Will I have to pay taxes on my car accident settlement?

In Oklahoma, as in the rest of the United States, the tax treatment of car accident settlements is governed by federal tax law, with certain state-specific considerations. Tax Treatment of Car Accident Settlements The Internal Revenue Code (IRC) guides the taxability of income, including settlements from personal injury cases. Under Section 61 of the IRC, […]

Am I Liable if My Friend is Driving My Car and Causes an Accident?

The liability of a motor vehicle owner for injuries or damage resulting from the negligent operation of their vehicle by another person hinges on whether the vehicle was used with the owner’s express or implied permission. This principle is not universally applied and is significantly influenced by the permissive use provisions outlined in your insurance […]

Oklahoma Car Insurance Companies Do Not Advance Money On a Potential Settlement

The Adjuster Said, “They Accept Liability!” But What Does That Mean? When an adjuster states that their insurance company accepts liability, they acknowledge their insured’s fault in the accident and indicate a willingness to compensate for your damages and injuries. However, this does not guarantee a fair settlement offer. The insurance company may still dispute […]

Oklahoma Supreme Court Upholds Right to UM Benefits

The Oklahoma Supreme Court recently upheld an important insurance coverage protection for consumers in a case involving uninsured/underinsured motorist (UM) benefits. In Coates v. Progressive Direct Insurance Company, decided May 3rd, 2022, the Court ruled that a driver was entitled to UM benefits under his auto policy, even though he had rejected that coverage under […]

How Is a Car Accident Settlement Calculated in Oklahoma?

Determining the amount of compensation you are entitled to for an Oklahoma car accident can be challenging. How do you value pain and suffering in a car accident settlement? And who is responsible for calculating the value of your settlement? While recovering from the incident, having more information about effectively estimating your car accident settlement […]