Have primary residence & buy a 2nd using "primary" for best rate

[Kalei Wodehouse]

Aloha, looking for some advice on what I should do...I currently own a home w/ a mortgage that is my primary residence, however I just bought a second home (rental property) but to get a better rate I also check the box for "primary residence."

The 2nd home I just purchased is rented out with full time tenants and I still live at my primary. My primary home has a main home and an additional dwelling unit ( I live in ADU) and rent out main home.

I am concerned because my home insurance for the 2nd home I just purchased is homeowners insurance, not insured as a long term rental property. What if there were to be a fire?.  What do you think I should do?

Are there consequences to having two primary residences? 

If I need to only have one primary, how do I choose which one to live in and why?

Any advice is greatly appreciated!