Which of the following is NOT a right of the mortgagee according to the Mortgagee Clause?

The mortgagee, or lender, is granted certain rights under the Mortgagee Clause in an insurance policy that provides coverage for the property securing the mortgage. These rights typically include the ability to receive notification of policy changes, access to copies of policy renewals, and being compensated for losses incurred as a result of damage to the property.

The option regarding the right to change the coverage amount is not typically a right afforded to the mortgagee. The ability to alter coverage is generally reserved for the policyholder, who has the authority to adjust their policy based on their needs and the lender's requirements. Therefore, the correct answer is that the mortgagee does not have the right to change the coverage amount, which differentiates it from the other rights they possess.

In contrast, receiving notification of policy changes ensures the lender is aware of any alterations that might affect their security interest, while being paid for losses acknowledges their stake in the insurance policy protecting the property. Receiving copies of policy renewals keeps the mortgagee informed about the ongoing coverage status.