1
a
: compensation paid for saving a ship or its cargo from the perils of the sea or for the lives and property rescued in a wreck
b
: the act of saving or rescuing a ship or its cargo
c
: the act of saving or rescuing property in danger (as from fire)
2
a
: property saved from destruction in a calamity (such as a wreck or fire)
b
: something extracted (as from rubbish) as valuable or useful
salvaged; salvaging
: to rescue or save especially from wreckage or ruin
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Merriam-Webster unabridged
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