Time limits for suing over car accident insurance

(a) No suit shall be brought on any contract providing motor vehicle insurance benefits or any contract providing optional additional coverage more than the later of: (1) Two years from the date of the motor vehicle accident upon which the claim is based; (2) Two years after the last payment of motor vehicle insurance benefits; (3) Two years after the entry of a final order in arbitration; (4) Two years after the entry of a final judgment in, or dismissal with prejudice of, a tort action arising out of a motor vehicle accident, where a cause of action for insurer bad faith arises out of the tort action; or (5) Two years after payment of liability coverage, for underinsured motorist claims. (b) No suit arising out of a motor vehicle accident shall be brought in tort more than the later of: (1) Two years after the date of the motor vehicle accident upon which the claim is based; (2) Two years after the date of the last payment of motor vehicle insurance or optional additional benefits; or (3) Two years after the date of the last payment of workers' compensation or public assistance benefits arising from the motor vehicle accident.