In actual practice, claimants can file insurance claims up until the statute of limitations runs out in their state. The statute of limitations, or the period within which a lawsuit must be filed or a claim must be reported, starts to run on the day the accident occurs. Each state has its own statute of limitations, and the statute of limitations for personal injury cases usually range from two to four years. If an injured party files a claim even just a few days after the statute of limitations has expired , the claim may be denied.
However, claims should be ideally filed as early as possible after an accident has occurred. The sooner a claim is filed, the earlier the injured party can be compensated through their insurance policy. Also, reporting a claim within the earliest time assures that the parties involved still have a fresh recollection of the accident. There also has to be a prompt documentation of the incident before repairs can be made or compensation can be given.
In most personal injury accidents, it may be necessary to file claims to more than one insurance company. For instance, when a visitor slips in a house and injures himself/herself, the homeowner needs to inform their insurance company about the incident as soon as possible. The homeowner may also need to coordinate with his own insurance company if repairs have to be immediately made on the house.
The same goes when a motorist is hurt in an auto accident that was not caused by him/herself. If he/she has collision protection and personal injury coverage on his/her policy, it will be necessary that he/she files a claim with his/her own insurance company to reimburse his/her car repair and medical bills. Moreover, he/she will need to notify the insurance company of the motorist who caused the incident. The other motorist, on the other hand, should also instantly file a report to his/her own insurance company because the latter do not prefer being first informed of the accident by the innocent party.
If you are involved in an accident, it is imperative to immediately notify your insurance company regardless of who was at fault. Informing your insurer is always a matter of timeliness, and it is part of your duty to cooperate in settling potential claims. Review your insurance policy and consult your company’s representative or agent. Otherwise, there will be higher chances of losing your claim.