Account Closed I assume you also use power of attorney and have a conversation with the owner regarding insurance on the property, too?

For you that means potential fines and for your buyer it could mean a denial of an insurance claim should something happen to the property or a person working on it.

Does anyone have advice on how to navigate the insurance claim to maximize payout?

These will include but not limited to: HML, contractors, title insurance companies, mortgage lender, RE attorneys, and etc...

I think the insurance plan I can rely on for the pension increases my ability to leverage myself without worrying about losing everything as much.

I'm shopping for a new commercial insurance carrier for this.

I'm also super skeptical that you can insure $1,000,000 of building value and get liability insurance for $800.Another thing that makes this hard to analyze is the missing input values, namely repair costs and equity.

I'm in escrow for my first BRRRR right now and it just occurred to me I need to get some insurance. 

Not really sure about what the protocol is when it comes to this, and there's no way I'm contacting my insurance company because I don't want increased premiums.

Insurance companies pay me to do it for them.