Following an airbag injury, it is critical to speak with a personal lawyer to find out how you can recover the money you are owed. You may wonder about what types of financial compensation you can recover in a product liability claim against Takata.
There is no single answer to this question. The money you can obtain will depend on the specific circumstances of your accident. Some of the factors that will influence the value of your claim include the following:
- The type of collision that occurred
- The nature and extent of your injuries
- Whether any other drivers were involved
- The impact of the product defect on your accident
In most cases, personal injury victims have the opportunity to recover two types of compensatory payments in their Takata airbag settlements. The two most typical categories of financial compensation in such legal claims are economic damages and non-economic damages.
Explaining Economic Damages
The term “damages” is legalese for the payments made by at-fault parties to plaintiffs. Most Takata airbag injury victims experience a wide range of monetary losses as a result of Takata’s faulty product.
Defective Takata airbags can propel dangerous shards of shrapnel into the faces and necks of vehicle occupants. When this happens, injured parties usually require tens of thousands of dollars in medical care and treatment.
Even if a Takata airbag does not throw shrapnel in the face of the victim, it may fail to inflate. An airbag failure can cause the occupants of a vehicle to collide forcefully with the steering wheel, dashboard, or other hard surfaces.
Whatever the specifics of a Takata airbag failure are, the financial consequences can be overwhelming. Some of the most common monetary losses that injury victims experience include these:
- Medical bills for immediate treatment
- Expenses for long-term health issues
- Costs from vehicle damage and repair
- Lost wages and income from missing work
- Inability to earn similar income over the long term
When you bring a legal claim against a large corporation like Takata, it will fight hard to deny you the money you are owed. Avoid this possible outcome by hiring the accomplished legal professionals at Morgan & Morgan.
We will pursue every dime in economic damages that you are entitled to.
Explaining Non-Economic Damages
Some of the worst outcomes from a serious injury do not take the form of economic losses. For the intangible harms caused by faulty products, victims can pursue non-economic damages. Many Takata airbag settlements involve non-economic damages for claimants.
Non-economic damages are payments to the victim to compensate for the personal, psychological, and reputational harm they suffered from the accident. Some of the most common examples of non-economic damages include payments compensating for the following:
- Embarrassment
- Loss of social standing
- Loss of enjoyment of life
- Physical pain and suffering
- Emotional anguish and distress
- Anxiety disorder and depression
- Post-traumatic stress disorder (PTSD)
- Inability to engage in recreational activities
These are only a few examples of the intangible harms that can result from a Takata airbag injury. Determining the value of non-economic damages in a personal injury case is difficult.
Often, the opposing party will attempt to undermine the claims made by the plaintiff. Insurance agencies have an economic incentive to downplay the emotional and personal harm caused by their clients’ products.
When a consumer product has caused you or a loved one harm, reach out to the determined legal professionals at Morgan & Morgan. Our knowledgeable team consists of more than 1,000 trial-ready lawyers across the country.
We will not agree to an insufficient Takata airbag settlement in your case. Our legal team will doggedly pursue every penny you rightfully deserve.