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Salvage is the right but not an obligation for the insurance comapny.  In total loss situations, if there is some value in the materials of the destroyed property, the insurer can exercise its right to salvage.

In partial loss situations, the insurer can also exercise its right to salvage by paying the amount for a total loss, taking possession of the property, and recovering the salvage value (which might consist of material values and undamaged parts that can be sol to others).  

Exercising the right to salvage in partial loss situations makes sense when it would be more expensive to repair the property.  If damaged property has little or no salvage value, the insurance company will not exercise this option.

TELL ME YOU ARE NOT PRINTING YOUR REPAIRS...

Posted 2:02 PM  View Comments

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