Salvage is the recoverable value of damaged property remaining after an insured loss. A claim settlement may account for that value, or the insurer may take ownership of the remains according to the contract. Salvage is different from subrogation, which concerns recovery rights against a responsible third party.
After a loss involving equipment or stock in Nepal, do not sell or discard damaged items without coordinating with the insurer where inspection or ownership rights matter. Record emergency disposal required for safety and preserve evidence where possible. The settlement should explain how salvage value affects the payable amount.