Flood insurance from GEICO protects your home against flood damage. Flood insurance covers up to 20% in flood damage. However, it doesn't cover cosmetic improvements such as carpeting or new furniture. 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 coverage is a popular option, but it doesn't cover the flood damage. The company covers all aspects of your home including plumbing, electrical, and cooling systems. However, personal items and carpeting in basements are not covered. If your home is constructed on pilings or stilts it will not be covered.
Geico provides affordable flood insurance, which is especially important for coastal areas. Flood insurance may cover up to 20% damage from flooding to a home. If you are temporarily evacuated from your home, this coverage may also cover additional living expenses. You can also get up to $2,500 for medical expenses in the event that someone is injured at your house.
It does not cover cosmetic upgrades to basements
Flood insurance doesn't cover basement cosmetics such as new carpeting, sinks, bathtubs or furniture. It excludes decks and swimming pools as well as hot tubs and wells. If you're planning to add any of these structures, you should contact your insurance provider to find out if they are covered.
You can try to minimize your damage by removing water from the basement. Turn off any electricity or gas that runs through the basement. You should then check that all your belongings are safe before entering the area. 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 does not cover carpeting or 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 also does not cover new bathtubs or sinks. Standard homeowners insurance does not cover flooding damage to your trees, plants or decks. It also excludes coverage of swimming pools and hot tubs.
It is required to wait for 30 days.
Flood insurance policies are subject to a 30-day waiting policy. This is standard NFIP policy. There are some exceptions. Flood insurance can be purchased for people who live near the coast, in areas with low to moderate risk. Flood insurance can be purchased together with a mortgage.
A homeowner's insurance policy with a different company may be canceled after a 30-day wait. In many cases, however, a mortgage company will require that you make changes to your policy or designate your property as a special-risk.