Final answer:
Option 1: Stolen Laptop would be covered under the peril of "theft" in a homeowners policy. Other options like Flood, Earthquake, and Windstorm Damage typically require separate insurance coverage. Homeowners should review their policy for specifics on covered perils.
Step-by-step explanation:
The peril of "theft" in a homeowners policy specifically refers to incidents where property is stolen. Therefore, among the options provided, Option 1: Stolen Laptop would be covered under the peril of theft in a homeowners policy. Flood Damage, Earthquake Damage, and Windstorm Damage, which are Option 2, Option 3, and Option 4 respectively, are typically not covered by standard homeowners policies and often require separate policies or riders.
To further explain, a standard homeowners insurance policy generally includes a variety of coverage for different perils — those are the events that cause damage or loss. Theft is commonly covered, which means that if your personal property, like a laptop, is stolen, you can file a claim to get reimbursed for the loss, subject to the terms and conditions of your specific policy. Meanwhile, events like floods, earthquakes, and windstorms may not be covered unless you have added additional coverage for those specific perils. It's important for homeowners to check with their insurance providers to understand exactly what is covered in their policy.