[FL] Switching from owner occupied to tenant occupied -- super stressed out

[Antonio C.]

Hi all, 

We have a rental property which had a HO3 policy with Heritage, we got a good deal with Citizens to swith to tenant occupied. We needed a four point inspection, and when I called the tenant to notify them he said "well, we have a major water leak here now". I headed over and yes, water on the floor and the walls. I ripped out the wet drywall, wet floors and stopped the leak. 

I notified my insurance agent and she said that she's requesting Heritage to update my policy to tenant policy, and according to her this shouldn't trigger a new inspection if we stay with Heritage, we haven't heard back. This is where all my stress is coming in.

My tenants are moving out in 30 days, it will take me about another 30 days to fix it up. 

My stressed induced questions are: 

1. If Heritage does require an inspection, what happens if it take me 30/60 days to complete it.

2. Can Heritage just straight up drop me today because they wouldn't want to switch my policy?

3. Worst case escenario, I do get dropped, is my loan going to get called up? 

I haven't slept in like 4 days thinking about all of this. Am I overreacting?