Are all perils included in homeowner's insurance policies?

Homeowner's insurance policies typically do not cover all possible risks, which is why the statement that some risks are excluded is correct. These exclusions can vary based on the insurer and the specifics of the policy, but common exclusions often include natural disasters like floods and earthquakes, intentional damage, and certain types of wear and tear.

Understanding that homeowner's insurance aims to protect against specific, commonly faced risks is essential. The policies generally include coverage for fire, theft, vandalism, and liability; however, unique incidents or particular types of damage may require additional riders or separate policies.

Therefore, it is crucial for homeowners to review their policies to understand what is covered and what is not, ensuring they have adequate coverage for their specific circumstances. This understanding helps in making informed decisions regarding any additional coverage that might be necessary to protect against excluded perils.