After a car accident, individuals are usually unsure what to do with their car. In some cases, individuals can handle the damages through their or the other drivers' insurance company.
Insurance companies will typically compensate drivers for an amount that is equal the fair market value of the car before the accident. If the compensation is greater than the amount that it costs to repair the car, then the individual may be taxed on the extra amount.
If you or anyone you know has questions about your car accident, contact the Racine car accident attorneys of Habush Habush & Rottier S.C. ®, at 800-242-2874.