Explore the possibility of doing liability insurance instead, if you don't have much equity it may be your best, and much cheaper option.  

For structuring your business, consider whether you actually need an LLC or if umbrella insurance might be a simpler alternative.

If you are trying to get a cash out refi, I would think the bank would want to see the correct type of insurance for the business you are running.

Great Lakes Credit Union HSBC 70%, for premier clients only Huntington 75% LTV Hurst Lending and Insurance Investment property HELOC in Texas.

Cash flow has been hampered by an increase in cost of ownership recently, specifically insurance. 

What about maintenance, taxes, insurance, or setting aside funds for capex?

Simplified ManagementFor those managing multiple properties, AB 2622 streamlines operations by expanding your hiring pool and removing the red tape often associated with minor repairs.Why It Matters for TenantsTenants also benefit from AB 2622:Faster Maintenance: Minor issues like plumbing or lighting can now be resolved promptly.Fairer Move-Out Costs: Affordable repairs mean tenants aren’t hit with inflated charges for damage beyond normal wear and tear.Things to Keep in MindWhile AB 2622 makes maintenance easier, landlords should still vet unlicensed workers carefully, ensure proper insurance coverage, and remember that jobs requiring permits must involve licensed contractors.AB 2622: A Win-Win for California’s Rental MarketAB 2622 strikes a balance between flexibility and accountability, making it easier for landlords to maintain high-quality rentals while fostering better tenant relationships.

As a side note, FDIC insurance protects depositor money, not debt.

You didn't mention the higher Florida insurance costs. 

Here is my two cents: When hiring a contractor for substantial renovations, start by researching local licensed and insured contractors with solid reviews.