GEICO flood insurance covers the cost of flood damage to your house. Flood insurance can cover up to 20% of the property's value in the case of flooding. However, it does not cover cosmetic improvements like new furniture or carpeting. In addition, you must wait 30 days after a flood before you can use the coverage.
Geico flood insurance covers upto 20% of a home’s actual value
Geico's flood insurance, which covers only flood-related damages, is a popular option for home-owners. 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.
Geico has an affordable option to flood insurance. Flood insurance can provide coverage for up to 20% in flood damage. If you are temporarily forced from your home due to flooding, this coverage can pay for additional living expenses. In the event of an injury in your home, the company offers up to $2,500 in medical expense options.
It doesn't include cosmetic improvements 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. 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. The first step is to turn off any gas or electricity that runs through your basement. Before you enter the basement, make sure that your belongings are safe. 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 and 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 upgrades like new furniture or carpeting. It does not cover sinks and bathtubs. Standard homeowners insurance will not cover flood damage that occurs to your trees or plants. It also excludes coverage of swimming pools and hot tubs.
There is a 30-day wait period
Standard NFIP policies provide a 30-day waiting time for flood insurance policies. There are some exceptions. Flood insurance can be purchased by people who live in low- or moderate-risk areas without waiting periods. A flood insurance policy may also be purchased as a part of a mortgage.
A homeowner's insurance policy with a different company may be canceled after a 30-day wait. In many cases, however, a mortgage company will require that you make changes to your policy or designate your property as a special-risk.