• Had the Great Fire of London happened today, it would have destroyed more than £7.5 billion worth of property
• Just as the great fire was caused by a malfunction of cooking apparatus, cooking appliances still cause 50 percent of accidental dwelling fires
• However fires in the home can be easily avoided if the right precautions are taken.
Between 2nd and the 5th September 1666, the great fire of London destroyed approximately 13,200 homes, around a quarter of all the housing stock in the capital. With an average London house price of £572,949 this would result the destruction of more than £7.5bn worth of housing stock.
However, back in 1666, London was far smaller in population and size than it is now. At the time, it was reported that the fire destroyed a quarter of all the housing stock in the capital. Taking this statistic into account, in today’s terms, the fire would have devastated around 870,000 London homes. The value of those homes in today’s terms would be a staggering £499bn.
A fire in the home can be truly devastating, but often easily avoidable. Just as the great fire was caused by a malfunction of cooking apparatus on Pudding Lane, latest figures show that cooking appliances caused 50 per cent of accidental dwelling fires in 2014/15 and was by far the largest ignition category. 36 per cent of accidental dwelling fires in 2014/15 were caused by “misuse of equipment or appliances”*
Adam Powell, Head of Operations at Policy Expert said: “While it is unlikely that we will ever see a fire of the same scale, the message here is to appreciate the devastation that fire can cause. Fire damage is one of the largest causes for insurance claims and many of these are avoidable if you take simple steps.
He added: “While our analysis represents a current value for the buildings destroyed, it still doesn’t even take into account the contents of these homes. The average home will have more than £20,000 worth of contents and it’s often undervalued by the policy holder. People should always think carefully about the value of their contents. If you have any special or expensive items like engagement rings or antiques, inform your insurer to ensure you are adequately covered.”
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