specialized plans for adventure sports and provide customer support in several languages, including Spanish. One of their main advantages is the simple online registration process, along with an easy-to-use platform. Additionally, their support team is available 24/7.

Chapka offers two policies for Panama. The Cap Trip Basic plan is perfect for those who need essential coverage with basic medical expenses. On the other hand, the Cap Trip Plus plan provides higher coverage for medical costs and baggage.

Main coverages:

• Medical expenses: Up to 250,000 euros ($270,000) on the Cap Trip Plus.
• Repatriation: Included in all plans.
• Luggage loss or theft: Up to 2,500 euros ($2,700) in the Cap Trip Plus.
• Adventure sports coverage: Included in the Cap Adventure.
• Liability: Up to 450,000 euros ($486,000) in the Cap Trip Plus.

Plans and prices (for 7 days):

• Cap Trip Basic: 26,76 euros ($29).
• Cap Trip Plus: 35,59 euros ($38).

AXA Assistance

With operations in over 200 countries, AXA has earned a reputation as one of the most trusted insurance companies worldwide. Their global support network ensures travelers get fast and reliable assistance, even in the most remote locations. AXA is known for its excellent customer service, available 24/7 in Spanish, and its user-friendly mobile app, which allows you to manage claims, access policy documents, and easily find nearby hospitals. With years of experience in handling medical emergencies and repatriations, AXA offers comprehensive coverage for those looking for peace of mind while traveling.

AXA offers a range of plans for Panama to suit various needs. The Mini Insurance is a budget-friendly option with essential coverage, ideal for short trips. The Total Insurance expands on medical and baggage coverage, while the Total Plus Insurance includes added benefits like trip cancellation and coverage for adventure sports, making it a great choice for those with more active travel plans.

Main coverages:

• Medical expenses: Up to 150,000 euros ($162,000) in the Total Insurance plan.
• Repatriation: Unlimited in all plans.
• Loss or theft of luggage: Up to 1,500 euros ($1,622).
• Adventure sports coverage: Available as an additional option in the Total Plus Insurance.
• Liability: Up to 30,000 euros ($32,441).

Plans and prices (for 7 days):

• Mini Insurance: 37,65 euros ($40).
• Total Insurance: 58,07 euros ($62).
• Total Plus Insurance: 80,28 euros ($86).

HeyMondo

HeyMondo has changed the travel insurance game with its digital-first approach. Their mobile app allows you to easily manage claims, get medical consultations online, and quickly access all your policy details. With 24/7 customer support in Spanish. It’s particularly popular among young, digital travelers who prefer a seamless and modern experience when handling their insurance.

This insurer offers several options for those traveling to Panama. The Essential Plan is an affordable choice with basic coverage, perfect for short trips. The Tranquility Plan strikes a balance, offering extensive medical coverage along with protection against delays or lost luggage. For those seeking more comprehensive coverage, the Premium Plan includes adventure sports, trip cancellation, and medical coverage up to 10 million euros.

Main coverages:

• Medical expenses: Up to 10,000,000 euros ($10,796,250) in the Premium plan.
• Repatriation: Unlimited.
• Luggage loss or theft: Up to 3,500 euros ($3,778) in the Premium plan.
• Adventure sports: Included in the most advanced plans.
• Liability: Up to 60,000 euros ($64,883).

Plans and prices (for 7 days):

• Essential Plan: 30,55 euros ($33).
• Tranquility Plan: 35.59 euros ($38).
• Top Plan: 57,18 euros ($62).
• Premium Plan: 76,01 euros ($82).

InterMundial

Founded in 1994, InterMundial is a Spanish insurance company with extensive experience in travel insurance, catering to the needs of all types of travelers. Their customer service is available 24/7 in Spanish, and their digital platform makes it easy to manage claims quickly and efficiently. What sets InterMundial apart from other options is the flexibility of their plans, allowing you to adjust dates and coverage as needed.

The Totaltravel Mini provides essential coverage with a budget-friendly approach. The Totaltravel plan offers more comprehensive coverage, including protection against common travel mishaps. Lastly, the Totaltravel Premium is their most complete plan, offering extensive medical coverage and protection for outdoor activities.

Main coverages:

• Medical expenses: Up to 2,500,000 euros ($2,699,062) in the Premium plan.
• Repatriation: Unlimited in all plans.
• Baggage loss: Up to 3,200 euros ($3,460) in the Premium plan.
• Liability: Up to 100,000 euros ($108,000) in the Premium plan.

Plans and prices (for 7 days):

• Totaltravel Mini: 33,31 euros ($36).
• Totaltravel: 41,74 euros ($45).
• Totaltravel Premium: 65,78 euros ($70).

What is the best travel insurance for Panama?

You’ve probably heard that there are as many types of travelers as there are people. Well, the good news is that there’s travel insurance to meet the needs of every type of traveler. Choosing the right one for your specific situation will depend on the kind of vacation you’re planning, the places you’ll be visiting, how much coverage you need, and of course, your budget.

That said, there is one insurer that stands out when it comes to travel insurance for Panama: IATI. It stands out for its excellent services, quick response times, extensive network of hospitals and clinics in the country, and the positive feedback from travelers who have used their policies to visit Panama. For this specific destination, the IATI Backpacker plan is highly recommended.

What sets the IATI Backpacker plan apart from other policies is its medical coverage of up to 500,000 euros ($540,000), along with repatriation coverage and compensation for lost or stolen luggage (up to $2,700). Plus, its price is among the most competitive on the market when compared to other policies with similar coverage.

By now, you’re probably close to finding the policy that best fits your needs – or at least we hope so. If you need more information to get ready for your trip, be sure to check out our articles on staying connected in Panama or the best VPNs for traveling.

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