The average person will struggle to put an accurate price tag on any injuries they suffered because of a fall, animal attack or car crash. Most people will add estimates for vehicle repairs, medical bills and other costs, like lost wages for the three days someone was in a hospital, and assume that the resulting figure represents the financial impact of their injury.
It is absolutely crucial for those hurt by the negligence or wrongful acts of others to acknowledge and quantify the immediate financial consequences, like medical bills. However, their daily lives will also lead to expenses because of the same injury.
Overlooking how changes in your daily routine will affect your finances might mean that you accept far less than you need in a personal injury claim.
How does an injury cost you money on a daily basis?
Serious traumatic injuries that require medical intervention often have lingering consequences. A head injury might permanently alter your sense of balance, making it impossible for you to clean the gutters outside of your home or go downstairs to do laundry.
Broken bones could cause a minor reduction in strength, low-grade pain and even range of motion issues. Although people might be able to push through that discomfort at work, using all of their resilience on the job might mean that they can’t do everything they once did to support themselves, take care of their family and maintain their home.
Many people fail to recognize costs associated with making their home more accessible after an injury and personal care or home maintenance expenses they may incur in the future because they can’t handle all of the same obligations they did prior to the injury.
How do you put a price on the housework you can’t do?
When it comes to major tasks done at specific intervals, like lawn maintenance or cleaning your gutters, you may be able to get a quote from a professional that lets you know what it will cost every year to outsource housework you can no longer do yourself.
Other household tasks may be harder to put a price on. Thankfully, there are online calculators that help you estimate the approximate financial value of the work you do around the house based on the number of hours you commit to different tasks.
Recognizing how the lingering effects of an injury can limit your independence, energy levels and ability to do manual labor is crucial when trying to place an accurate price tag on the injuries you suffered. Before you accept an offer from a homeowner’s or car insurance company, you first need to understand the true costs you will incur.