Life + Boat = Lifeboat - A specially constructed boat launched from land to help people in distress
Waste + Basket = Wastebasket - A paper basket to put trash in
Ship + Wreck = Shipwreck - the destruction of a ship at sea by sinking or breaking up
Room + Mate = Roommate - a person occupying the same room as another.
Mail + Box = Mailbox - a box into which mail is delivered, especially one mounted on a post at the entrance to a person's property