The Colorado Revised Statute 13-80 101(1) states that individuals only have a two year time limit to file lawsuits for their injuries after sustaining them through accidents on public roads. If you don't file your accident claim within two years, the court will deny it without looking into any exceptions or extenuating circumstances.
You may not know right away that you have been injured by a motor vehicle accident. Some injuries, like spinal cord damage and traumatic brain injury, are hard to detect immediately post-accident because they can happen slowly over time or go unnoticed altogether. If this is the case for you then your statute of limitations might be extended up until three years from when these symptoms manifest themselves. However, you will need to provide proof that you were not aware of your injuries.
The sooner you file your claim for compensation the more likely it is that evidence will be available to help prove fault and get compensation. The longer a case goes un-filed, witnesses may forget details before they can testify in court on what happened during the accident.