Insurance 101 – Chapter 10 – Volume 17 – Equitable Salvage

Equitable Salvage

Some policies attempt to cover the right of salvage by making it an option of the insurer to take all or part of the property at the agreed value. Only inland marine policies contain “sue and labor” clauses that require the insured to work to protect the property against loss.

The following video was adapted from my book, “Insurance Claims A Comprehensive Guide” Published by the National Underwriter Company and is available at the Zalma Insurance Claims Library

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The author and publisher disclaim any liability, loss, or risk incurred as a consequence, directly or indirectly, of the use and application of any of the contents of this blog. The information provided is not a substitute for the advice of a competent insurance, legal, or other professional. The Information provided at this site should not be relied on as legal advice. Legal advice cannot be given without full consideration of all relevant information relating to an individual situation.

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