Argo’s 12 Days of Santa’s Insurance: Sleigh Insurance

Argo’s 12 Days of Santa’s Insurance: Sleigh Insurance

Santa’s elves could probably whip up a transporter capable of making superheroes weep, but their boss prefers to stick with the classics.

Illustration of Santa working on his sleigh and an elf handing him a wrench

Here’s the thing about classics: They’re hard to come by. And because Santa-without-a-sleigh is just not an option, insurance really is the best policy.

Santa’s sleigh isn’t a car and it’s not a plane. So what’s an Argo underwriter to do? Offer an inland marine mobile equipment floater, of course.

This coverage would pay for repairs to the sleigh and for getting Santa to his backup ride as part of his business interruption coverage, said Dave Higley, senior vice president and head of E&S property and inland marine at Argo Group.

“The sleigh needs to be protected from the perils he will encounter such as fire, flood, roofslide and even theft by an evil elf,” said Higley, who estimated Santa’s annual premium to be $150,000.

Santa’s sleigh would be covered not only while he’s on-site delivering toys, but also while he travels around the globe from home to home. What wouldn’t be covered? Damage to chimneys and other property caused by the sleigh. For that, Santa would need a casualty policy.