Contents of this guide
Who pays for what
When a trip goes wrong, two different payers are involved. The airline owes a transport service and, depending on the country and route, certain passenger rights. The travel insurance pays what its policy covers, up to the limit for each item. Between the two sits a third zone: costs that neither covers, such as a cause the policy does not include in its conditions or a flight to which no compensation rule applies.
The ASSA Travel website presents four plans per person: Silver, Gold and Platinum for the rest of the world, and a plan for Europe. All four list trip cancellation, trip interruption, a 12 hour trip delay, medical evacuation and baggage. The specific causes that trigger each coverage and the exclusions are set out in the policy’s General Conditions, the document that governs a claim.
The published limits by plan
The ASSA Travel website publishes a limit per item in each plan. The table gathers them as they appear on the insurer’s page. Amounts are in US dollars, except the Europe plan, which uses euros.
| Item | Silver | Gold | Platinum | Europe |
|---|---|---|---|---|
| Trip cancellation | $1,000 | $2,500 | $5,000 | 1,000 euros |
| Trip interruption | $1,000 | $2,500 | $5,000 | 1,000 euros |
| Trip delay (12 hours) | $500 | $1,000 | $2,500 | 500 euros |
| Baggage lost on public transport | $1,000 | $2,000 | $4,000 | 1,500 euros |
| Baggage delay (24 hours) | $100 | $200 | $250 | 100 euros |
| Medical evacuation | $25,000 | $50,000 | $100,000 | 30,000 euros |
Data from the ASSA Travel website read in October 2026. Acceptance age runs from 6 months to 80 years. Limits can be updated, so they should be confirmed with the insurer when quoting.
Two details in the table help with the decision. First, cancellation and interruption share the same limit within each plan, so the amount already paid for the trip (flights, hotel and tours) is the figure to compare with the limit. Second, trip delay starts at 12 hours, according to the website, a threshold well above airline rules, which begin to assist passengers from 2 hours on short flights.
Four scenarios and who answers
The matrix below sorts four common situations. The airline column describes what happens when a passenger rights rule applies, such as the European one explained further down. The insurance column describes the coverage the ASSA Travel website lists, subject to the causes and exclusions in the General Conditions.
| Scenario | Airline | Travel insurance (ASSA Travel) | What to confirm |
|---|---|---|---|
| Illness before departure | Refund or change only if the fare bought allows it | Trip cancellation, up to the plan limit | Whether the cause appears in the General Conditions |
| Illness during the trip | Does not handle medical care | Trip interruption, medical assistance and evacuation, depending on the plan | Call local emergency services first, then the assistance center |
| Flight delayed several hours | Assistance and, if the rule applies, compensation | Trip delay from 12 hours, up to the limit | Whether the delay reaches the 12 hour threshold |
| Flight cancelled by the airline | Refund or alternative transport if the rule applies | Cancellation or interruption, per the conditions | How the airline refund and the insurance payment are coordinated |
In the last scenario the traveler may receive money from two sources for the same event. Policies usually set out what is deducted from what, and that rule is checked in the General Conditions or directly with the insurer before claiming.
What the airline owes in Europe
For flights involving Europe, Regulation (EC) 261/2004 is the reference rule. According to the European Union’s official guide Your rights as an air passenger on the Your Europe portal, the rules cover flights leaving the EU for a non-EU country, on any airline, and flights arriving in the EU from outside when an EU airline operates them. A traveler leaving Panama for Madrid on a non-European airline falls outside the rules on the way out, but inside them on the way back from Madrid.
The same guide gives concrete figures:
| Flight distance | Set compensation | Detail |
|---|---|---|
| Up to 1,500 km | 250 euros | With arrival at the final destination 3 hours or more late |
| From 1,500 to 3,500 km (and over 1,500 km within the EU) | 400 euros | With a delay of 3 hours or more |
| Over 3,500 km to or from a non-EU country | 600 euros | With a delay of 4 hours or more |
According to Your Europe, there is no compensation for a cancellation notified more than 14 days before departure, nor when the delay is due to extraordinary circumstances. The figures may change if the EU reforms the regulation.
The guide adds assistance rights: meals and drinks, two calls or messages and, if the new flight leaves the next day, a hotel and transfers. For cancellations, the passenger chooses once between a refund, alternative transport as soon as possible or alternative transport on a later date. A departure delay of 5 hours or more gives the right to a refund.
These rights are the airline’s responsibility, not the insurer’s. The insurance comes into play for what the airline does not cover: the prepaid hotel that is lost, the non-refundable tour or the 12 hour delay that exceeds the assistance received. For flights within the Americas or to other countries, passenger rights depend on each country’s rules and on the transport contract.
What to check before buying
- Add up what is prepaid. Flights, hotel, tours and non-refundable transfers form the figure compared with the plan’s cancellation limit.
- Read the covered causes. The General Conditions define which events trigger cancellation and interruption; the ASSA Travel website points to that document.
- Note the delay threshold. The website sets trip delay at 12 hours; a shorter delay falls, where applicable, under the airline.
- Review the destination. The website excludes trips to or through Afghanistan, Cuba, the Democratic Republic of the Congo, Iran, Iraq, Sudan, Syria and Liberia.
- Check the age. Acceptance age reaches 80 years; from 71 to 80 the website indicates a 35 % surcharge included in the price and medical coverage at 50 % of the table.
- Keep the paperwork. Bookings, receipts, airline messages and invoices are the basis of any later claim.
ASSA Travel publishes on its website the Silver, Gold, Platinum and Europe plans with their cancellation, interruption, delay and baggage limits. The per-person quote is made on the purchase page.
Common mistakes
Four misunderstandings come up often. First, believing insurance replaces rights against the airline: both coexist and are claimed separately. Second, comparing the limit with the ticket price and forgetting hotel and tours. Third, expecting payment for a delay of 3 or 4 hours, when the insurance threshold published on the website is 12. Fourth, leaving the purchase to the last minute: coverage is contracted before the trip and the General Conditions state from when it applies.
This content is informational and does not replace professional advice or the policy’s General Conditions. Travel insurance in Panama is regulated by the Superintendency of Insurance and Reinsurance, which also handles policyholder complaints. Radar’s guide to health requirements to enter Panama lists insurance among entry requirements, and the one on how the health system works explains why medical cover abroad deserves separate attention.
Frequently asked questions
What does travel insurance cover for cancellation?
It covers, up to the plan limit, prepaid and unrecoverable costs when the trip is cancelled for a cause the policy includes. At ASSA Travel the limit runs from $1,000 in Silver to $5,000 in Platinum, and 1,000 euros in Europe, according to its website.
What is the difference between trip cancellation and trip interruption?
Cancellation happens before departure and interruption once the trip has started. The ASSA Travel website lists both coverages with the same limit within each plan.
After how many hours does insurance pay for a delay?
According to the ASSA Travel website, trip delay is covered from 12 hours, with limits of $500 in Silver, $1,000 in Gold, $2,500 in Platinum and 500 euros in Europe.
Does the airline have to pay if a flight is delayed?
It depends on the route and the applicable rule. On flights leaving the EU, Regulation (EC) 261/2004 requires assistance from 2 hours on short flights and sets compensation of 250, 400 or 600 euros by distance and delay, unless there are extraordinary circumstances.
Can a traveler collect from both the airline and the insurer for the same delay?
It can happen, but each payment covers a different item. Policies usually set what is deducted, so it is confirmed in the General Conditions or with the insurer before claiming.
Related articles
- Vaccines and health requirements to enter Panama
- How Panama’s health system works
- Medical tourism in Panama
Sources
- ASSA Travel Panamá: plans, limits, ages and excluded destinations.
- ASSA Travel, purchase page.
- Your Europe, Your rights as an air passenger: scope, compensation and assistance under Regulation (EC) 261/2004.
- Superintendencia de Seguros y Reaseguros de Panamá, insurance consumer protection.
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