Is Builders Risk Insurance Necessary for Renovations

[Lance Jeter]

My wife and I have a triplex under contract and once we close, it'll be undergoing a 8-12 week renovation that'll cost about $95,000. Has anyone used a builder's risk policy for renovations? Would I have adequate coverage in the event of a fire or vandalism under a standard landlord policy (likely won't have any tenants on the premises for at least three months). Thanks in advance for your insight!