Who is NOT eligible for a homeowners policy?

A homeowners policy is designed to provide coverage for individuals who have an ownership interest in a dwelling used for residential purposes. An owner of a home under construction does not yet have a completed structure that can be insured under a standard homeowners policy. The policy typically requires a home to be finished and used as the insured's residence for it to be eligible.

In contrast, the other individuals mentioned are generally eligible for homeowners coverage. Tenants in apartments can obtain rental insurance, which protects their personal property rather than the structure itself. An owner of a vacation home can secure a homeowners policy that covers specific risks associated with homes that are not primary residences. Newlywed couples purchasing their first home can also apply for a homeowners policy as soon as they own a home, even if they are in the process of moving in. Therefore, the correct choice is the owner of a home under construction, as they do not have a completed home eligible for insurance under a standard homeowners policy.