How can I lower my insurance costs on my home? I feel raped every time I pay my bill.

I only owe $23K on my mortgage. The land is worth $45K. If I sold my home I would only get $80K. Yet, my mortgage company insists that I insure my home for replacement cost of $185K. Don't tell me I'm best off paying $500 per month on insurance. I've already heard that. I want to know which loan company would not require "replacement cost" and be happy with just being paid off and my getting the heck out of here with a little cash in my pocket.