Loss of Household Services

Loss of Household Services

Present Value Loss of Household Services Assessments

Present Value Loss of Household Services Assessments

Household services represent significant value to most households. Simply stated, household services are services provided by individuals within their homes which can be quantified, and which have economic value.

  • Icon of a hand holding two small children to represent that child care is a household services that can be lost due to injury
  • Icon of a bowl of soup to show that cooking is consider a household service
  • icon of an iron to show that caring for clothing is considered a household service
  • Icon of a vacuum cleaner to show that house cleaning is a household service
  • Icon of a washing machine to show that caring for laundry is a household service

Present Value Loss of Household Services Assessments quantify the economic loss that accrues to an individual’s household as a result of his/her injury and its impact on his/her ability to perform non-market work, namely household services.

All Present Value Loss of Household Services Assessments are formulated by highly qualified financial analysts and forensic economists who employ the Replacement Cost Method, Labor Value Approach.

Triangle

The average adult in the United States contributes approximately $14,000 in economic value per year in the form of Household Services.

– The United States Bureau of Labor Statistics

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