What Does Salvage Property Mean?

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What does Salvage Property mean? Read on to discover the definition & meaning of the term Salvage Property - to help you better understand the language used in insurance policies.

Salvage Property

Salvage Property

Asset that is no longer useful for its intended or original purpose but has some value in addition to its scrap value because parts or sections of it may still be recovered and reused.

We hope the you have a better understanding of the meaning of Salvage Property.

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