Insurance coverage for second investment property

[Kevin Felger]

Recently bought second long term hold property.  Used bank loan, put money down and financed the rest.  When it came to insurance it was very difficult.  We finally got insurance but it was with the stipulation that we had a signed lease BEFORE we closed on the property and the tenate and all the work would be done before 60 days.  

My sister in law will be moving in, that is how we got the lease signed, otherwise I don't know how it would have worked out.

MY QUESTION: 60 days is coming and because of some setbacks we might not have all of the remodel that we told insurance company ready.  What is worse case if it isn't don't / rented out by that 60 day cut off?

Thanks!