When most of us think of salvage, vehicles are probably the first things that come to mind. But in reality, large salvage items can include everything from fire damaged heavy equipment, to structures, to items damaged in a hurricane.
The total salvage market is estimated to be valued around $1 billion, but only 5-10% of that inventory is currently being sold. Many insurers view salvage as an afterthought and recovery proceeds are often addressed just before the adjuster closes the file.
But there's more opportunity there than just that. Click through the following pages to learn more about the salvage market.
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