The high renewable-based distributed generation penetration in the islanded microgrid (IMG) can create voltage (V) and frequency (f) rise during off-peak hours. The optimal siting of dump loads (DLs) in the network can absorb this excess generation to avoid transcending of V and f above standard limits. The excess generation can cater to the thermal demands of the IMG locality. The optimal network reconfiguration (ONR) has been used in distribution networks (DNs) to regulate voltage deviations but their complementary action with DL placement has not been analyzed so far. Thus, the present work analyzes the coordinated action of ONR and optimal DL placement in minimizing V and f deviations during excess generation hours in droop-controlled IMGs (DC-IMG). The proposed work has been implemented in standard IEEE DNs modified as DC-IMGs.