(i) Doctrine of Subrogation : It implies that after indemnifying the insured for his loss, the insurer becomes entitled to all the rights and remedies relating to the property insured. Doctrine of subrogation is applicable to all contracts of indemnity and is not applicable to life insurance. The insurer can recover only what the insured himself could recover. Subrogation applies only after the insurer has paid the claim to the insured.
(ii) Mitigation of Loss : According to this principle, it is the duty of the insured to take all possible steps to minimise the loss or damage in case of a mishap. The insured should not be careless in the event of any accidental loss just because the property is insured. He should behave like a prudent person and make reasonable efforts to save the insured property.