Filing A Diminished Value Claim In Oregon
Statute of Limitations to File: 6 Years
File First Party Claim: Excluded
File Third Party Claim: Yes
Diminished Value Through Uninsured Motorist Coverage: Optional coverage
Oregon Small Claims Max Filing: $10,000, attorney representation not permitted
Mock v. Terry: If repairing the car does not return it to its previous value, then the difference must be made up in cash.
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Gonzales v. Farmers: Insureds can be compensated for diminished value under their own insurance policy. Unfortunately, most auto insurance policies exclude coverage for first party diminished value making the ruling in this case of little value to you if you are trying to claim diminished value against your own policy. (Check your coverage)
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ORS 20.080: A statute that applies to all property damage and bodily injury claims that are less than $10,000 and gives you the right to recover attorney fees. This statute was enacted to pressure insurance companies into settling lower value claims, that if not handled appropriately, could turn relatively small claims into high risk, attorney fee cases.
Richard W. Taylor, President-Managing Partner
NPN #16425692
Richard was a great help in assisting us with our total loss claim with our own insurance company. Not only did he get us fair market value but he was a pleasure to deal with, extremely helpful, extensively knowledgeable, and couldn't have been more responsive. I cannot recommend him highly enough.
Reviews
Richard E. Taylor, Sr. Vice President-Partner
NPN#18866571
DVAC gives nothing but honest and objective opinions about the value of your vehicle. I have used Mr. Taylor for appraisals multiple times, and each time, I've gotten nothing but an honest assessment. Mr. Taylor is not only knowledgeable, but extremely responsive and efficient. Highly recommend DVAC.