There is also hydrogen bonding between the molecules. The intermolecular forces are so much larger than usual for a molecule of its mass that water is a liquid at room temperature. This means that ponds freeze from the top down, insulating the lower layers, and enabling aquatic life to survive below.
Water reacts in many different ways.
First, consider its acid-base nature. Water causes hydrolysis of covalent halides, phosphorus pentachloride giving phosphoric acid, for example. Second, consider its redox nature. Strong reductants, such as reactive metals, can reduce it to hydrogen gas. Oxidants are rarely able to oxidize it to oxygen, although this does occur with fluorine.