Buy Rehab Rent - Insurance Questions

[Adam Gagne]

Hello,  I am about to close on a property soon and it requires about $20-25k of rehab before I rent it out.  The rehab required is flooring (carpet/vinyl), sheetrock, finishing bathrooms/kitchen (it was half-rehabbed before I picked it up), light mold remediation, HVAC and maybe some electrical and plumbing.  

I received a 3-month vacant property quote (IR3) for around $1200, which seems really high (when compared to regular insurance).  The policy HO-3, for renting, is around $1600 for a year.  

The dwelling coverage will be for the house will be around $148k.

A few questions:

1. Am I better off buying a builders risk insurance for the rehab and obtain the HO3 policy? Or should I continue with the Vacant property quote (IR3), then move to the HO3?
2. Whats included in a Builders Risk Policy and what type of insurance company provides it?
3. Could you please private message me any recommendations you have for insurance brokers or providers in Houston that deal with investors?

Thank you!