How Much Will You Get From Car Accident Settlement

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How Much Will You Get From Car Accident
Settlement?
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INTRODUCTION
If you have been injured in a car accident, you
would definitely have to deal with the medical
bills, insurance payments, the emotional distress
and more. In fact, car accidents can happen
anytime even when you are most careful. These
might leave you suffering from problems that you
probably never thought you would have to deal
with. However, car accident settlements might
compensate you for the damages that you have
sustained. These include lost wages,
psychological or physical trauma, etc.
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Do You Pay Taxes On Injury Settlements?
If you have received any settlement following a
car accident, you might wonder if you have to pay
taxes on the money received. Now, the answer is
in most cases, you dont need to. However, this
is not a hard and fast rule and it depends on the
nature and circumstances of the settlement or
judgement. Usually, it doesnt matter whether the
money you have received is through settlement or
through judgement following trials.
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How Much Is The Average Car Accident Settlement?
When thinking what is the average pay-out for a
car accident, you must know that the amount would
vary. Since the severity of the incident and the
injuries not the same, the amount would vary.
Usually, the damages are divided into three main
categories. Special, General and Punitive. Also,
statistics have shown that the average small car
accident settlement falls between 14000 and
28000 or 21000.
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How Much Should I Settle For My Car Accident?
There are two concepts that you need to
understand, your odds of winning and amount of
recovery. You also do some math for that. For
instance, if you think you have 50 chance of
winning at the trial and the jury is likely to
award you around 100,000, you can settle for
50,000. But remember that every case is
different and this is just a rough outline of an
evaluation. Others are different. You must demand
twice what you are looking for to settle the case
for, if not more.
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How Long Does Car Accident Settlement
Negotiations Take?
Non-litigated case usually settle after six to
ten months from the date of injury. The insurance
company must respond within 30 days to
plaintiffs settlement demand letter. After the
settlement gets reached, it would take four to
six weeks to complete the settlement process.
Finally, if you have been injured in a car
accident, ensure that you act quickly. You have
two years from the date of accident to file the
lawsuit for your personal injury.
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CONCLUSION
In a car accident case, the settlement amount
depends on various factors. These include the
type of injury you have had, the damage of the
car and more. Now, this is not the same for all,
it varies in every case and for every individual.
Your lawyer can help you find the right
compensation that you really deserve. Also, the
insurance company plays a big role in determining
the amount along with your attorney. You dont
need to worry as your attorney will handle it.
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To know more please visit https//a1accidentlawyer
.com/how-much-worth-car-accident-settlement/