BMW total loss valuation › Oregon
Oregon total loss rules for BMW owners
Oregon has its own rule on how an insurer values a total loss: Oregon OAR 836-080-0240. Here is what it says, and what to do if the offer on your BMW looks low.
What the rules say
- Comparable vehicles. Oregon OAR 836-080-0240 provides: "A replacement automobile is at least comparable if it is the same make, is of the same or a newer year, is of a similar body style, has similar options and mileage as the insured automobile, is in as good or better overall condition". Comparables must have been available within 90 days.
- Adjustments. Under Oregon OAR 836-080-0240, "Any deductions from the cost, including deduction for salvage if the salvage is retained by the claimant, must be measurable, discernible, itemized and specified as to dollar amount and must be appropriate in amount." A settlement that deviates from the comparable-vehicle methods on account of the vehicle's condition must be supported: under the model regulation “the deviation must be supported by documentation giving particulars of the automobile condition”, with every deduction itemized in dollars.
- Dealer quotations. Where comparables are not available, the model regulation permits “one of two or more quotations obtained by the insurer from two or more licensed dealers located within the local market area when the cost of comparable automobiles are not available”. Our Total Loss Market Valuation Report is a written quotation of market value from a licensed California dealer.
- How to request the insurer's valuation report. Under Oregon OAR 836-080-0240 the insurer must show you the basis of its valuation on request. Ask the adjuster in writing for the complete valuation report on which the offer rests, including each comparable, its source, price, mileage and every itemized adjustment, and keep a copy of the request and the response.
- If you cannot buy a comparable. If you cannot buy a comparable vehicle for the amount paid within 35 days, the claim can be reopened under Oregon OAR 836-080-0240.
- The appraisal clause. Under the policy's appraisal provision, you and the insurer each appoint a competent, impartial appraiser; the appraisers then agree a value or submit their differences to an umpire. Our report can be given to the appraiser you appoint as evidence of what cars like yours sell for. On a reopened claim the insurer may "conclude the loss settlement in the manner provided in the appraisal section of the insurance policy" and "shall reimburse the insured for the reasonable appraisal costs as provided in ORS 742.466" (section (6)(d)).
- Where to complain. The Oregon Division of Financial Regulation takes complaints about claim handling (888-877-4894): https://dfr.oregon.gov/help/complaints-licenses/Pages/file-complaint.aspx
If the offer on your BMW looks low
- Ask for the insurer's valuation in writing. It lists the comparable cars the offer rests on and every adjustment made to them.
- Check the comparables. They should be the same generation, body, gearbox and trim as your car, at similar mileage. Enthusiast and classic BMWs are where the software most often reaches for the wrong cars.
- See what cars like yours actually sold for. The valuation tool shows recorded Bring a Trailer and Cars & Bids sales for your model, year and mileage. Free.
- Put the evidence in front of the adjuster. The Total Loss Market Valuation Report ($199) lays out comparable sales, adjustments in dollars and your state's rule, with a letter to your adjuster on the first page. The preview is free.
Questions
How is a totaled BMW valued in Oregon?
Oregon OAR 836-080-0240 provides: "A replacement automobile is at least comparable if it is the same make, is of the same or a newer year, is of a similar body style, has similar options and mileage as the insured automobile, is in as good or better overall condition".
How recent and how close must the comparable cars be in Oregon?
Comparables must have been available within 90 days. They should also be the same generation, body, gearbox and trim as your car, at similar mileage; enthusiast and classic BMWs are where the software most often reaches for the wrong cars.
Can I get the insurer's valuation report in Oregon?
Under Oregon OAR 836-080-0240 the insurer must show you the basis of its valuation on request. Ask the adjuster in writing for the complete valuation report on which the offer rests, including each comparable, its source, price, mileage and every itemized adjustment, and keep a copy of the request and the response.
What if I cannot buy a comparable car for what the insurer paid in Oregon?
If you cannot buy a comparable vehicle for the amount paid within 35 days, the claim can be reopened under Oregon OAR 836-080-0240. Our Total Loss Market Valuation Report lists what dealers are asking for comparable cars near you today, widening the search nationwide when it has to.
What if I still disagree with the insurer's offer in Oregon?
Under the policy's appraisal provision, you and the insurer each appoint a competent, impartial appraiser; the appraisers then agree a value or submit their differences to an umpire. Our report can be given to the appraiser you appoint as evidence of what cars like yours sell for. On a reopened claim the insurer may "conclude the loss settlement in the manner provided in the appraisal section of the insurance policy" and "shall reimburse the insured for the reasonable appraisal costs as provided in ORS 742.466" (section (6)(d)).
Where do I complain about a total loss claim in Oregon?
The Oregon Division of Financial Regulation takes complaints about claim handling (888-877-4894): https://dfr.oregon.gov/help/complaints-licenses/Pages/file-complaint.aspx. Before you file, ask the adjuster in writing for the complete valuation report on which the offer rests, with each comparable and every itemized adjustment, and keep a copy of the request and the response.
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Total loss rules in other states
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