Insurance salvage refers to the process of recovering and selling damaged property after an insurance claim has been paid. When an insured item, such as a vehicle or home, is deemed a total loss, the insurance company may take possession of the damaged property. This allows them to recoup some of their costs by selling the salvageable parts or materials. The salvage process typically involves assessing the value of the damaged item and determining what can be repaired or reused. Salvaged items can be sold at auctions or through salvage yards, providing a way for insurers to recover funds while also offering affordable options for buyers looking for parts or materials.