Firm and Insurance Choices

I am looking to start a course in 2017 (yes I know that it still is a way off) but I am curious and well prepared. I am looking at a few different universities which I like the look of but they have slightly different entry requirements. The university that I like the most has a lower entry requirement that I like slightly less.
My question is (provided that I get accepted to both and decide to put these 2 down as my firm and insurance choices), do I put the university that I prefer more as my firm or the university with the higher entry requirement?

You ALWAYS pick your favourite university as firm

Only 8% of applicants end up at their insurance choice - if your firm accepts you then your insurance choice is no longer valid.