Rare Titanic Insurance Record Heads to Auction with High Price Estimate
(MENAFN) A rare historical insurance document linked to the RMS Titanic is expected to attract significant interest at auction, with the only known surviving copy of a ledger covering the ship's hull during its sea trials estimated to sell for between £30,000 and £50,000.
The document records an insurance agreement providing $100,000 in coverage for the Titanic's steel hull through Atlantic Mutual Insurance Company, one of the major insurers involved in covering the passenger liner.
Signed on March 27, 1912, the insurance binder was issued just 19 days before the Titanic sank during its first voyage to New York, resulting in the deaths of approximately 1,500 people aboard. Following the disaster, the full insurance limits were settled within 30 days.
The historic record is scheduled to be offered for sale on Nov. 21 through Henry Aldridge and Son auctioneers in Devizes, Wiltshire, where its expected value ranges from £30,000 to £50,000.
Atlantic Mutual, established in the United States in 1838, had grown into North America's largest marine and general insurance company by the middle of the 19th century.
The insurer provided coverage to the Oceanic Steam Navigation Company, the parent organization behind the construction and operation of the Titanic.
Historical accounts suggest that Atlantic Mutual assumed a larger share of the vessel's insurance coverage than any other individual company participating in the insurance consortium.
The surviving document offers a rare glimpse into the financial arrangements surrounding one of history's most famous maritime disasters, preserving details of the protection secured for the ship shortly before its tragic sinking.
The document records an insurance agreement providing $100,000 in coverage for the Titanic's steel hull through Atlantic Mutual Insurance Company, one of the major insurers involved in covering the passenger liner.
Signed on March 27, 1912, the insurance binder was issued just 19 days before the Titanic sank during its first voyage to New York, resulting in the deaths of approximately 1,500 people aboard. Following the disaster, the full insurance limits were settled within 30 days.
The historic record is scheduled to be offered for sale on Nov. 21 through Henry Aldridge and Son auctioneers in Devizes, Wiltshire, where its expected value ranges from £30,000 to £50,000.
Atlantic Mutual, established in the United States in 1838, had grown into North America's largest marine and general insurance company by the middle of the 19th century.
The insurer provided coverage to the Oceanic Steam Navigation Company, the parent organization behind the construction and operation of the Titanic.
Historical accounts suggest that Atlantic Mutual assumed a larger share of the vessel's insurance coverage than any other individual company participating in the insurance consortium.
The surviving document offers a rare glimpse into the financial arrangements surrounding one of history's most famous maritime disasters, preserving details of the protection secured for the ship shortly before its tragic sinking.
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