What is a salvor?
A salvor is a consultant to insurers and risk managers as well as a sales agent. As a consultant, the Sentry Salvage staff assists in inventorying and evaluating stock merchandise involved in an insurance claim. We also act as sales agents when Insurers or Risk Managers need to sell damaged or claimed merchandise.
Does a salvor always sell the stock?
Not always. If the insured wishes to retain stock, then we can often assist in determining the fair market value of the goods. Then the adjuster would deduct this value from the claimed value to arrive at a dollar loss with the insured retaining the goods. This may provide andvantages for both parties in certain circumstances.
What is the salvage recovery?
When we complete the sale of the goods, Sentry Salvage deducts the usual commission and the reasonable time and expenses from the gross sale. The amount remaining is the salvage proceeds and gets remitted to either the insured or the insurance company via wire transfer or check. We can also pay the insured directly and the salvage can net off the claim payment.
What if I need to move stock out of store or warehouse immediately?
Sentry Salvage has significant warehouse space and staff to handle virtually any size job. We also have our own trucks. Therefore, we can respond immediately to the needs of our customers.