GEICO flood insurance covers the cost of flood damage to your house. In the event of flooding, it covers up 20% of your home's total value. However, the coverage does not include cosmetic improvements such new furniture or carpeting. The coverage cannot be used if there has been a flood for more than 30 days.
Geico's flood insurance covers up to 20% of a home's value
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. It also won't cover your home if it's built on pilings or stilts.
Geico provides affordable flood insurance, which is especially important for coastal areas. Flood insurance can provide coverage for up to 20% in flood damage. If you are temporarily evacuated from your home, this coverage may also cover additional living expenses. If someone is hurt at home, the company can offer up to $2,500 in reimbursements.
It doesn’t cover cosmetic changes to basements
Flood insurance does NOT cover cosmetic changes to basements like new carpet, sinks and bathtubs. It also excludes certain other structures on your property, such as decks, swimming pools, hot tubs, or wells. It is important to check with your insurer if any of these structures will be added.
Try to eliminate water from the basement as a way to reduce your damage. The first step is to turn off any gas or electricity that runs through your basement. Then, check the safety of your belongings before entering the area. Then you can salvage as many personal items as possible. You can take steps to minimize damage since most of the items you own will not be covered by an NFIP Policy.
It does not cover carpeting or new furniture.
Flood insurance is something you should consider if your home is at risk. The first thing to understand is that flood insurance does not cover cosmetic improvements like new furniture and carpeting. It doesn't even cover new bathtubs or sinks. Standard homeowners insurance does NOT cover flood damage to trees, plants, and decks. It doesn't cover hot tubs or swimming pools as well as wells.
It takes a 30 day waiting period
Flood insurance policies are subject to a 30-day waiting policy. This is standard NFIP policy. There are exceptions. Flood insurance can be purchased for people who live near the coast, in areas with low to moderate risk. A flood insurance policy may also be purchased as a part of a mortgage.
If you already have homeowners insurance with a different company, you can avoid the 30-day waiting period by changing your existing policy. However, in many cases, a mortgage company requires a change in your policy, or you have to have your property designated as a special risk.