Does the salvage value of a total loss vehicle belong to the owner or the insurance company?

[Aaliyah]

In general, the salvage value of a total loss vehicle belongs to the insurance company; otherwise, the insurance company will deduct the salvage value when compensating. The insurer obtains ownership of the insured vehicle's salvage value under the following two circumstances: In the case of full insurance: After the insurance incident occurs, the insurer pays the full insurance amount, and the entire value of the damaged insured property belongs to the insurer. In the case of insufficient insurance amount: When the insurance amount is lower than the insurance value, the insurer obtains partial rights to the damaged insured property based on the ratio of the insurance amount to the insurance value. Therefore, it is reasonable for the insurance company to assign the salvage value to the vehicle owner. However, if the owner disputes the amount of the salvage value, they can negotiate with the insurance company.