by Frank Grieco » Wed Oct 14, 2009 05:52 pm
How can a carrier defend their right to retain salvage on a homeowners loss --
We have paid the total loss value and want to retain the salvage of the undamaged property
We have paid the total loss value and want to retain the salvage of the undamaged property
Posted: Wed Oct 14, 2009 07:41 pm Post Subject:
I'm not sure I follow you. You are speaking as the carrier right? Wouldn't it depend on the policy contract? If the contract states you have rights to the salvage after paying the loss then there should be no need to "defend" that right. Who are you defending against?
Posted: Wed Oct 14, 2009 11:51 pm Post Subject:
The carrier is paying for the item in it's pre-damaged condition. They are paying for your loss, which is the damaged item. The policy is going to address the carriers right of recovery and of they paid for your loss in the form of replacing the damaged item, they are entitled to the damaged item. If they paid for the replacement of the items _and_ you kept it, you'd be getting even more then what you started with.
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