Subject-to deal, primary residence, how to handle insurance?

[Joe Henry]

I'm looking for guidance on how to handle a live-in subject-2 deal. I don't want to have 2 policies (seller's and mine), and I can't get a non-resident landlord policy because I would be living in the home. Is the best thing to do just get a new policy, with my name as first insured, and cancel the sellers policy? Will the lender care? Or should I talk to the lender first and see if they are cool with that?

Or are there other options I'm not aware of?