Argo’s 12 Days of Santa’s Insurance: Reindeer Coverage

Santa’s sleigh would be grounded without his team of antlered haulers, so he should make sure they are covered, too.

Day Two: Reindeer Coverage

Santa’s reindeer seem to be reasonably well-behaved and remarkably long-lived. Still, there are some situations for which Santa would be wise to consider insuring the herd – especially his famous flyers.

Santa’s options include:

• Liability and property coverage

If one of the reindeer were to run off the North Pole acreage and collide with a passing vehicle, a Colony Specialty Contract P&C Farm & Ranch policy would cover liability damages to the vehicle and bodily injury to any occupants, said senior underwriter Rhonda Hoffman. The property portion of the policy would cover the loss of the reindeer. At $3.60 per head, the annual premium would be about $32 for nine reindeer (can’t forget Rudolph).

• Attractive nuisance

The Farm & Ranch policy would also cover injuries to curious visitors who come onto Santa’s property to get a look at the reindeer.

• Theft

What thief wouldn’t be interested in flying reindeer? A theft extension to an all-risks livestock mortality policy through ArgoGlobal, with no deductible and each of the nine reindeer valued at $100,000, would mean at least $55,000 in annual premium for Santa, said Jenny Boatman, a senior underwriter – livestock at ArgoGlobal.

• Emergency vet care

An emergency life-saving veterinary fees extension would provide a sub-limit in case a reindeer has an accident and requires emergency life-saving surgery.

In addition to being well cared for and up-to-date on vaccinations and deworming, each animal would also need to be individually identifiable.

“Shouldn’t be a problem for Rudolph and his red nose,” Boatman noted. “The others might have to be microchipped, though.”

And no, Rudolph’s famous nose isn’t eligible for its own coverage.

“Unfortunately, we wouldn’t be able to provide for loss of use of Rudolph’s nose as this is a standard exclusion for livestock mortality coverage,” Boatman said. “We would recommend that Santa use a satellite navigation system as a backup.”

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