Generally, under most homeowner's insurance policies, when an insurance company pays you for the damaged or destroyed object, they are in effect buying that object from you at its value before the loss. Therefore, the object then belongs to the insurance company, to dispose of as they see fit. Sometimes, if they feel there is any salvage value, they will sell it at auction. If of no percieved value to them, they may allow you to keep it, and usually will sell it back to you at the estimated salvate value. This is usually also true for "totaled" vehicles.