Having a statute of limitations can feel like a restriction, but the purpose of this law is to help ensure cases are resolved quickly and fairly. By instituting a deadline for filings, the law: Forces parties involved to try to reach an agreement Weeds out frivolous or needless lawsuits Preserves evidence, especially witness testimony It’s no coincidence that sometimes simply filing a lawsuit is enough to encourage insurers and liable parties to finally reach a settlement agreement with an accident victim. Having a deadline for taking additional legal action can help prevent insurance claims from dragging on. Secondly, the statute of limitations can prevent anyone from suing someone no matter how much time has passed since an incident. Creating a set timeline for cases can therefore help reduce the number of frivolous or unnecessary lawsuits that abuse the system. Perhaps most importantly, a statute of limitations ensures that evidence remains fresh. While your memory of your accident is clear to you, it might not stay that way. Witnesses can also forget key details. Physical evidence, like security or traffic footage, can get lost or erased. Requiring parties to act before too many years have passed can help preserve the facts of the case.