Flood insurance by GEICO covers your house from the costs of flooding. Flood insurance covers up to 20% in flood damage. However, it does not cover cosmetic improvements like new furniture or carpeting. Additionally, coverage must be applied within 30 days of a flood.
Geico Flood Insurance covers up to 20% a home's worth
Geico's flood insurance, which covers only flood-related damages, is a popular option for home-owners. Although the company covers your home's plumbing, electrical and air conditioning systems, it does not cover personal items or basement carpeting. Your home will not be covered if it was built on pilings and stilts.
Flood insurance is particularly important for coastal states, and Geico offers an affordable option. Flood insurance can protect up to 20% of the home from flooding-related damages. You can also get additional living expenses covered by this policy if you are temporarily relocated. The company also offers options for up to $2,500 in medical expenses in case someone becomes injured in your home.
It doesn’t cover cosmetic changes to basements
Flood insurance does NOT cover cosmetic changes to basements like new carpet, sinks and bathtubs. You are also exempt from certain structures, including decks, hot tubs, swimming pools, and wells. You should check with your insurance provider if you are planning on adding any of these structures.
Water can be removed from your basement to reduce damage. First, turn off all gas and electricity running through your basement. Before you enter the basement, make sure that your belongings are safe. Then, salvage your personal belongings. Since most of your possessions will not be covered under an NFIP policy, you should take steps to minimize the damage.
It does not include carpeting and new furniture.
Knowing what you can and can't expect when you get flood insurance for you home is a must if flooding is a concern. First, you need to know that flood insurance doesn't cover cosmetic improvements such as new furniture or carpeting. It also does not cover new bathtubs or sinks. Standard homeowners insurance will not cover flood damage that occurs to your trees or plants. You are also excluded from coverage for hot tubs, swimming pools, wells and hot tubs.
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 some exceptions. Flood insurance is not required for those who live or work in high-risk areas. Flood insurance can be purchased together with a mortgage.
A homeowner's insurance policy with a different company may be canceled after a 30-day wait. In most cases, however, a mortgage lender will require that your policy be changed or your property declared a special risk.