Document, insurance policy document

One of the huge problems after the Great Fire of London was that no one had fire insurance so they had to find the money themselves to rebuild their houses. In 1680 the first insurance company, the Fire Office, was set up by Nicholas Barbon. Barbon was a building entrepreneur who had made money during the rebuilding of London. This document is an insurance policy (no. 1403) from the Fire Office and dates to 7 August 1682. The policy was taken out by Sr William Twisden on a house described as 'on the south side of Barbican now in the possession of James Sadler being the third howse westward from Redrose [Red Cross] Streete and distant from thence to the middle of the said howse about seventy fower foote'. The house was insured for £130. Twisden paid £5, 19 shillings and 2 pence for the policy. The policy has Barbon’s signature at the bottom. This is one of very few surviving policies from the Fire Office.

From 1680 the Fire Office also had a ‘company of men’ to put out fires so it provided firefighting services as part of the insurance cover for people’s homes. Other insurance companies were set up over the next few years, such as the Friendly Society in 1683 and the Hand in Hand Fire Office in 1696.