Flood insurance from GEICO covers flood damage to your home. The flood insurance will cover as much as 20% of the value of your home in the event that it is damaged by flooding. However, it doesn't cover cosmetic improvements such as carpeting or new furniture. You must also wait for 30 days after a flood to be eligible for the coverage.
Geico's flood insurance covers up to 20% of a home's value
Geico's flood coverage is a popular option, but it doesn't cover the flood damage. The company covers the plumbing, electrical and HVAC systems within your home. However, it doesn't include personal items or carpeting. If your home is constructed on pilings or stilts it will not 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 does not cover cosmetic upgrades to basements
Flood insurance does NOT cover cosmetic changes to basements like new carpet, sinks and bathtubs. The policy does not cover decks, swimming pool, hot tubs, wells, or other structures. To find out if these structures are covered, contact your insurance provider.
By removing any water from your basement, you can reduce the damage. Turn off any electricity or gas that runs through the 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. Since most of your possessions will not be covered under an NFIP policy, you should take steps to minimize the damage.
It doesn't cover new furniture or carpeting
Flood insurance is something you should consider if your home is at risk. First, you need to know that flood insurance doesn't cover cosmetic improvements such as new furniture or carpeting. It doesn't even cover new bathtubs or sinks. In addition, standard homeowners insurance does not cover flood damage to your trees, plants, or decks. 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. 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 may also be purchased as a part of a mortgage.
By changing your current policy, homeowners insurance that you have with another company can be avoided. A mortgage company may require you to make changes to your policy.