GEICO flood insurance covers the cost of flood damage to your house. Flood insurance covers up to 20% in flood damage. 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 coverage is a popular option, but it doesn't cover the flood damage. 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.
Geico has an affordable option to flood insurance. Flood insurance can protect up to 20% of the home from flooding-related damages. If you are temporarily evacuated from your home, this coverage may also cover additional living expenses. The company also offers options for up to $2,500 in medical expenses in case someone becomes injured in your home.
It does not cover cosmetic upgrades to basements
Flood insurance does not cover any cosmetic upgrades 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. Turn off any electricity or gas that runs through the basement. Before you enter the basement, make sure that your belongings are safe. Then you can salvage as many personal items as possible. You should do your best to minimize damage as most of your possessions won't be covered by an NFIP policy.
It doesn’t cover new furniture and carpeting.
Knowing what you can and can't expect when you get flood insurance for you home is a must if flooding is a concern. Flood insurance does not cover cosmetic changes like carpeting and 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 also excludes coverage for swimming pools, wells, and hot tubs.
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. A flood insurance policy may also be purchased as a part 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. A mortgage company may require you to make changes to your policy.