Mitigation
Definition:
Steps taken to reduce further damage after a loss.
Explanation:
Policies require homeowners to act quickly to protect their property from additional harm. Mitigation may include temporary repairs, water extraction, or tarping a roof.
Example:
After a pipe bursts, calling a water mitigation company to dry the home is part of your duty to mitigate.
Why it matters:
This term affects how claims are handled and what payout a homeowner may receive.