What is NOT a common exclusion found in Section 1 of homeowners policies?

Homeowners policies typically outline certain exclusions that specify what is not covered under the policy. Theft is generally considered a covered peril within homeowners insurance, meaning that if theft occurs, the policyholder can file a claim to recover their losses.

On the other hand, losses caused by power failure, flood, and water backup through sewers are common exclusions. Power failure does not usually fall within the scope of coverage because it relates to the failure of the power supply, which is often out of the homeowner's control. Floods typically require separate flood insurance, as they are not covered under standard homeowners policies due to the high risk and potential for large-scale losses. Similarly, water backup through sewers is also excluded from standard coverage, often requiring special endorsements or separate policies to obtain coverage for such scenarios.

Therefore, the correct choice identifies theft as an event that is usually covered by homeowners insurance, distinguishing it from the other listed exclusions. Understanding these coverage details helps homeowners assess the adequacy of their insurance protection.