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HB 1247

Property Insurance Appraisal Clause Claim Disputes

2026 Regular Session

HB 1247 reforms Colorado's property insurance appraisal dispute process, establishing new standards or procedures for resolving insurer-policyholder disagreements over claim valuations.

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Bill Summary · HB 1247

Legislative bill overview

HB 1247 modifies Colorado's property insurance appraisal process for claim disputes by establishing new procedures or standards for how insurers and policyholders resolve disagreements over property damage valuations. The bill appears to address the appraisal clause mechanism—a common insurance contract provision that allows parties to submit claims to an independent appraiser when they disagree on repair or replacement costs.

Why is this important

Property damage claims often involve significant financial disputes between insurers and homeowners/business owners over repair costs, and lengthy resolution processes can leave policyholders without timely compensation for losses. Clarifying or reforming appraisal procedures affects how quickly and fairly these disputes are resolved, with direct consequences for Coloradans filing insurance claims after storms, fires, or other covered events.

Potential points of contention

  • Cost allocation: Whether the bill requires insurers to pay appraisal fees, share them equally, or maintain current arrangements—affecting claim resolution accessibility for lower-income policyholders
  • Appraiser qualification standards: Debates over who qualifies as an "independent" appraiser and whether stricter licensing/experience requirements increase costs or improve fairness
  • Timeline mandates: If the bill imposes deadlines on appraisal completion, insurers may argue this creates operational burdens while consumer advocates may see it as necessary protection against indefinite delays

Compiled from official sources — confirm details with the bill’s official record.

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