All property insurance coverage requirement to allow appraisal of damages and alternative resolution

This bill requires all property insurance policies in Minnesota to include a mandatory appraisal process for resolving disputes over damage amounts. It directly affects insurance companies and policyholders by mandating that both parties select independent appraisers when they disagree on a claim's value, with a neutral umpire to settle any remaining differences. The law also sets a two-year deadline for filing lawsuits related to property claims and repeals an older hail insurance provision that had similar but different dispute resolution rules. These changes take effect on January 1, 2027, and apply to losses occurring on or after that date.