Which principle states that it is the duty of insured to take reasonable steps to minimise the loss or damage to the insured property?

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Solution

Mitigation principle states that it is the duty of insured to take reasonable steps to minimise the loss or damage to the insured property

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Similar questions

Mention which function explains the following:

It is the duty of the insured to take reasonable steps to minimise the loss or damage to the insured property.

It is the prime responsibility of the insured party to take reasonable steps to minimise loss/damage to the insured property. Name the principle of insurance in this scenario.

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(b) Insured must have some economic interest in the subject matter of Insurance contract.

(d) Insured is entitled to recover the loss suffered by him, up to the limit of policy amount

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