If you plan on leasing or selling it, then it is a commercial property - you need landlord insurance, which commonly will cover a vacant property for up to 6-12 months during remodeling/leasing. If the normal companies you would get insurance from won't cover it, contact a real estate insurance broker - they deal with lots of companies and can find several for you - plus give you advice on types of coverage you need as a landlord and what you should require any renter/leasee to carry also.
In our area runs about $500-700/year for vacant but fully secured and lighted/heated house being improved for sale/lease, and more in the $1000+ range for full landlord coverage.
