Jealous about the earning power of our footballing stars? Well, frankly, so am I. So, I thought, why not try and indulge ourselves in a little schadenfreude before the World Cup by examining the bills they pay?
Of course, this is only a real drop in the ocean in relation to their earning power, but it might give you the tiniest bit of satisfaction to find out that John Terry, one of England’s leading men at this year’s finals, pays an estimated 394 per cent more than average* to insure his home in Oxshott, Surrey.
In fact, here are our (very rough) estimates of what some of England’s biggest names might pay for home insurance cover on their primary home annually if they ran a quote through Confused.com:
Wayne Rooney (Manchester United): £754.36
John Terry (Chelsea): £1,398.72
Steven Gerrard (Liverpool): £722.49
Frank Lampard (Chelsea): £1,121.30
Rio Ferdinand (Manchester United): £775.23
These quotes may be pretty staggering, but the truth is that our formula only begins to tell the story. Gerrard, Rooney and Lampard have all been subject to high profile robberies over the last couple of years, and this would likely affect the cost of their cover – either by losing their no claims bonus or paying to protect it.
And that’s not all – a top England star could expect to need £5.5 million worth of life insurance and critical illness cover over five years according to our calculations. That depends on providers, and, of course, any medical conditions, and would see them paying around £6,600 a year – pretty hefty when you consider that Confused.com offers life and critical illness cover from as little as £1.55 a month.**
Of course, carrying home salaries of up to £6 million a year, that’s unlikely to lose them any sleep (and we should hope not if we want them to go all the way in South Africa!). After all, if they put away just £20,000 of that income into a market leading savings account paying 5 per cent, they would top that up with an extra £1,000 by the end of the year in just interest.
While we can’t promise to put that much money in your pocket, you could easily make some big savings by comparing home insurance, life insurance or any of our selection of money products.
* Source: AA Price index - Average home insurance premium = buildings insurance average of £230 plus contents average of £125. We ran quotes for five footballers on 18 May 2010 using an average model of a 9 roomed, 6 bedroom house containing 2 adults and 2 children, 5 years no claims bonus, £75,000 contents cover with £26,500 for high risk items. Accidental damage cover included. Prices differ according to area of residence. **Lowest priced quote for a 20 year old non smoking on 19 May 2010, male - £10,000 of Level Term and Critical Injury Cover over 20 year
