The good news is, Missouri has a competitive insurance market. Therefore, you should apply for coverage with several companies simultaneously. Otherwise, you may not have enough time to get competitive bids. This grouping of applications also gives you the best chance of avoiding major damage to your credit score. Ask in advance if a company accepts new applicants with recent claims. Preferred companies may not be able to underwrite coverage for individuals with a recent claim. Underwriting varies from carrier to carrier.
Make every effort to get regular coverage, although you may have to pay more than your current policy. The alternatives in Missouri are the MO Property Insurance Placement Facility (FAIRPLAN), which provides a fire policy (no liability) with no more than $200,000 in coverage for your home, and actual cash value (which allows for depreciation) on your contents, or the surplus lines market, which seldom insures any home less than $100,000 and provides very expensive coverage.
If you have a mortgage and your coverage lapses, the finance company or bank may be able to provide insurance and charge you high rates for inadequate coverage; these forced placement contracts only covers its stake in your home's value, not your equity.
