For most insurance companies that Geico partners with, the types of insurance coverage described below are included in a standard policy. However, it’s vital to read over a home insurance policy’s terms and conditions before signing, as coverage can vary by the insurance company.
- Dwelling: This type of coverage pays for repairs or rebuilding if your home’s structure is damaged or destroyed. The amount of dwelling coverage should be equal to your home’s appraised value.
- Personal property: This type of coverage pays to replace the contents of your home, such as clothing and furniture. Geico offers a calculator on its website to estimate how much coverage you’ll need.
- Other structures: This type of coverage protects items not attached to the home’s structure, such as a detached garage, shed or fence.
- Additional living expenses: This type of coverage includes hotel stays, meals and other living expenses for the homeowner if you are displaced during covered repairs to your home.
- Medical expenses: This type of coverage will take care of medical bills in the unfortunate event that a guest is injured in your home.
- Liability: This type of coverage includes property damage or bodily injury caused by you or family members living in your home. Personal liability coverage often even covers damages caused by pets.
Additional Coverage
Geico customers have several additional coverage options to personalize their home protection. Note that the exact options for endorsements may vary depending on which provider Geico suggests for you.
Common add-on choices include these:
- Identity theft protection: Many policies offer an option to purchase protection against identity theft. This add-on covers costs if critical pieces of your personal information are stolen, such as your Social Security number or credit card information. This endorsement can cover costs for credit repair services, legal fees, replacement of government IDs and more.
- Scheduled personal property coverage: Most standard policies limit coverage for special pieces of personal property such as musical instruments, jewelry, fine art, furs, antiques and firearms. Choosing additional coverage for them can ensure these items are protected to their full value.
- Water backup: Most standard policies cover sudden, accidental water damage due to burst pipes, broken systems and appliances or wind-driven rain. Water backup coverage covers other types of water damage beyond these conditions, including damage from water trapped in your home due to a clogged drain, seeping groundwater or backed up sewage and sump pumps.
- HOA loss assessment: Homes belonging to a homeowners association, or HOA, are responsible for a portion of damages or losses in common areas. An HOA loss assessment endorsement can protect homeowners against paying those costs out of pocket.
- Replacement cost coverage: Homeowners insurance offers two types of coverage. Actual cost value, or ACV, covers a product for its price after depreciation, which means less money paid out if you need to file a claim. Replacement cost value, or RCV, replaces 100% of the product’s original value. This coverage typically results in a larger sum paid out in the event of an insurance claim.
Remember that any additional coverage you choose to purchase will increase your homeowners insurance rates.
A policy brokered through Geico can also offer you flood insurance, which is particularly helpful for those in coastal states like Florida, California or the Carolinas. The National Flood Insurance Program, managed by FEMA, underwrites flooding policies throughout the United States.
