What happens when the owner keeps the salvage of a vehicle?

When the owner keeps the salvage of a vehicle, this situation typically results in a partial loss. A partial loss occurs when a vehicle is damaged but can still have value or utility after repairs or salvage operations. By retaining the salvage, the owner is essentially acknowledging that while the vehicle may not be fully operational or valuable in its entirety, certain parts or the vehicle itself still possess some worth.

The other options don't align with this scenario. Full recovery implies that the owner would regain the entire value of the vehicle, which is not the case when salvage is kept. A total loss refers to situations where the cost of repairing the vehicle exceeds its value, leading to insurance claims that settle the vehicle's value without retaining ownership. A marketable asset would suggest that the salvage is in a condition to sell easily and recover significant value, which may not necessarily be the case depending on the condition of the salvage.