Insurance Costs Coming in Very High at Close

[Warren West]

I'm in closing with a duplex that will be owner occupied.  Was expecting the insurance premium to be much lower (mortgage broker was estimating $1.2k in paperwork).  Just received some quotes and the yearly premium is just over $3k.  Clearly this is higher than I expected and would really cut into my profits on renting this property.  Is there anything I should consider that could make this lower?

A few details:

• In RI
• 2- 2 bedroom units
• Purchase price is $260k
• Built in 1920