Which of the following reflects typically covered perils under a homeowners policy?

A homeowners policy typically covers risks identified as perils, which are specific events that can cause damage to the insured property. Theft is a commonly covered peril in most homeowners policies. This coverage provides financial protection in the event that personal property is stolen from the home, such as electronics, jewelry, or other valuables.

On the other hand, flooding is generally excluded from standard homeowners insurance policies and often requires separate flood insurance. Earthquake damage is also not typically included in homeowners policies and often requires additional, specialized coverage. Wear and tear is considered a maintenance issue and is not covered because it is not a sudden or accidental event; it is part of normal use and deterioration over time.

Hence, theft stands out as a peril that homeowners policies are designed to protect against, making it the correct answer in this context.