Statute of limitations is the time limit for filing a civil complaint.  It is intended to ensure preservation of evidence and to prevent threats of lawsuits indefinitely.
In Georgia, there is a two-year (2 year) statute of limitation for a personal injury claim. O.C.G.A. §9-3-33.  The time starts running from the date of the injury or in the alternative, if there was a criminal citation or charges pending from the accident, then the time runs from the resolution of such citation or charges.
If you pass the two-year deadline without filing a lawsuit on your personal injury claim, then you will no longer able to pursue your claim.  Thus, you will not be compensated for your injuries, no matter the seriousness of your injuries. It is crucial that you retain an attorney as early as possible from your accident date in order for the attorney to work on your claim and to be sure that the statute of limitation does not run out on your personal injury claim.
It is worth noting that if you have been injured in an accident involving the State of Georgia or its employees or counties and cities in the State of Georgia or its employees, there are certain notices that must be sent as early as six (6) months from the date of the accident. Again, it is crucial to retain an attorney so that the proper notices are sent and your personal injury claims are preserved.