Good morning. No, this will not be considered income. Here is the summary of why:
The income tax law of the United States has a broad general rule in the notorious Section 61: gross income includes all income.
§ 61. Gross income defined.
(a) General definition. Except as otherwise provided in this subtitle, gross income means all income from whatever source derived. " 26 United States Code [Internal Revenue Code]. § 61
However, an electrical accident claim will generally be a personal injury claim. The good news is that personal injury claims are specifically excluded from federal income tax:
§ 104. Compensation for injuries or sickness.
(a) In general. Except [for] deductions allowed for any prior taxable year, gross income does not include-
(1) amounts received under workmen's compensation acts as compensation for personal injuries or sickness;
(2) the amount of any damages (other than punitive damages) received (whether by suit or agreement and whether as lump sums or as periodic payments) on account of personal physical injuries
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The information given here is not legal advice. As all states have different intricacies in their laws, the information given is general only. This communication does not establish an attorney-client relationship with you. I hope this answer has been helpful to you.