Oregon Diminished Value
In the state of Oregon, the statute of limitations for collection of diminished value is six years from the date of the loss. Even if you’ve already settled for injury and damage to your vehicle, you still are able to claim your lost resale value in Oregon. The state has some of the best diminished value laws for recovery, ranging all the way back to the 1930's. Rossier v. OR. Mutual Fire Insurance Company 134 is a case where the court determined that the proper measure of recoverable loss under the policy was the difference between the vehicle’s pre-accident and post-accident market value.
Recently, we had the pleasure of helping out a local dealership in Bend. Subaru of Bend needed help with settling a diminished value claim on one of their brand new 2020 Crosstrek models. DVAC compiled a licensed appraisal to go to the at-fault insurance company. We advised how to interface with the insurance company and negotiated a settelement. Subaru of Bend was able to recover $4,300.00 on one of their vehicles. They originally were offered $500. It pays to hire a licensed appraiser!