# Salvage Value

_Glossary_

Canonical: https://www.claimspages.com/learn/glossary/salvage-value/

The residual value of damaged property sold as scrap or rebuildable after a total loss.

When a vehicle is totaled, the insurer may deduct salvage value if the owner keeps the car, or the insurer sells salvage at auction. Title may be branded salvage or rebuilt depending on state.



Insured keeps the totaled truck; payment is ACV minus deductible minus $2,500 retained salvage value.