Titanic insurance document could fetch £50,000
The only known copy of an insurance ledger covering the hull of the RMS Titanic during its sea trials is to be sold at auction. The policy provides $100,000 worth of insurance coverage to the steel hull under the Atlantic Mutual Insurance Company, one of the ship’s major insurers. The binder was signed on 27 […] The post Titanic insurance document could fetch £50,000 appeared first on The…
A rare insurance document belonging to the RMS Titanic is set to be auctioned, potentially fetching a price of £50,000. The policy, issued by Atlantic Mutual Insurance Company, insured the ship's steel hull for $100,000 worth of coverage. Signed on March 27, 1912, just 19 days before the Titanic sank, the policy was paid within 30 days of the disaster.
It will be auctioned at Henry Aldridge and Son in Devizes, Wiltshire, on November 21, with an estimated sale price between £30,000 and £50,000. Atlantic Mutual Insurance Company, founded in 1838 in the US, was the largest marine and general insurance firm in North America by the mid-19th Century. Titanic's parent company, the Oceanic Steam Navigation Company, was its client.
The policy covered the ship for a year, effective from March 30, 1912. A handwritten addendum on the policy states: "To include the trip from Belfast to Southampton sailing on or after March 31, 1912 at 7:00 P.M., and the risk of trials on said trip, if any." This detail ensures the coverage also protected the ship's delivery to port.
The auctioneer's website claims it is "without equal" as no prior sale record exists of an original policy of insurance for Titanic herself, let alone with her major insurer.
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