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Salvage recovery

What is salvage recovery on a commercial claim?

Salvage recovery is the process of turning damaged but marketable property into a financial return against the loss. It covers evaluating what is recoverable, researching markets, soliciting qualified buyers, managing competitive bids, coordinating removal and logistics, and documenting the final disposition. Identifying salvage opportunities should begin at the loss site, during the inventory.

Recovery turns on two things the inspection establishes: whether a real buyer will pay more than it costs to remove the item, and how quickly it can be marketed. Condition, remaining life, market depth and removal cost are assessed together, because a valuable item in an inaccessible building and a cheap item on a loading dock can reach the same answer for opposite reasons.

Timing is the largest single variable. Property marketed in the first fortnight sells into a live market; the same property after ninety days of storage rarely does. See salvage recovery.

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