My wife had a traffic accident 11-24-13 in which she was injured and required rotator cuff surgery. The party at fault only had $50,000 coverage. We have underinsured and uninsured coverage. Our claims department says we are not under a two year statute of limitations deadline for the claim against our own insurance. We have settled with the at fault insurance company. Our insurance claims dept says we have ten years to settle on our insurance as it is a contractual obligation. Is this true or is the two year limitation apply to our coverage also.
2 Answers from Attorneys
You need to be careful and read your policy. Usually, you have two years from the date of accident to "demand arbitration" under the policy to preserve your rights. Without more information though, it is not really possible to answer your question with certainty. Feel free to call me. Good luck.
Jeffrey M. Shancer
You need to read your policy. Generally, for a claim of UIM to be honored, it must have been made within 2 years of the date of the incident. Some policies require that a request for arbitration be made at the same time. NEVER--NEVER--NEVER believe what an adjuster tells you unless it is in writing.
I hope this helps.