Flood insurance from GEICO covers flood damage to your home. It covers up to 20% of the home's value in the event of a flood. However, the coverage does not include cosmetic improvements such new furniture or carpeting. 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 policy is a popular choice for home owners. However, it does not cover flood damages. The company covers plumbing, electrical, and air conditioning systems inside your home, but it doesn't cover personal items or carpeting in the basement. It also won't cover your home if it's built on pilings or stilts.
Geico has an affordable option to flood insurance. 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. In the event of an injury in your home, the company offers up to $2,500 in medical expense options.
It doesn’t cover cosmetic changes to basements
Flood insurance will not cover cosmetic modifications to basements. You are also exempt from certain structures, including decks, hot tubs, swimming pools, and 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. Your basement should be turned off. 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 doesn't cover new furniture or carpeting
Flood insurance is something you should consider if your home is at risk. Flood insurance does not cover cosmetic changes like carpeting and new furniture. It also does not cover new bathtubs or sinks. Standard homeowners insurance will not cover flood damage that occurs to your trees or plants. It doesn't cover hot tubs or swimming pools as well as wells.
There is a 30-day wait period
Flood insurance policies have a standard NFIP policy that allows for a 30-day waiting period. There are some exceptions. Flood insurance can be purchased by people who live in low- or moderate-risk areas without waiting periods. It is also possible to purchase a flood insurance policy in connection with the purchase 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. In many cases, however, a mortgage company will require that you make changes to your policy or designate your property as a special-risk.