Let the insurer's claims counsel figure out the remedy.I don't see that lenders coverage was issued and regardless, it sounds like the tax sale purchaser/lender created or assumed the problem.To me it sounds like this may involve a defect in the original tax sale foreclosure... such as a lack of notice to all interested parties.

It depends on the Insurance Company whether they will write coverage in the Name of an LLC. 

During the period of lapse you have no coverage    - if you let the coverage lapse on 3/1 when does their coverage begin.  2.

That endorsement adds coverage that may cover some of the things that you are worried about but not all. 

The purpose of an umbrella policy is that if someone sues you, and burns through all your coverage available through your normal insurance policy (homeowner's or rental or car or whatever), then the backup-backup option is to use your umbrella policy.

Sub2 transactions soar or crash based on the quality and comprehensiveness of your closing process and documentation.

After 20/25 years you can choose to either take return of premium (get all your money back) or keep the coverage going to age 95.Secondary opinion: term life with living benefits so you can still have the death, critical, chronic, terminal illness riders.

@Dylan Osmon I can’t speak from experience on this issue, but I can speak on other Property and Casualty coverages.

I have  property coverage on each dwelling, the standard Tenant Occupied Dwelling policies.

Pay attention to the coverage.