salvage
B1CEFR level
30/100Rarity: fairly common
TechnicalRegister
Law noun
The reward payable to those who voluntarily and successfully save maritime property in danger, or the service of doing so.
The tug owners claimed salvage for refloating the grounded tanker before it broke up.
Business noun
The residual value of damaged property that the insurer recovers and sells after settling a total-loss claim.
After paying the write-off, the insurer sold the wrecked car for salvage to offset the loss.
Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.
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