Which statement about dwelling policy eligibility is correct?

The statement regarding dwelling policy eligibility that is correct is that a dwelling policy can cover mobile homes under certain conditions. This is an important feature of dwelling policies, as they can provide coverage for properties that may not fit the criteria of traditional homeowners insurance.

In many cases, mobile homes can qualify for coverage if they are anchored to a foundation and meet specific guidelines set by the insurer. This distinction allows policyholders with mobile homes to obtain necessary protection against damages from perils such as fire, theft, and certain natural disasters.

The other statements do not accurately represent the dwelling policy eligibility criteria. For instance, dwelling policies are not limited to being owner-occupied; they can also cover rental properties that are not owner-occupied. Additionally, while single-family dwellings are covered, dwelling policies can also extend to multi-family units and properties classified as two-to-four family dwelling structures. Lastly, coverage can be extended to constructions under development, provided specific conditions are met, thus allowing for more flexibility in the types of properties covered.