How would you build Santa’s insurance policy?
For property and general liability
Santa would need a substantial property and liability policy with a hefty property damage limit. While he and his reindeer fly with finesse, you never know when he’ll tear through a roof, overestimate the size of a chimney, or get a little too curious about pretty Christmas ornaments.
We suggest inland marine for Santa’s sleigh with coverage for loading and unloading gifts. In addition, Santa may want roadside assistance in the event of a breakdown; after all, he is on a tight time limit!
For the livestock
From Dasher, to Dancer, to Prancer, all nine of Santa’s reindeer are precious goods. A farm policy might help ensure a replacement if necessary (but we’d rather not even think about that tragedy).
For the business place
Santa will need manufacturing services and E&O coverage for his workshop, a workers’ compensation policy for the elves – if it’s required in the North Pole – and an employment practices liability insurance (EPLI) roll on. Wonder if his EPLI rate should be cut in half because elves are small?
Fancy – but necessary – additions
We’ve all seen it. The random bearded man claiming to be the real deal, taking hundreds of dollars from unsuspecting parents who want the perfect picture for their holiday card. Santa must have identity theft and restoration coverage. And because there are some heartless people in the world and Santa’s a grand celebrity, he’ll need protection for kidnap and ransom.
Because it’s Santa, there’s no need for exclusions for flying objects or breaking and entering. The way we see it, if the stockings are hung, there’s a tree with room beneath, or a plate of cookies out with nobody’s name on it, it’s fair game for Santa to consider it an invitation to hop down a chimney.
If you have other thoughts about coverages Santa needs, share them with us here. We’d love your creative suggestions!