Time Limit to file lawsuit in CO for underinsurance Mark Dayan asked 4 months ago
Time Limit to file lawsuit in CO for underinsurance

We lost our house last December in the Marshall Fire. I am still working on settling my claim with Amica. How long do I have to file a lawsuit in Colorado for underinsurance of my structure?

Thanks,

Mark

2 Answers
Tom Henderson Tom Henderson Expert answered 3 months ago

Mark, The statute of limitation for torts in Colorado relating to insurance is 2 years. To be on the safe side, you should calendar 2 years from the date of the fire.

Stacy Tucker Stacy Tucker Expert answered 3 months ago

In Colorado, there is a three-year statute of limitations for breach of contract. If you believe you are underinsured and want to bring suit, you would likely allege reformation, which is a type of breach of contract. However, most insurance policies have a one-year contractual limitation on suit. In Colorado, as in many states, this limitation is tolled during the claim until you have a basis to know that there is a cause for suit. That is generally deemed to be when your claim is denied or closed. To be safe, you can consider it to be one year from when you requested that the insurer make up any underinsurance, and that request was denied, assuming your policy includes a one-year limitation on suit.