Some car crash expenses are easy to calculate and are, therefore, simple to integrate into an insurance claim or lawsuit. For example, vehicle repairs or replacement costs have an obvious set value. Invoices can help estimate current and future medical expenses.
When calculating the financial impact of injuries, in particular, spouses often need to consider factors that may not automatically have a set economic value already attached to them. Specifically, they may need to address how their injuries affect their independence and their contributions to their families.
People might cook and clean for their families. They may spend much of their time caring for children or supporting their aging parents. The injuries they sustain can prevent them from performing those tasks. An inability to do household work can contribute to the total value of a personal injury lawsuit in some cases.
What is unpaid labor worth?
A full-time, stay-at-home parent provides incredibly costly services for the family. Researchers in 2019 estimated that the salary of a full-time stay-at-home parent represented about $178,000 in annual value for the family. For most households, hiring professionals to perform all of those services simply isn’t a realistic choice after a car crash with their current resources. Other family members may have to take on those duties, which can affect their quality of life and their health.
Families can potentially claim the value of lost household services in cases where injuries prevent people from performing unpaid labor. Typically, the family needs to determine what services an individual provided previously and how many hours per week or months they allocated to those responsibilities.
From there, they can look at the local market rate to determine what those services might cost if the family had to hire a professional. Trying to establish a reasonable estimate for the long-term impact of serious car crash injuries can be a very difficult process. Families often need assistance, as oversights on their part might result in them accepting inadequate compensation and unreasonably low settlement offers.
Establishing a realistic idea of the financial impact of car crash injuries is crucial for getting fair compensation. Unpaid household services can be an important consideration when pursuing damages after a car crash.
