Flood insurance from GEICO protects your home against flood damage. Flood insurance covers up to 20% in flood damage. It does not cover cosmetic upgrades such as new furniture or carpeting. The coverage cannot be used if there has been a flood for more than 30 days.
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. It also won't cover your home if it's built on pilings or stilts.
Geico provides affordable flood insurance, which is especially important for coastal areas. Flood insurance covers up to 20% for damages caused by floods. You can also get additional living expenses covered by this policy if you are temporarily relocated. You can also get up to $2,500 for medical expenses in the event that someone is injured at your house.
It doesn’t pay for cosmetic improvements to basements
Flood insurance doesn't cover basement cosmetics such as new carpeting, sinks, bathtubs or furniture. 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.
By removing any water from your basement, you can reduce the 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 include new furniture or 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 also does not cover new bathtubs or sinks. Standard homeowners insurance does NOT cover flood damage to trees, plants, and decks. It also excludes coverage for swimming pools, wells, and hot tubs.
It requires a 30-day waiting period
Flood insurance policies have a standard NFIP policy that allows for a 30-day waiting period. However, there are some exceptions. People who live in low or moderate-risk areas can purchase flood insurance without the waiting period. It is also possible to purchase a flood insurance policy in connection with the purchase of a mortgage.
You can skip the 30-day wait period if you have homeowners insurance from another company. In most cases, however, a mortgage lender will require that your policy be changed or your property declared a special risk.