Homeowners Insurance Query

[Alex Cabej]

I noticed my hoi coverage is for more than my mortgage on the house.  Before I contact my insurance to lower my coverage and pay a smaller premium, I don't want to sound foolish.  So I want to check first, can my mortgage company mandate that I have coverage for more than the actual amount of the mortgage itself?

I intend to use the savings of smaller coverage to gift to the super.