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The proceeds of compensation from an award for a vehicle accident are not taxable.
Settlements can vary widely, even the most minor-looking of accidents can result in a big settlement. Generally the goal is to fairly compensate a victim for the damages caused to the vehicle and the overall health of the victim(s).
Unfortunately, because most accident insurance settlements are kept confidential, it is impossible to know the largest settlement amount awarded in history. Settlement amounts typically vary by how much insurance one has on their vehicle, and the amount of damage done to the car and passengers.
12/13 min
This all depends on what injuries were suffered, how much damage was done to the vehicle. Usually a good settlement would be to get the vehicle repaired or replaced whichever applies. If injuries were suffered, the hospital and or doctor bills paid. Any work lost because of the loss of vehicle or hospital stay or unable to work because of any injury should be paid. If you were stressed because of the accident you can get mental anguish paid. These are just ideas of what you could receive if all were proven injuries.
The average time it takes to settle an accident claim is 2-4 weeks, depending on how quickly the adjuster can look at your vehicle.
Do you have to pay a motor vehicle accident and for how long
If you accept the settlement from the insurance company, the van is theirs. If you want to keep it, they will let you, but will reduce the settlement check by the salvage value of the vehicle. Not true. Illinois law to deter chop shops states if the vechicle is totalled, the insurance compnay takes possession after issueing a check for the value. Vehicle has to be 9 or less years old.
your insurance company will pay for the repairs. You may even have a policy that waives the deductible. Be sure to know all your options before accepting a settlement.
The owners name and address should be listed on the accident report as well as the driver of the vehicle and who was at fault in the accident.
You need to consult an attorney. Ther is simply no possible way to answer your question without very specific details about the accident.
Situation dependent. Severity of the injuries, complications of the procedure, and other factors will ultimately be key in determining this. There isn't a set amount.