Nobody wants Santa’s monthly car insurance bill.
While it appears that Kris Kringle has never had an accident when traveling on Christmas Eve and he lives in a low-crime area, he does travel at high rates of speed and puts a lot of miles on his vehicle.
“We took an in-depth look at Santa’s driver and vehicle profile to see which factors would raise or lower his premiums. Our team also spoke with insurance expert and owner of All About Insurance ‘Saint’ Nick Vitali to get a better idea of how different factors could affect Santa’s rates, what types of coverage he should buy, and how high his costs might be,” said car culture publication, Quartz.
When considering his age, mileage, driving record and other factors, Kris Kringle would pay a whopping $6,879 a month for insurance. That is $82,550 a year!
When it comes to factors that would lower Santa’s car insurance premiums, Quartz reports that his driving record is “impeccable.”
“As far as we know, and perhaps thanks to Rudolph lighting the way, Santa has never had an accident in his sleigh in more than 1,700 years of operating it. There are currently no records of any speeding tickets or other moving violations, either,” said writer David Straughan.
Another factor in car insurance is the location where the vehicle is “registered, driven and stored.”
“While Santa’s post office for the North Pole, located in Rovaniemi, Finland, isn’t completely risk-free, it’s safe compared to many areas.”
Santa also appears to have a good credit score.
“While there’s no verifiable information regarding Santa’s net worth or how he continues to pay for his operation, it’s safe to say that credit is not an issue for him.
“Unless Santa’s putting everything on one or more credit cards and failing to pay what he owes, we can assume that he has excellent credit. In most places, a person’s credit rating plays a vital role in their premiums. Lower credit scores result in higher premiums and vice versa, meaning that Santa’s excellent credit likely helps to keep his rates low.”
And, Santa is married, which also will help lower his premiums.
On the “naughty” side, Santa has some issues.
Primarily, he puts a lot of miles on his vehicle.
Quartz reported that the Massachusetts Institute of Technology estimated that Santa drives his sleigh 75.5 million miles per year. The average is 13,476 a year. Hmmm.
Older drivers — those in their 70s and 80s — pay more for insurance.
“That’s potentially bad news for Santa’s wallet. Saint Nicholas of Myra, the historical Santa, was born in what is now Turkey in A.D. 270. That makes Santa 1,753 years old in 2023–well beyond the point at which rates start to increase again based on a driver’s age.”
Santa also needs to have a full-coverage policy.
“With all of the driving that Santa does, he’s at higher risk of getting into an accident than most drivers. And since he has to navigate through a variety of climates and topographic conditions, his sleigh is also at an elevated risk of damages that would fall under a comprehensive claim.”
Santa also should consider add-ons such as roadside assistance and rental coverage, Quartz said.
“Time is of the essence for Santa during his annual Christmas Eve mission. To complete his deliveries, Santa needs to travel 75.5 million miles over the course of a single night. Even with the help of time zones, any interruption on his route could spell disaster.”
