GEICO flood insurance covers the cost of flood damage to your house. It covers up to 20% of the home's value in the event of a flood. However, it doesn't cover cosmetic improvements such as carpeting or new furniture. In addition, you must wait 30 days after a flood before you can use the coverage.
Geico's flood insurance covers up to 20% of a home's value
Geico's flood insurance is a popular option for home owners, but it's important to note that it covers only the flood portion of the damages. The company covers plumbing, electrical, and air conditioning systems inside your home, but it doesn't cover personal items or carpeting in the basement. If your home is built on stilts or pilings, it won't be covered.
Geico offers an affordable option for flood insurance. Flood insurance may cover up to 20% damage from flooding to a home. You can also get additional living expenses covered by this policy if you are temporarily relocated. 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 improvements to basements
Flood insurance does not cover any cosmetic upgrades to basements. You are also exempt from certain structures, including decks, hot tubs, swimming pools, and wells. To find out if these structures are covered, contact your insurance provider.
You can try to minimize your damage by removing water from the basement. Turn off any electricity or gas that runs through the basement. You should then check that all your belongings are safe before entering the area. After that, you can salvage as much personal property as you can. You can take steps to minimize damage since most of the items you own will not be covered by an NFIP Policy.
It doesn't cover new furniture or carpeting
Knowing what you can and can't expect when you get flood insurance for you home is a must if flooding is a concern. Flood insurance does not cover cosmetic changes like carpeting and new furniture. It does not cover sinks and bathtubs. Standard homeowners insurance doesn't cover flood damage to trees, plants, decks, or other structures. It also excludes coverage of swimming pools and hot tubs.
It requires a 30-day waiting period
Standard NFIP policy covers a 30-day wait period for flood insurance policies. However, there are some exceptions. Flood insurance is not required for those who live or work in high-risk areas. You can also purchase flood insurance policies in conjunction with your mortgage purchase.
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. You may need to change your policy or have your property designated as a risk special in some cases.