What Homeowners Insurance does not cover? 
Continued...
Theft by another insured, homeowners insurance will not cover you for a loss caused by a theft committed by another insured person under the policy. This means your policy will not cover you if your nephew (who lives with you) steals a valuable baseball card from the family room. One or two family dwellings, structures that have more than two family dwelling units cannot be covered by homeowners insurance Registered motor vehicles are specifically excluded from personal property coverage. Only vehicles like motorized wheelchairs and lawn mowers, which are not usually registered with the state, are covered by personal property insurance. Your car is also not covered under the "Personal Liability and Medical Payments to Others" sections of your homeowners policy because insurance companies prefer you to insure vehicles with an automobile insurance policy.
Hence, homeowners insurance is a policy covering your home (the structure) and its contents (personal belongings). It can save you from severe financial loss if your home is damaged or destroyed. It covers your family's possessions and can provide you with compensation for liability claims, medical expenses, and other amounts that result from property damage and personal injury suffered by others. Most lenders require homeowners insurance in order to obtain a mortgage. (Collins, Noelle C (1997)
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Think about it! More than ever, quality homeowners insurance is an absolute necessity. Without it, an accident or natural disaster could mean financial ruin to you or your family.
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