HB4160

Illinois HB4160 establishes the right to appraisal for disputes over vehicle damage claims and creates an advisory board to guide rulemaking.

Illinois HB4160 amends the Illinois Insurance Code to mandate that every automobile insurance policy with first-party coverage for physical damage must include a provision allowing either the insured or the insurer to invoke appraisal if there is a dispute over the actual cash value or amount of a loss, or the value of a settlement offer to a third-party claimant. The appraisal process involves each party selecting a competent and disinterested appraiser, and if they cannot agree, jointly selecting an umpire.