Homeowners insurance: What's NOT covered

People often assume that homeowners insurance is a catch-all, covering virtually any event.

Not true, unfortunately. There are many things that a typical homeowners policy does NOT cover. Among them:

• floods
• earthquakes
• breaks in a water line leading to your home
• termites
• stolen pets
• damaged or stolen cars, boats and motorcycles (these would typically be covered, however, by your car/boat/etc. insurance)

Also, here's a list of what IS covered by a typical homeowners policy, as well as add-ons you might want to consider.