Welcome to ADR-Claims, where we are committed to making your insurance claims process as smooth and fair as possible. Our mission is to ensure that you receive the equitable settlements you deserve through our expert appraisal services and unwavering dedication to integrity and professionalism.
Has your car lost value due to an accident in the state of Oregon? Were you innocent in the crash? If so, you are eligible for diminished value claim Oregon! Thanks to the favorable Oregon diminished value law, this state happens to be the best in the country for getting compensated for the reduction in the value of your vehicle. Oregon law ORS 20.080 makes it easier for drivers to recover losses.
If your car is involved in an accident caused by the other driver’s fault, you have the right to get it restored to its pre-accident condition. However, if repairs fail to bring the original look and functionality of your vehicle- you are entitled to an amount to recover your loss. This is called diminution of value Oregon.
Take the court case Mock v. Terry for reference. If repairs fail to bring the car back to its previous value, the vehicle owner must be compensated for the difference in cash by the insurance company.
Oregon diminished value claim is a smart way to recover the drop in your car’s value after an accident. No matter how good the repairs are. A car with a history of accidents ought to lose value. Since any potential buyer or dealer is unable to show full confidence in a car with a history of accidents when compared to a car with a clean past.
Filing for a diminished value claim Oregon becomes extremely crucial if you plan to resell your car. It allows you to receive compensation for your loss, so you don’t lose out at the time of resale. Simply put- it is a wonderful opportunity to not only protect your investment but to make the most of it.
A vehicle owner seeks reimbursement because their car is worth less after a collision- even after it has been repaired expertly. The claim safeguards the right of the vehicle owner.
The claim is further divided into three key categories, including:
This is the most common type of diminished value Oregon. In this case, the vehicle owner asks for compensation because their car lost value due to an accident tag. Even high-quality repairs can’t fully restore the car’s market value.
This claim comes into being when repairs are not up to the mark. This may include the use of substandard parts, a poor paint job, or the use of aftermarket equipment, and many more. As a result, the car becomes less appealing to potential buyers and lowers its resale value.
The value of the car drops at the spot of the accident- before any repairs are made. This reduction in the value can be attributed to the fact that the car now has a crash history. Despite receiving full repairs, its past will demotivate potential buyers and dealers from purchasing it.
This claim works as a third-party claim. This means you can file this claim with the insurance company of the at-fault driver. In some cases, however, this is rare; you may file for this with your own insurance company if stated in your policy.
Diminished value claim Oregon aims to reimburse the difference between the pre- and post-accident value of the car (including repair work).
Diminished Value Claim emerges as a strategic rather than natural step- for vehicle owners whose car has lost value in an accident. On the other hand, even after repairs, it does its job perfectly, restores the visual appeal as well as the functionality of the vehicle. They cannot recover the loss in the market value of the car due to the accident history.
We at ADR-Claims might be able to help if your car has lost value due to a collision. Regardless it is a car, truck, or motorcycle accident, we have the expertise to navigate the complexities of the claim! Call us at the numbers provided and let us help you receive the fair compensation you deserve!
Typically, the diminished value claim Oregon is covered by the insurance company of the driver who caused the accident. Regardless of your state, you need to submit the claim to the at-fault driver’s insurance and present evidence supporting your claim.
In some cases, your own insurance might be able to compensate for your claim. That said, it needs to be specified in your own policy. To ensure how to submit a diminished value claim, discuss with your service provider about your options and understand your claim properly before proceeding.
What is the duration to file a diminished value claim in Oregon?
Yes, there is a specified statute of limitations when it comes to filing diminished value claims. The state of Oregon allows for a liberal duration of 6 years from the date of the accident to submit your claim.
Here are some key steps that help you successfully file and get approved for your claim.
Get a professional appraisal- this is a crucial step in the claim process and is also the most important piece of evidence backing your case. A qualified appraiser will carefully evaluate your vehicle's pre- and post-accident condition, consider the current market rate, and determine how much value your vehicle has lost due to the accident.
Collect documentation- gather repair documentation. This may include: repair invoices, receipts, a copy of the police report for the accident, photos of the damage, and many more.
Inform the at-fault driver’s insurance company- reach out to the insurance company to initiate the claim submission process.
Negotiate- starting with a low offer or trying to reject the diminished value claim Oregon are common practice by the insurance company. Be prepared to fight for your rights. If your talks don’t yield a result and the claim gets rejected, you have the option to apply to the traditional court.
Our quick and simple appraisal process can help you recoup vehicle-related losses.
