Bill Summary for H 205 (2019-2020)

Summary date: 

May 6 2019

Bill Information:

View NCGA Bill Details2019-2020 Session
House Bill 205 (Public) Filed Tuesday, February 26, 2019
AN ACT TO AMEND THE LAW GOVERNING THE PROCEDURES FOR DETERMINING THE AMOUNT OF PROPERTY DAMAGE TO A MOTOR VEHICLE WHEN LIABILITY FOR COVERAGE FOR THE CLAIM IS NOT IN DISPUTE.
Intro. by Torbett.

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Bill summary

House committee substitute to the 3rd edition makes the following changes. 

Modifies and adds to the proposed changes to GS 20-279.21(d1) to require motor vehicle liability policies to provide, concerning a claim for property damage to a motor vehicle against the insurer, that if the difference in the claimant's and the insurer's estimate of the diminution in fair market value is greater than $500, then on written demand of either, each must select an appraiser and notify the other within 20 days of demand (previously provided for the fair market value greater than $500 of the fair market retail value of the vehicle prior to the accident). If the appraisers cannot agree, directs that the appraisers must submit their appraisals to the umpire along with their differences.

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