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£27 million: the cost of insuring Santa

£27 million: the cost of insuring Santa

Category: Insurance

Updated: 08/12/2016
First Published: 08/12/2016

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

As Father Christmas prepares for his big night, specialist insurance broker Towergate has estimated the cost to insure him as he journeys around the country spreading joy, delivering gifts, and eating mince pies. The figure: an impressive £27,143,554.20!

We all know Santa has a high risk and unique job, which is why he would require a number of specialist insurance policies to see him covered, not just on the night, but throughout his illustrious career. First of all, his house in the North Pole would certainly require some non-standard home insurance, being made of wood and more certainly listed, no matter how old you think he really is.

Second, his workforce of elves can certainly not be forgotten, with proper employers' liability insurance needed to provide adequate cover for any 'elf and safety injuries (pun courtesy of Towergate) suffered during their long hours of toy production. Wouldn't want Santa getting sued if his big bag of gifts falls on top of an elf!

Similarly, the famous workshop would surely need 24-7 cover against fire, theft, or snow-related damages. This commercial property insurance would certainly not come cheap. Another important business insurance for Santa to take out would be a public liability policy, so that if he does get stuck down a chimney or leaves soot marks on a prized carpet, he wouldn't have to pay the bill himself.

On the night itself, Father Christmas would need to ensure he is covered by a specialised travel insurance for those over the age of 65 – and find a company that is willing to cover sleigh-rides in the sky and climbing over rooftops for people of a certain advanced age. The sleigh itself should certainly not be forgotten, with commercial vehicle insurance hopefully covering Santa against knocking into the odd drone or plane. And with all those toys precariously flying about, they most certainly require some goods in transit insurance to cover any falls, breakage or – perish the thought – thieves stealing our precious presents.

And let's not forget about Santa's faithful reindeer. To be in top shape for their yearly outing, they would have to be covered by a top-notch pet insurance. I'm sure it wouldn't be easy getting a vet all the way out to the North Pole, so a good insurance would be crucial for preventing Santa from having to pay for it all himself.

Last, but certainly not least, Father Christmas would require a specialist performing arts policy to help protect his trademark 'ho ho ho' should anything go wrong with his vocal chords during the busy festive season. Here's hoping he's sipped enough tea and done enough exercises to keep his voice going again this year!

Drew Wotherspoon of Towergate commented: "Being Father Christmas is clearly a risky role and we've drawn upon our years of expertise and knowledge to estimate the kind of policies he'd need if such a role did exist. We love creating flexible policies for the more unique individuals and businesses out there, and if we were ever asked to insure the real Father Christmas, his advanced age, speedy delivery schedule, high value gifts and chimney and roof hopping activities all need to be accounted for."

What next?

Have you accounted for all your policy needs this Christmas? If you're going away, remember to take out sufficient travel insurance, and if you've got some prized presents sitting around your house, ensure that your home insurance covers the extra over the festive period. You may not be the real Santa, but that doesn't mean you shouldn't protect yourself!

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.