Commercial or Personal Insurance policy

[Stephen Dee]

Hi, 

I have two insurance agents steering me in two directions with my property insurance for a 2 family property. I do not live at the property. One agent told me I need a commercial (business owners) policy for the property because I don't live there. The other said, as long I own the property personally... not a LLC... I can choose a person or Commercial policy. Does anyone have thoughts on which way to go? It is cheaper to go with a Personal policy. Also, what do most people hold for liability coverage? $500,000 or 1,000,000.... or more? I've only got the one property. Any recommendations or input on the subject would be appreciated.

Thanks