GM Payouts To Victims Will Range From $20,000 To Millions

The families of those who died in a faulty GM car will be entitled to at least $1 million.

After recalling more than 20 million automobiles so far this year, General Motors said Monday it will offer compensation to victims ranging from $20,000 to millions of dollars.

The car company said there is no cap to the amount it will pay out, and the families of those who died in a faulty GM car will be entitled to at least $1 million. Thirteen deaths over more than a decade are linked to problems with GM vehicles. The formula for the amount paid out will be as follows:

  • $20,000 for one night in a hospital
  • $70,000 for two to seven nights in a hospital
  • $170,000 for eight to 15 nights in a hospital
  • $500,000 maximum for 32 or more nights in a hospital
  • $20,000 maximum for people not hospitalized but treated as an outpatient

Those who partake in the voluntary compensation plan will waive their right to sue GM. Claims--which require supporting data such as photos, police reports, insurance claims, hospital records, or maintenance logs--can be filed from Aug. 1 to Dec. 31, 2014.

[Image: Flickr user Cliff]