Can i choose the amount i want to insure for?

[John Luczy]

Im looking for help from someone that knows insurance well.  looking through the forms I see there is cash value, and replacement value insurance.  Do you know if there is a way to insure a property for a lesser value that I determine?  ie, if i want to insure a building that has a replacement value of 1,000,000 for 200,000 in a effort to save on premiums?