Are you having trouble answering the question “In regard to property insurance, the term “salvage” refers to:”? You don’t have to worry about it anymore. Azanswer team is here with the correct answer to your question.
In regard to property insurance, the term “salvage” refers to:
a. the insurer’s right to require the insured to get three appraisals on the damaged property before paying a claim.
b. the insured’s right to turn over totally damaged property to the insurer and demand payment without the insurer’s consent.
c. the insured’s right to seek damages from a liable third party after collecting on a claim from the insurer.
d. the insurer’s right to take possession of damaged property after payment of a loss.
Answer: D
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