2025 Regular Session
HB 3359
Modifies the definition of "totaled vehicle" for the purposes of the Oregon Vehicle Code.
In Committee
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill changes how Oregon law defines a "totaled vehicle." Currently, a vehicle is considered totaled if an insurer declares it a total loss or if it’s stolen and not recovered. The bill adds a third condition: if a vehicle sustains damage that costs more than 80% of its value to repair, it will also be considered totaled.
Key provisions
- Defines a "totaled vehicle" as a vehicle declared a financial total loss by an insurer.
- Includes stolen vehicles not recovered within 30 days as totaled.
- Adds a condition where damage costs exceed 80% of the vehicle's retail market value.
- Retail market value is determined by publications used by financial institutions.
- Amends ORS 801.527 to incorporate these changes.
Who is affected
- Vehicle owners
- Insurance companies
- Vehicle repair shops
Notable changes
- Introduces a threshold of 80% of retail market value for determining a totaled vehicle.
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