Questions about insurance on a triplex!

[Jeremy G.]

Hi everyone!

I currently have a triplex under contract im trying to find an affordable home owners insurance policy, the current owner does not occupy the building and he pays approximately $1750/year for insurance. I will be owner occupying but ive gotten 4 different quotes all of them are for around $2600/year??? they insist they must insure the property for full replacement costs of around $400k 

I thought owner occupant insurance would be cheaper than landlord insurance? these quotes are outrageous.. my mortgage broker estimated my monthly mortgage on a $1200/year insurance policy, so everything isd telling me insurance should not be 2600/year but those are the quotes im receiving, any ideas? or suggestions?