Statute of Limitations on an Insurance Claim, Understanding the Law

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If a case has exceeded the time limits set by the statute of limitations, it should not be brought before the court. However, if a case is filed after the expiration of the statute of limitations, it may still be based on certain events that occurred long ago. It is important to note that the laws regarding statute of limitations determine how long after certain events a case can be initiated. It is also worth mentioning that each state has its own set of rules and regulations, and most insurance companies have a time restriction when it comes to filing claims and insurance.

In civil cases, time limits set by law typically vary from one to ten years.

  • Sometimes this time period is counted from the date of the event itself – as in the date of a personal injury.
  • For example, when finding a faulty manufactured product, this time frame starts from the moment of identifying a problem that one intends to rectify, on other occasions.

    • In criminal cases, the range of statutes of limitations varies greatly depending on whether the case is for:

  • A violation, such as a parking citation.
  • A minor offense, such as theft from a store, or.
  • A serious crime, such as homicide.

    • The claim must be settled by insurance companies within 35 business days after it is filed. In New York, the statute of limitations for a breach of contract claim is six years from the date of loss.

  • Auto Insurance Claims: The statute of limitations for car accident victims who are injured in New York is three years.
  • If you sustained a bodily injury resulting from an incident, and you need medical assistance, you can file a claim for the accident under New York law: Accident Insurance Claims.
  • Property Damage Insurance Claim:- If the incident solely consisted of property damage, you have a three-year window to submit a claim.
  • Home Insurance Claims: Homeowners are given a one-year period to submit a claim.
  • Health Insurance Claims: The statute of limitations for medical debts in New York has been reduced from six to three years.
  • Life Insurance Claims: The time limit for legal action in New York is two years.

    • What Happens When the Statute of Limitations Ends?

    It is essential to be aware that if you file a lawsuit after the statute of limitations has ended, the court will dismiss your claim. You will no longer have the right to file a lawsuit once the statute of limitations has expired.

    We Are Here To Help.

    Unsure about something? Feel free to get your queries resolved through our Live Chat application on our website or by using our online contact form. Additionally, you can reach out to us at 800-469-7429 to schedule an appointment at our New York offices. Our firm is dedicated to ensuring that you receive the compensation you are entitled to; don’t let your rightful claim be denied. We possess the expertise and knowledge to handle such cases effectively, backed by over 60 years of combined experience at Edelman, Krasin, & Jaye, PLLC. Our offices in Long Island, Brooklyn, and the Bronx are conveniently located. Gain a clear understanding of how the statutes of limitations are applicable to your particular case, and be aware of your rights if the time limit to file an insurance claim has expired. Uncertain about any of this?