All of the following are eligible for a Homeowner Policy, EXCEPT:

All of the following are eligible for a Homeowner Policy, EXCEPT:

• A. Renters who maintain resident in any type of building
• B. Dwellings owned by a corporation
• C. Owner-occupants of 1-4 family dwellings
• D. Condominium unit owners

Answer: (B)

A standard Homeowner Policy is intended for private residences owned by individuals or families who live in the dwelling. Renters can obtain coverage through an HO-4 policy, owner-occupants of 1–4 family dwellings can insure their home with a typical homeowners form, and condominium unit owners can use an HO-6. Dwellings owned by a corporation don’t fit this personal-ownership model, so they aren’t eligible for a standard Homeowner Policy and would generally be insured under a commercial or different property policy instead.

A standard Homeowner Policy is intended for private residences owned by individuals or families who live in the dwelling. Renters can obtain coverage through an HO-4 policy, owner-occupants of 1–4 family dwellings can insure their home with a typical homeowners form, and condominium unit owners can use an HO-6. Dwellings owned by a corporation don’t fit this personal-ownership model, so they aren’t eligible for a standard Homeowner Policy and would generally be insured under a commercial or different property policy instead.