Minnesota HF4422 requires all property insurance policies to allow appraisal of damages and alternative resolution.

Minnesota HF4422 mandates that all property insurance policies must include provisions for the appraisal of damages and alternative resolution. If the insured and the insurance company cannot agree on the actual cash value or the amount of loss, each party must select a competent and disinterested appraiser. The appraisers must then select an umpire, and their decision determines the amount of loss. If the appraisers fail to agree, the umpire's decision is final and binding.

Minnesota HF4422 requires all property insurance policies to allow appraisal of damages and alternative resolution.

Minnesota HF4422 mandates that all property insurance policies must include provisions for the appraisal of damages and alternative resolution. If the insured and the insurance company cannot agree on the actual cash value or the amount of loss, each party must select a competent and disinterested appraiser. The appraisers must then select an umpire, and their decision determines the amount of loss. If the appraisers fail to agree, the umpire's decision is final and binding.