what exactly does it mean and how does it affect things? what about reconditioned titles? salvage means the insurance company wrote it off as a total loss (repairs cost more than value of vehicle)?

don't know about reconditioned but salvage is as you suspected. Means some people wont buy them (I wouldn't, unless it was for a race bike) and some insurance companies wont insure them, I've heard.

You never know if the bike was dropped and scratched beyond what the bike was worth or if it was in a bad crash...there may be unseen damage with a bike that has salvage title.

try to stay away from them but it also isn't that bad in some cases....basicly it means that the bike was crashed pretty bad or a little but it wasn't fixed buy a mecanich...the insurance took the bike or car and sold it to a junkyard in most cases...

my friend bought a car with a salvage title because it was in a accident and the frame bent a little....everything else is good on the car and the frame was fixed and runs great now....

what are the drawbacks of owning a salvage vehicle? is it just that there might be unseen damage or are there others things as well (insurance go up?)?

A salvage title can mean different things. It can be a theft recovered bike that was never claimed. The tow yard gets a salvage certificate then goes to the DMV and gets the salvage title ( after they inspect it..check numbers etc)..

The bike may have had alot of damage or often purely cosmetic damage that was so expensive they totalled the bike (Silly insurance companies.....). I bought a 1995 GSXR 750 froma tow yard and it had  a salvage certificate... I took it to the DMV and had their inspection done-got a salvage title-and fixed it. The owner was out of country I guess and never claimed the bike (theft recovery)  so the tow yard got the certificate...
The bike needed: left lower- mirror new spark plugs and new battery -radiator had an impact mark on it and had a small leak  so I replaced it..
oh and I put on factory turn signals (the mini-aftermarket one on one side was busted so I got originals and put them back  on).. I had the bike state inspected and sold it. I took a little less money because it was a salvage bike...
Was the bike good and safe (safe as any regular titled bike)?- absolutely-I'd have let my Mom ride it ( but she doesn't like motorcycles) it's just the owner never claimed it and they tow yard  can only get Salvage  certificate to it...

BUT

It can also mean the bike was mangled -so you look for eveidence of the frame being bent....(be very familiar with the model you are going to see and look for deviations...most are easy to see..) Some states will absolutely not allow a salvaged vehicle back on the road...some will  through various degrees of safety checks and paper work.... Some states are very easy ....(scary)...

The salvage title hurts resale-but if you aren't worried about resale- you can get  a decent bike for less money because of the salvage title...

Salvage titles most often mean the bike was totaled out (cost wise to repair) by the insurence company.  ive bee told you can buy a salvaged vehicle and repair it, have the state inspect it, and if they approve of all the repairs that the vehicle is safe, you can then apply for a "Rebuilt" title to put the bike back in Leagle operation on the street. but check with your state laws for details. im getting ready to do the same as i keep coming across alot of good deals for salvage bikes that need plastics and lights, or a bracket or 2.

does a salvage bike cost more to insure?

banks don't like to lend money on SALVAGE....or not as much $
insurance Co doesn't want to pay off a vehicle over and over....therefore it is difficult to get full coverage on SALVAGE

My 96 GS was salvage...theft recovery with some scratches on the tank
i paid cash
i have the cheapest possible insurance on the bike

my '97 was what i would have considered salvage, broken right mirror mount, bent forks etc. the infamous suzuki cover chipped, i say salvage, cause if insurance were to have looked at repairing, the forks (new, ) plus the tree more than likely would have exceeded its value, but it had a clear title on it. evidently was never turned in to insurance. but hey for $600 i think i did alright, considering it only had roughly 3800 mi on the clock