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. 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 upto 20% of a home’s actual 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 the plumbing, electrical and HVAC systems within your home. However, it doesn't include personal items or carpeting. If your home was built on stilts, pilings, or other supports, the company won't cover it.
Geico provides affordable flood insurance, which is especially important for coastal areas. Flood insurance can cover up to 20% of a home's worth in damages from floods. If you are temporarily forced from your home due to flooding, this coverage can pay for additional living expenses. If someone is hurt at home, the company can offer up to $2,500 in reimbursements.
It does not cover cosmetic upgrades to basements
Flood insurance does NOT cover cosmetic changes to basements like new carpet, sinks and bathtubs. It does not cover certain other structures such as wells, decks or swimming pools. To find out if these structures are covered, contact your insurance provider.
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. Next, ensure that you have checked the safety of your belongings prior to entering the area. 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 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. The first thing you should understand is that flood insurance does no cover cosmetic improvements, such as carpeting or new furniture. It doesn't cover new sinks or bathtubs. Standard homeowners insurance doesn't cover flood damage to trees, plants, decks, or other structures. It does not cover swimming pools, hot tubs, wells, or hot tubs.
There is a 30-day wait period
Flood insurance policies are subject to a 30-day waiting policy. This is standard NFIP policy. However, there are some exceptions. People who live in low or moderate-risk areas can purchase flood insurance without the waiting period. A flood insurance policy can also be purchased in conjunction with a mortgage purchase.
A homeowner's insurance policy with a different company may be canceled after a 30-day wait. 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.