What Does Statute of Limitations Mean?

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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

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.

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