As a personal matter, we don’t have renter’s insurance for the following reasons. We live in the western side of the Azuero peninsula. I live in a rural area on a farm overlooking the ocean. My insurance is my dogs outside the gate. It’s pretty dark and it’s a long drive to get to the gates of my farm. I’m not really worried about actual break ins.
I can’t say that there hasn’t been any break ins but they are very rare in this part of Panama.
(Little developed area of the Western Azuero, pictured.)