Generally the Renovation Builders Risk coverage is used until you get the Certificate of Occupancy (CO) or shortly after that. 

Keep your insurance, just have them adjust yourautomobile to fewer miles or just comprehensivecoverage.

It’s super cheap insurance for the amount of coverage you get. 

They will also be interested in the debt service coverage ratio (DSCR) with the new proposed debt servicing.

@Mike Mazzucco as the landlord, your policy coverage is the same whether you rent to a tenant or a business.  

I saw some online options on a bigger pockets blog but it doesn't provide fees are a comprehensive comparison. 

Because of this, the best set-up is an LLC with the highest liability coverage you can get plus the highest umbrella coverage you can get. 

The two options that come readily to mind are both Non-QM as a Bank statement loan and DCSR(Debt-Coverage-Service-Ratio) loan. 

There are three possibilities for the difference in claim payment vs repair cost:1. some of the damage is not covered2. they are withholding a portion of the claim payment until you show the work was done (if the coverage is "Replacement Cost" this is often the case on larger losses but normally not on this size)3.

If there is an existing owners policy and the LLC is the named insured, a sale of the membership interests in the LLC will not affect the coverage.