South Florida: Get money out of house with no mortgage/ho ins

[Fred Kite]

my primary residence has no mortgage/debt.  it's worth around $1.5MM with 2/3 of that attributable to land value.

i would like to get as much money as possible out (say $1MM) of the house for investment purposes at as low a cost as possible.

are there any banks/institutions who will write a mortgage where i don't have to buy home owners insurance (the cost is sky high)?

longer term fixed mortgages are preferrable but i can deal with an ARM if that's the only option.

any other options i should look at?