OK HB4488

Motor vehicle insurance policies with first-party physical damage coverage issued or renewed after January 1, 2027 must include an appraisal provision allowing either party to request independent appraisal when disputing actual cash value or loss amount

Appraisers must be selected from three recommendations provided by the insured, with the insurer choosing one; costs are split equally unless the appraisal finds the loss exceeds the insurer's pre-appraisal amount by $500 or more, in which case the insurer reimburses all appraisal costs including attorney fees

Neither party may demand an appraisal until 10 days after the insurer receives claim notification, and appraisers must complete their appraisal within 30 calendar days of selection

Appraisers must be "competent" (having subject matter expertise, training, and experience) and "disinterested" (no direct financial interest in the outcome), with their findings binding on both parties

Effective date is November 1, 2026