You have to admit - good old Saint-Nicolas leads a devil of a commercial transaction. He employed a huge number of elves and maintains a herd of reindeer. He runs a factory that operates 24/7, with a warehouse operation and busy shipping. He has at least a specialty vehicle, but we suspect it also needs backups. Like any good business person, he needs solid insurance coverage to protect the company should do no wrong.
Gregory Boop of insurance companies About.com page has already examined the different types of insurance coverage that Santa needs.
First, as an employer, it is mandated to have excess workers' compensation for his elves. And to be a good employer, it should also provide health insurance, too. Elves are very loyal workers - to show appreciation for what Santa should consider disability insurance and a retirement planning type, such as 401k options
We agree that it needs a commercial general liability coverage, and coverage of product liability .. Gregory suggests that Santa needs commercial auto insurance and a runner specialized equipment ... but we are not sure we would classify Santa's sleigh like a car - we think it might be best for Santa to have the cover of the aircraft. It could also benefit from travel insurance and pet insurance for reindeer. Gregory also suggests that Santa should have a key man coverage on itself because it is so essential to the operation. Good idea.
Now, aside from his business, the Father himself has specialized insurance needs. It needs a hell of a life insurance policy and poses significant challenges to his insurance agent. He became older, he is overweight, he was known to smoke a pipe and drink cognac, and he has a lead foot when driving his sleigh. He also faces a number of risks in the workplace. Even before that great day of the year, he travels to thousands of shopping centers and encounter millions of children. This year, that means it is at increased risk for the H1N1 virus. Not to mention all the other risks that Santa faces - it may be exposed to everything from back pain while lifting children to wet tower caused by the terrified children. It's hard to believe, but not everyone loves Santa.
We now know that Santa has already thought about its insurance coverage because we read it a few years ago he assured his trademark beard with Lloyds of London. That's a good start, but today, he would do well to have insurance against identity theft, too.
Santa, we're worried about you. Call your agent, we can help!
The owners and Santa Claus
And your host? Are you well covered to entertain a V.I.P. as the Father in your home? What if your dog bites or Santa Claus is stuck in chimney - are you covered against these or other accidents, while it is on your property? If you have home insurance or rental insurance, personal liability and medical payments should cover parts, but you may want to check your coverage limits and deductibles. If you hire a Santa stand-in for a party, there are other things you should consider limiting your liability :. Covering Santa Clause
If you plan to leave sweets for the big guy, Mrs. Claus issues this plaintive plea: Please skip the cookies - Santa has a weight problem. Consider leaving a healthy snack. If you decide to leave cookies anyway, you can get Santa to sign Christmas Cookie Liability and Indemnity Agreement (PDF). And something that should go without saying - leaves no wine or brandy out - you do not want to be responsible if a drunken father leaves your house and a DUI accident
Happy holidays to all! - We'll see you in the New Year!
Protect the big guy: Santa and the insurance
Protect the big guy: Santa and the insurance -
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