Flood insurance from GEICO covers damage to your house due to flooding. The flood insurance will cover as much as 20% of the value of your home in the event that it is damaged by flooding. It does not cover cosmetic upgrades such as new furniture or carpeting. Also, the coverage is only available for up to 30 days following a flood.
Geico Flood Insurance covers up to 20% a home's worth
Geico flood insurance is a popular choice for homeowners. However, it only covers the flood portion. While the company will cover your home's electrical, plumbing, and air conditioning systems, it won't cover personal belongings or carpeting in the basement. If your home is built on stilts or pilings, it won't be covered.
Flood insurance is particularly important for coastal states, and Geico offers an affordable option. Flood insurance can cover up to 20% of a home's worth in damages from floods. This coverage can also pay for additional living expenses if you are temporarily displaced from your home. In the event of an injury in your home, the company offers up to $2,500 in medical expense options.
It doesn’t cover cosmetic changes to basements
Flood insurance will not cover cosmetic modifications to basements. It does not cover certain other structures such as wells, decks or swimming pools. If you're planning to add any of these structures, you should contact your insurance provider to find out if they are covered.
Try to eliminate water from the basement as a way to reduce your damage. You must first turn off the electricity and gas running through your basement. Before you enter the basement, make sure that your belongings are safe. Then you can salvage as many personal items as possible. You need to do everything you can to minimize the damage, as most of your possessions may not be covered under an NFIP plan.
It doesn't cover new furniture or carpeting
It is important to know what you can expect from flood insurance if you are thinking about getting it for your home. Flood insurance does not cover cosmetic changes like carpeting and new furniture. It doesn't even cover new bathtubs or sinks. Standard homeowners insurance doesn't cover flood damage to trees, plants, decks, or other structures. It also excludes coverage for swimming pools, wells, and hot tubs.
It requires a 30-day waiting period
Standard NFIP policy covers a 30-day wait period for flood insurance policies. There are exceptions. Flood insurance is available to those who live in areas of low or moderate risk. A flood insurance policy may also be purchased as a part of a mortgage.
You can change your existing homeowners insurance policy if you have homeowner's insurance with another company. This will allow you to avoid the 30-day waiting period. In many cases, however, a mortgage company will require that you make changes to your policy or designate your property as a special-risk.