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Salvage can be defined as

* property or goods saved from damage or destruction * save from ruin, destruction, or harm * the act of saving goods or property that were in danger of damage or destruction * the act of rescuing a ship or its crew or its cargo from a shipwreck or a fire The meaning of salvage varies according to the context used. Generally the term is used in the context of Insurance Claim.

It means the recovery made by an insurance company by the sale of property which has been taken over from the insured as a part of loss settlement. It can also mean the process of protecting the contents of a building from fire, smoke and water damage. Tools used include salvage covers that are placed over furniture, preventing damage from water and debris.

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17y ago

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