salvage

noun | \ ˈsal-vij \ | sal·vage

1. a : compensation paid for saving a ship or its cargo from the perils of the sea or for recovering it from an actual loss (as in a shipwreck)

   b : damaged property acquired by an insurer after payment for the loss — compare abandonment 1d

   c : the act of saving or rescuing property in danger (as from fire)

2. a : property saved from destruction (as in a wreck or fire)

   b : damaged property acquired by an insurer after payment for the loss — compare abandonment 1d