Flood Insurance

Flood insurance is a property insurance that protects you against property damage resulting from floods. Normally, a regular homeowners insurance does not cover losses resulting from floods. Paddio Insurance offers flood insurance for people who live in areas designated as flood zones and those who do not. Floods may be caused by hurricanes, snowmelt, clogged sewer drains, and tropical rains. It is important to know if your home or business is in areas prone to flooding to best protect yourself. Pricing may be varied depending on how close your home or business is to a water body, the age of your property and the number of floors.

What does flood insurance cover?

Flood insurance covers the building itself or the personal property inside, or both. Coverage for the building includes:

• The plumbing system and electrical systems
• The building plus its foundation
• Built-in home appliances
• Air conditioning equipment, water heaters and furnaces
• Permanent carpeting on unfinished flooring
• Cooking stoves and refrigerators

Coverage for contents in the house includes:

• Furniture, clothing, and electronic equipment
• Carpeting
• Portable home appliances and air conditioners
• Curtains
• Washing machines and dryers

Replacement Cost Value and Actual Cash Value are the most common compensation plans available. While the former is calculated as the cost of replacing the damaged property of single-family and primary residences that have been insured up to 80% of the property's replacement cost, the latter covers other buildings and personal property. In other words, the Actual Cash Value is the Replacement Cost Value minus physical depreciation at the time of loss.

At Paddio Insurance LLC, our insurance advisors are specialized in providing the most appropriate insurance policies. We are aware that there is not one insurance solution that works for everyone. Therefore, we strive to give you our expert advice and guidance in finding the best possible options to suit your needs.