How Much Will I Get from the Takata Airbag Settlement?

Nov 18, 2024Airbag Injury Settlements

In the past few years, several auto manufacturers have entered into class action settlements involving Takata airbags. Since Takata has filed for bankruptcy, it is up to automakers to compensate vehicle owners, drivers, and passengers for their losses. While some settlement windows have closed, many individuals are still eligible to claim a portion of the funds that these companies have agreed to pay. These settlements pertain to economic losses only—they do not cover Takata airbag injury claims.

Understanding the Different Types of Takata Airbag Settlements

So, how much will you get from a Takata airbag settlement? The answer to this question depends on your specific circumstances. If you have a claim for economic losses, you may be eligible to receive several hundred dollars under one of the settlement agreements that is currently in place.

But, if you have a Takata airbag injury claim, you may be entitled to far more.

To be clear, far fewer people have Takata airbag injury claims. While Takata sold more than 100 million defective airbags in the United States, only a very small percentage of these defective airbags have caused serious or fatal injuries. With that said, the risks are well-known, and many victims and families have already filed successful claims for financial compensation.

As a result, if you think you may have a claim for serious or fatal injuries caused by a Takata airbag, it will be well worth speaking with an attorney. If you are entitled to a Takata airbag injury settlement, you may be entitled to not just hundreds but potentially hundreds of thousands of dollars.

Understanding the Costs of Takata Airbag Injuries

Individuals and families who have Takata airbag injury claims are entitled to just compensation for all of the costs they incur as a result of their injuries or their loved one’s wrongful death. The automakers that sold vehicles equipped with defective Takata airbags are liable for these costs—this is clear under the law. These types of cases are governed by “product liability” laws, and these laws make all companies involved in the manufacture or sale of a defective product fully liable for any harm the product causes.

If you have a Takata airbag injury claim, what can you expect in terms of a settlement?

Here, too, we need to be clear: There is no guarantee that you will receive a settlement. To obtain a settlement, you need to assert your legal rights effectively, and you need to convince the auto manufacturer that settling is its most cost-effective option. If you don’t clearly prove your legal rights, or if you are not prepared to effectively present your case in court, the auto manufacturer is not voluntarily going to pay the financial compensation you and your loved ones deserve.

Additionally, if you receive a settlement offer, you will need to make sure that it fairly compensates you for all of the costs of your injuries or your loved one’s wrongful death. For most people, these costs will include:

Medical bills
Other out-of-pocket expenses
Loss of income and benefits
Emotional distress
Pain and suffering
Loss of care, companionship, consortium, and services
Loss of enjoyment of life

The amount you are entitled to recover in each of these categories depends on your specific circumstances. Different types of injuries require different forms of treatment and leave patients with different long-term needs. Different people earn different amounts and will be unable to work for different periods of time. Different people respond to the effects of life-altering injuries differently. When it comes to deciding how much you should accept in a Takata airbag injury settlement, it is critical to ensure that you have a clear and comprehensive understanding of your total losses.

Making an Informed Decision About Accepting a Takata Airbag Injury Settlement

With all of this in mind, how can you make an informed decision about accepting a Takata airbag injury settlement? If you have a claim, here are some of the key steps you need to take to protect your legal rights:

1. Make Sure You Understand Your Diagnosis

One of the most important steps you can take is to make sure you understand your diagnosis. This will play a role in calculating all of the costs you are entitled to recover. If you haven’t yet seen a doctor, you should do so as soon as possible.

2. Make Sure You Get All of the Treatment You Need

When you are dealing with serious airbag-related injuries, you need to make sure you get all of the treatment you need. This includes not only treatment for your physical injuries but treatment for your psychological trauma as well. If you don’t get the treatment you need, you won’t be able to recover the full compensation you deserve.

3. Keep Track of Your Expenses

From medical bills to filling up (or recharging) your car, you should keep track of the expenses you incur as a result of your Takata airbag injury. These expenses will add up over time, and if you have an airbag injury claim, they should be included in your settlement.

4. Keep Track of Your Lost Earnings

You should also keep track of your lost earnings. This includes lost income (in all forms) and lost benefits. No matter how long you are out of work, you are entitled to just compensation for any income and benefits you would have earned were it not for your injuries.

5. Document Your Non-Financial Losses

Your settlement should include just compensation for your non-financial losses as well. While these can be more difficult to document, you should take plenty of photos during your recovery, and you should write down how your injuries (or your loved one’s passing) negatively impact your daily life.

Discuss Your Takata Airbag Injury Claim with a Lawyer for Free

Do you have a Takata airbag injury claim? If you think you may be entitled to financial compensation, we invite you to get in touch. Call 866-247-2247 or contact us online to arrange a free consultation today.