[{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/www.rizklaw.com\/blog\/oregon-supreme-court-diminished-value-coverage-auto-accidents\/#BlogPosting","mainEntityOfPage":"https:\/\/www.rizklaw.com\/blog\/oregon-supreme-court-diminished-value-coverage-auto-accidents\/","headline":"Oregon Supreme Court: Diminished Value Coverage, Auto Accidents","name":"Oregon Supreme Court: Diminished Value Coverage, Auto Accidents","description":"On October 23, 2008 the Supreme Court of Oregon decided a case which will likely require many insurance companies to pay for diminished value of a vehicle caused by an accident. In the decision,\u00a0Gonzales v. Farmers Insurance, Oregon\u2019s highest Court stated: \u201cWe hold that \u201crepair,\u201d as used in the policy at issue in this case,...","datePublished":"2008-10-24","dateModified":"2025-01-08","author":{"@type":"Person","@id":"https:\/\/www.rizklaw.com\/blog\/author\/rizklaw\/#Person","name":"Rizk Law","url":"https:\/\/www.rizklaw.com\/blog\/author\/rizklaw\/","identifier":9,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/10e23ce5e6c4dadb4589cd8edf2c3f59ac356a6e876c3656917777913d9c3bc1?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/10e23ce5e6c4dadb4589cd8edf2c3f59ac356a6e876c3656917777913d9c3bc1?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Rizk Law","logo":{"@type":"ImageObject","@id":"https:\/\/www.rizklaw.com\/wp-content\/uploads\/2024\/03\/rizk-law-logo-footer.jpg","url":"https:\/\/www.rizklaw.com\/wp-content\/uploads\/2024\/03\/rizk-law-logo-footer.jpg","width":278,"height":65}},"image":{"@type":"ImageObject","@id":"https:\/\/www.rizklaw.com\/wp-content\/uploads\/2024\/03\/Richard-Rizk-headshot.jpg","url":"https:\/\/www.rizklaw.com\/wp-content\/uploads\/2024\/03\/Richard-Rizk-headshot.jpg","width":383,"height":427},"url":"https:\/\/www.rizklaw.com\/blog\/oregon-supreme-court-diminished-value-coverage-auto-accidents\/","about":["Insurance Issues"],"wordCount":337,"articleBody":"On October 23, 2008 the Supreme Court of Oregon decided a case which will likely require many insurance companies to pay for diminished value of a vehicle caused by an accident. In the decision,\u00a0Gonzales v. Farmers Insurance, Oregon\u2019s highest Court stated:\u201cWe hold that \u201crepair,\u201d as used in the policy at issue in this case, requires defendants to restore plaintiff\u2019s vehicle to its pre-loss physical condition.\u00a0If defendants do not or cannot so restore plaintiff\u2019s vehicle, defendants must compensate a plaintiff for the diminished value of the vehicle.\u201dWhen a car is in an accident, its value is diminished because any reasonable buyer would pay less for a vehicle which had been involved in an accident\u2014even if the vehicle had been completely repaired. For years, many Oregon insurers have resisted paying for this lost value. After Gonzales v. Farmers, it appears that insurers whose policies don\u2019t explicitly exclude diminished value in this situation will be required to pay it.\u00a0Few if any auto insurance policies excluded diminished value prior to 2003 and most still do not.Finally, Oregon consumers get some relief from aggressive insurer tactics. But the fight is not over. Oregon still needs a comprehensive statutory bad faith claim with a punitive damage provision to punish insurers who place their financial interests ahead of their insured\u2019s. You can help by telling your Oregon legislative representative that you support a\u00a0\u201cpunitive damage bad faith law\u201d\u00a0to protect Oregon consumers from aggressive insurer tactics.Are you struggling with an insurance agent while trying to obtain a damages claim after a car accident? Contact an\u00a0experienced insurance claims lawyer in Portland from Rizk Law today. Our founder, Richard Rizk, worked for many years at the in-house counsel to numerous insurance agencies and has a thorough understanding of how insurance companies handle claims. Call today for your free consultation. Ph: 503.245.5677.Disclaimer: Our law firm does not handle home insurance claims. We exclusively handle insurance claims related to auto injuries, trucking accidents, and dog bite cases."},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Blog","item":"https:\/\/www.rizklaw.com\/blog\/#breadcrumbitem"},{"@type":"ListItem","position":2,"name":"Oregon Supreme Court: Diminished Value Coverage, Auto Accidents","item":"https:\/\/www.rizklaw.com\/blog\/oregon-supreme-court-diminished-value-coverage-auto-accidents\/#breadcrumbitem"}]}]