The vote also endorsed up to 2,400 homes, but with the state incentive that could turn into up to 3,600 units at the two stations."  

It may not work if your lender needs to have a Replacement cost policy to close the loan.You will need to get an Agreed Value policy to avoid being penalized for being underinsured.If you do not get the Agreed Value endorsement and you have 80% coinsurance (sounds like that what has been quoted), the policy can penalize you proportionally for being underinsured.  

The title agent should be able to issue an endorsement to the policy to change the legal description in the policy. 

Even if you are renting it out in your own name, you need to endorse your homeowners policy to reflect that new use of the building.

I was able to use Traveler's with a home-sharing endorsement. 

I would only endorse a few condotels.

That endorsement doesn't ad much to the home policy at all. 

Janice,I recommend reviewing this with your insurance agent to find out:- will the existing insurance carrier cover the ADU Rental or AirBnB rental- will the policy need to be endorsed or replaced to get the coverage- will the existing policy be able to add the LLC if you set it up- will you have to replace or add a second policy to get it properly covered

After you win the bid, you sign (endorse) the checks so the banks can deposit them. 

If there are other owners in the LLC, a Form 107.9 endorsement may be needed to name the additional insured(s) on the title policy.