Which of the following is the type of property NOT covered by the homeowners policy?

The correct answer is land on which the property is located. Homeowners insurance typically covers structures and personal property but does not extend coverage to the land itself. This is because the value of land does not change in the same way that structures or personal belongings do. Policies are designed to protect against risks associated with damage to buildings, homes, and personal property, but land is considered a stable asset and therefore is not included in coverage.

In contrast, materials and supplies used for construction, along with attached structures and dwellings, are all encompassed within a homeowners policy. These items can experience damage from various covered perils such as fire, theft, or natural disasters, making them essential components of the insured property. Thus, a homeowners policy is focused on protecting the value of the home and its immediate contents rather than the land itself.