Car accident Settlement: How much can you get?
According to one source, the average car accident settlement is a little bit more than $15,400. That’s for car accidents that involve a bodily injury. Most car settlements are between $14,000 and $28,000. If you want to get a rough estimate on your own car accident settlement, then add up your expenses and multiply that sum by three. For example, add up your expenses for medical bills, car repairs, and lost wages, then multiply that sum by three.
The average claim that includes property damage is a little bit more than $3,000.
A settlement means that your case has been resolved out of court. Typically, it means a one- time payment has been mutually agreed upon by the parties and the defendant usually does not admit fault. Settlements are significantly less stressful than going to trial.
Taxes on Personal Injury Awards
If you sue someone for causing you personal physical injury or physical sickness, any damages or settlement you receive to compensate you for your medical expenses, lost wages, and pain, suffering, and emotional distress is not included in income. The money you receive isn’t taxed.
Justice Law Partners Inc and Justin Rodriguez specialize in a wide range of legal matters and are particularly active in the cities listed below.
Monrovia | Arcadia | Pasadena | Duarte | Baldwin Park | Alhambra | Azusa | El Monte | Covina | West Covina |