The settlement that an accident victim may receive depends on the severity of the injuries. Usually it is a cash settlement paid through the insurance company. These can be lump sum payments, or monthly/yearly payments for an extended period of time.
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The amount typical is commensurate to the actual damages and accompanying losses incurred by the claimant.
Typically there are a few types of damages that can be claimed in a personal injury lawsuit. Beyond measurable costs like wages lost due to injury, medical expenses, and property damage, there are special damages like pain and suffering and emotional distress.
Probably nothing as it does not result in permanant damages. Perhaps they may be willing to pay $250 for the pain and/or trouble of the deal but no more.
No. If it was your own vehicle and you caused the accident then it is entirely your responsibility that the damage was caused and that you get it fixed.
Yes,, That's what it's for. It pays for damages you caused to another.
You need to discuss your damages with a personal injury lawyer.You need to discuss your damages with a personal injury lawyer.You need to discuss your damages with a personal injury lawyer.You need to discuss your damages with a personal injury lawyer.
Jeffrey O'Connell has written: 'The injury industry and the remedy of no-fault insurance' -- subject(s): Automobile Insurance, Insurance, No-fault automobile, Law and legislation, Liability for traffic accidents, No-fault, United States 'Payment for pain & suffering' -- subject(s): Automobile Insurance, Compensation (Psychology), Damages, Medical jurisprudence, Pain, Personal injuries, Public opinion, Suffering 'The injury industry and the remedy of no-fault auto insurance' -- subject(s): Insurance, No-fault automobile, Liability for traffic accidents 'The Lawsuit Lottery' -- subject(s): Accident Insurance, Accident law, Actions and defenses 'Five 20th century college presidents'
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).
Settlements received in a personal injury settlement are generally not considered income. It is usually thought of as a means of making someone whole for losses attributed to the injury and therefor isn't typically taxed. Emotional distress, when not associated with a physical injury is typically included as taxable income. Non-punitive damages received for personal injuries are excluded while, punitive damages are taxable income. http://www.pulversthompson.com/personal-injury-lawyer-blog/is-my-personal-injury-settlement-taxable/
I had a huge settlement from an auto insurance company and it was not taxed. However I believe that was because my attorney negotiated a type of settlement that made it non-taxable. I thnk it has to be considered "punitive damages" or something like that for it not to be taxed. Update - Generally, amounts paid for personal injury and property damage are NOT taxable. Amounts paid for punitive damages and loss of income ARE taxable.
The collision portion of your Auto Insurance Policy would pay for damages to your own auto when you are the at fault party. The liability portion of your auto insurance pays for damages you cause to another party Insurance Plus