HB 345 introduces a standardized appraisal process to address disputed losses in residential property insurance claims. Under this bill, either the insurer or the policyholder may request an appraisal to determine the amount of loss if there is disagreement. The process specifies timelines for appraisers to be selected, for them to appraise the loss, and, if necessary, for an impartial umpire to be chosen to resolve differences. This bill requires that all appraisal-related expenses be paid on a flat or hourly fee basis and prohibits contingent payment structures, enhancing transparency in the appraisal process.