UK Money News
20th December 2007
Santa insurance message 'relevant to all'
Elephant.co.uk has highlighted that Santa's poor driving habits are not necessarily friendly for car insurance premiums.
In finance news revealed today, the personal finance provider said that Santa's tendency to speed at 2,700 mph, have a small "tipple" after visiting people's homes and the level of mileage he generates (64,000 over the course of Christmas Eve along) would make his premiums "astronomical".
Brian Martin, managing director of elephant.co.uk, states: "[Its] underwriters would have a hard time working out an insurance group for Santa’s sleigh.
"They’re used to rating vehicles by the horsepower of their engines, but where does a sleigh with twelve reindeer power fit in?”
However, he did also add that Father Christmas may have good no-claims bonus potential as he "quite a few hundred years" under his belt when compared to the car insurance provider's oldest customer - who is aged 87.
In related money news, Admiral recently revealed that second-car families generate a lower number of car insurance claims.
It also added that seven million households run two cars.
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