It's probably not the first time that homeowners have learned, to their dismay, that there are things that can happen to their homes that their homeowners insurance policies don't cover. "Fire is the basic coverage provided by an insurance policy," Janet Ruiz explains via email. FloodsDamage caused by flooding is excluded under standard homeowners insurance policies, according to the institute's primer on what disasters are covered by insurance. Many of the owners may have been chagrined to discover that their homeowners insurance didn't cover the cost of repairing the harm to their houses. Homeowners policies don't cover damage caused to your home by your neglect of basic maintenance, according to the institute.