Oregon Auto Insurance FAQ
Below are frequently asked questions that I receive from drivers.
Oregon auto insurance PIP, also known as Personal Injury Protection, (for reasonable and necessary medical, dental and other expenses one year after a crash) is required at a minimum of $15,000 per person and uninsured motorist coverage of $25,000 per person and $50,000 per crash for bodily injury.
Split Limit coverage designates and apportions how much protection you have for bodily injury and/or property damage. Essentially it breaks down the maximum coverage per person and per accident for bodily injury with a separate component for property damage. A Split Limit is quoted in three numbers: bodily injury at $100,000 per person/$300,000 per accident/& $100,000 for property damage.
At it’s simplicity Combined Single Limit will afford the flexibility to use the entire coverage amount for everything, including property damage and bodily injury. You would not be locked into a set breakdown of coverage amounts which provides flexibility based on the situation of an accident to distribute money in an appropriate fashion.
Availability of finding the auto parts.
The cost and value of those parts.
Cost of repairs to the vehicle.
One of the most challenging job for adjusters for damaged cars is finding the parts. If a part cannot be found it is possible that they will total it out, if the frame is bent or mechanical parts (radiator, engine) are destroyed the vehicle might also be considered a total loss. If it is going to cost the company extensive labor hours to process the loss in addition to the loss itself it is possible that the vehicle would be totaled.
If an insurance company did total out your vehicle you would be reimbursed the stated cash value of the vehicle given when the policy is started, you would have the opportunity to buy the car from the company at the salvage value. Salvage value would be what the company could get for the parts.
As an insurance broker I help individuals throughout Oregon and the Pacific Northwest manage risk.