Homeowners Insurance on a House Hack

[Jason A.]

Hello everyone,

I am well into escrow with a 4plex house hack (primary residence) that I am doing. I got two quotes for homeowners insurance. One quote is nearly double the amount than the other quote. I asked the broker why their quote was so high and they said because it is being treated as a rental property and lenders require insurance for rental income. On the surface it makes sense, but why would it be double the premium. Any help or insight on this is appreciated, thank you.

Regards,