LONDON, September 9, 2015 /PRNewswire/ --
How British workers measure up to Taylor Swift style insurance valuations
Taylor Swift might have insured her legs for £26 million ($40 million) according to recent news stories, but British workers also put high price tags on their body parts.
The average builder thinks their legs would be worth £1,185,000* for being crucial tools of their trade. Engineers and lawyers are even more precious about their limbs, putting their worth at £1.2 million. And interestingly, Telecoms workers value their legs more highly still at £1.9 million.
£1,140,000 is what doctors and nurses would ask for and the average shop worker, traditionally on their feet a lot, valued their legs at £1,045,000.
The research, conducted by family focussed insurance brand There® asked 2,000 professionals across 20 different industries to put an insurance value on different body parts to highlight their impact on earning potential. Eyes were the most valued, followed by face, hands then legs.
Engineers top the tables with an insurance value on their eyes of £3.4 million, followed by plumbers and electricians at £3.1 million and telecoms workers at £2.6 million.
Plumbers and electricians also put one of the highest price tags on their hands at £2.2 million, with their index finger alone being worth £1,196,107 in value from loss of income.
Philippa McLaglen, Marketing Manager from There® explains: "Taylor Swift reportedly insuring her legs isn't as mad as it sounds; they're part of the 'Taylor Swift' brand and so can affect her earning power. Similarly damage to a builder's leg or an engineer's eye could have a big impact on their earning potential. Being fit and healthy is crucial to an individual's ability to do their job which is why, despite so many other financial pressures, 1 in 4 in our study has considered insuring themselves against being unable to work due to injury. With financial protection, anything is better than nothing to pay the bills if you get injured and can't do your job."
In fact 75% of designers said they wouldn't be able to do their job if they injured their hands or arms, making the £1.4 million insurance price tag they'd place on them understandable. 77% of the hospitality industry also admitted they couldn't do their jobs if they injured their hands.
The research also showed a difference between self-employed and employed workers. Self-employed people place more emphasis on the value of their bodies. This is reflected in the fact the self-employed are more likely to think insurance against injury is a sensible precaution (57% vs. 45%) and that 64% of them feel more pressure to take care of their physical well-being because they are self-employed.
Philippa McLaglen, Marketing Manager of There® continues: "The self-employed are especially at risk and feel the pinch more than those who have the safety net of an employer that provides sick pay. Our Too ill to work insurance is designed to pay out if someone does injure themselves, like breaking an arm or leg, and can't do their job for a while."
* Source: The research was conducted by OnePoll on behalf of There® surveying 2,000 UK workers across 20 industries. Carried out online August 2015.