What is a statute of limitations?

A statute of limitations is a law that places a time limit on how long a person has to take legal action following an accident. In Colorado, the statute of limitations for personal injury claims is two years; this means that a person has two years from the date of their accident to file a claim against the responsible party. If a claim is not filed within the time limit, then the person will likely be barred from seeking any legal remedy. Strict deadlines are crucial in accident law because they help ensure that evidence has not been lost or misplaced in the years following an accident. They also give insurance companies an opportunity to know when a claim is coming, so they can begin to prepare for it. The statute of limitations is taken very seriously in Colorado. If you miss your deadline, it can have severe consequences and you may not be able to receive the compensation you need to make a full recovery. It is important to act quickly following an accident to ensure you don’t miss any important deadlines and to make sure that you are able to get the best possible outcome.

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What is a statute of limitations?

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