What would the Great Fire of London cost today?
Saturday, 09 03 2016, Category: Insurance and Reinsurance, Country: United Kingdom
A disaster on a similar scale to the Great Fire of London in 1666, which destroyed around a quarter of all the housing stock in the UK capital, would cost a staggering £499 billion if it happened today.
That is the conclusion of analysis from UK home insurer Policy Expert, which based its findings on the average London house price today of £572,949 and the fact that a quarter of London’s homes today constitutes around 870,000 homes.
If the same number of homes were destroyed as then - approximately 13,200 – the bill would be a more manageable £7.5 billion.
Source: Intelligent Insurer