What does Statute of Limitations mean? Read on to discover the definition & meaning of the term Statute of Limitations - to help you better understand the language used in insurance policies.
Statute of Limitations
A statute of limitations is a specified time period during which a policyholder can file a claim for damages. If they do not file a claim within this time period, their insurance policy will no longer pay for any damages.
We hope the you have a better understanding of the meaning of Statute of Limitations.