What is considered a major cause of loss under a homeowner's insurance policy?

Fire is considered a major cause of loss under a homeowner's insurance policy because it is one of the most common perils for which homeowners seek coverage. When a fire occurs, it can lead to extensive damage to the structure of the home, personal property, and potentially result in loss of use if the home becomes uninhabitable during repairs. Homeowner's insurance policies are specifically designed to include coverage for fire damage, as it poses a significant risk to property owners.

Natural disasters, water damage, and theft can also be significant causes of loss, but they may not be universally covered or may have specific conditions applied. For example, policies might require additional endorsements for certain types of natural disasters, such as flood or earthquake. Water damage might be limited based on the source or type, and theft may have specific limitations or coverage limits within the policy. Thus, fire is directly addressed in standard homeowner's policies, making it a key risk that is consistently covered.