Insurance on quadraplex

[Isaac Dunkelberger]

I am living in the Atlanta GA area, and just purchased my first 4plex. I have been shopping around for insurance on the property, but the quotes I am getting from insurance companies have annual premiums between $2700-$4500. They are insistent that the policy be written as a commercial property, with some even requiring a $1million policy on a structure that is worth no more than $350k.

 Has anyone had this same issue? If so, is there a way to get a more affordable rate? I am not sure if this makes a difference, but I will be residing in 1 of the 4 units.