The London Olympic games are anticipated to be the most expensive Olympic games in history. Not too shocking to report as the preceding games of the past 50 years have all exceeded their budgets.

The London Olympics beginning July 27th are ‘significantly more’ over budget than the average excessive spending over the last decade with estimated spending ranging from $15 billion to $20 billion. The trend to excessively overspend is somewhat credited to each location being highly reliant on the information from the International Olympic Committee (IOC) and the other previous host cities from around the world. A significant amount of information is transferred, with an inevitable gap in experience. The games are always starting from scratch in areas, making it a difficult time to anticipate actual costs.

To compare, our Georgia insurance company looked at the costs of the 1996 Olympics in Atlanta. We found reports estimating costs of the Atlanta Olympics close to $1.8 billion. A fraction of the cost.

What If The Olympics Were Cancelled Today?

Beyond having to hear the most depressing news to date, the Olympics are insured for their insurable risks.

The grand total of the London Olympic’s insurable risks reach a total of $ 4.9 billion.

What Are The London Olympic Games Expected Income?

It is easy to criticize such excessive spending, but at what cost are the Olympics compared to it’s reward?

Although the Olympics are a marketing and advertising wonder bringing in billions of dollars and economic boost to the city, the London games are not expected to recover from there costs. There are reports of the positive impact of pride in the city as the games deliver a strong sense of identity. Unfortunately, damage to the economy financially is near certain.

Costs Can Be Difficult To Estimate!

When planning an event of such great scale or even to step into a market for the first time, it is difficult to understand what something costs, what is a good price, and how to shop for the better products!

We have found our clients and their friends often are confused when shopping for a particular type of insurance coverage for the first time. We are here to help.

How much is business insurance? Is there a one size fits all answer to advise entrepreneurs? Our insurance agents can help you find answers.

How do you shop for good insurance coverage and know you are with the best insurance agency for your unique needs?

Southern States Insurance works to provide it’s customers with the best insurance coverage available for their unique risk exposures. We write with numerous carriers and shop each clients policy to provide the most competitive price coupled with a personal agent to provide guidance and advice. We want to see you succeed.

We hope you enjoy the Olympic games! July 27th couldn’t get here soon enough! Price can be hard to estimate and costs can quickly become overwhelming. Let our insurance agency help you understand your insurable risks and help you receive good insurance coverage.

Learn from the London Olympics

Know what insurance costs are appropriate and expected for your unique risk exposure. Costs can be hard to estimate on your own with out the experience of a professional, Southern States Insurance can help provide sound insurance advice and help you succeed.