There is an online solution to your problem. You can buy 6 months of 203K Renovation Builders Risk coverage at www.buildersrisk.net and download your policy in minutes. There is no credit check to complicate your closing and their policy includes coverage for the existing structure, your building supplies and the increased value due to renovations. They provide coverage in every state except Alaska and Hawaii and they allow you to occupy the property during renovations. Builders risk doesn't provide coverage for your furniture and household contents, but that is available under your current homeowner insurance policy so leave it in place until renovations are complete.) Check it out!
Once the work is complete you can buy a new homeowner insurance policy for your new home.... more