HB 4160: AUTO INS-RIGHT TO APPRAISAL

Summary

Amends the Illinois Insurance Code. Provides that every policy of automobile insurance issued, renewed, or delivered on or after July 1, 2027 in Illinois that includes first-party coverage for physical damage shall contain a provision granting the insured, in the insured's sole discretion, without the company's consent or agreement required, and the insurer the right to invoke appraisal if there is a dispute over the amount of a loss. Provides that, if a dispute arises regarding the amount of a loss, either party may submit a written demand for appraisal. Sets forth provisions concerning required actions for the selected appraisers and provides for the selection of an umpire if an agreement is not reached. Sets forth provisions concerning issuance of the award determining the amount of loss and cost allocation. Effective July 1, 2027.

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Aug 7, 2026

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