Final answer:
Lipids (option 1) are biological compounds known for their non-polarity and insolubility in water, as they are hydrophobic.
Step-by-step explanation:
The biological compounds characterized by non-polarity and insolubility in water are lipids. These compounds are hydrophobic, meaning they fear or repel water due to their non-polar nature, which consists mostly of carbon-carbon and carbon-hydrogen bonds. Lipids include fats, oils, waxes, and other related compounds and play vital roles in long-term energy storage, insulation, and as building blocks for hormones.