Are car crash claims by stay-at-home parents less valuable?

On Behalf of | Aug 30, 2022 | Personal Injury |

Car crashes can cause tens of thousands of dollars in damage and injuries, possibly more in severe cases. Those affected by such crashes can file insurance claims and sometimes civil lawsuits, especially when they suffered bodily injuries that affect their daily lives.

The people affected by a collision can request compensation for lost wages, property damage and bodily injury. If the primary wage earner for your family gets hurt and can’t work for weeks, you may be able to recoup their lost wages so that your family can continue paying their bills.

A stay-at-home parent doesn’t provide any income for the household, so at first glance, you might assume that a claim after they get hurt in a car crash would be worth less than a claim related to the injury of the working parent. However, you may be able to see compensation for their unpaid labor.

How much is the labor of an at-home parent worth?

It is common for people to drastically underestimate the financial value of a stay-at-home parent. Families that have never had to pay for daycare, for example, may fail to comprehend exactly how expensive 40 hours of child care can be every week.

There are professionals that provide child care, cleaning, meal planning, cooking and even household management services like scheduling doctor’s appointments. Experts estimate that a stay-at-home parent who fully manages the household will perform work that is worth over $178,000 annually.

You would have to spend nearly $180,000 to seek the same full-time support from someone outside of your family. The more proof you have of your spouse’s frequent, unpaid contributions to the household, the easier it will be for you to factor in those unpaid tasks when evaluating an insurance settlement offer or preparing for a personal injury lawsuit.

Getting maximum compensation often requires effort

If you don’t understand the true financial impact of the car crash, how can you possibly obtain an appropriate amount of compensation for your losses? You need to understand what the insurance company will reimburse you for and put a price on your various losses.

Recognizing the financial value of your spouse’s household contributions can help you make the most of an insurance claim or a personal injury lawsuit following a car crash.