What is film production insurance?
Film production insurance protects your production company and/or project from related liability by covering a specified value amount.
Since no two projects are alike, a good film production insurance policy is tailored to a production company’s needs at the time of purchase.
Every production insurance policy needs to be tailored for the company if an annual policy. Or for the project if a short term film production policy.
A film insurance policy is based on the best offerings from insurance companies that provide entertainment production coverage.
In general, a solid policy will protect the producer from liability related to injuries on set and any accidents in working vehicles.
Also covering theft and 'loss and damage' of rented and owned equipment. Policies can also protect the producers from other libel or copyright infringement claims.
What's the difference between short term production insurance versus annual?
Short Term production insurance covers your productions on a project-by-project scale. Purchased on a production-by-production scale, short term production insurance policies can cover as little as one day of production (although you should cover your prep days).
Planning to shoot multiple times throughout the year?
Then you'll want an annual policy.
Covering all the projects you’re working on at once, annual policies are most typically employed by active production companies.
It is always a good idea to quote both annual and short term production insurance policies when shopping for insurance.
You will often find that the difference in price is nominal when considering the longer period covered.
Year-round video production insurance is a good idea if you:
What is general liability?
Although film production insurance policies vary widely, you’ll always need general liability.
General liability covers bodily injury and property damage that occurs during the course of filming. Cast and crew are exempt from this and covered separately through a workers compensation policy.
This coverage is required by most city/county permitting offices in order to obtain a permit.
What is equipment coverage?
Most film production insurance policies start with coverage for rented and owned equipment, such as the camera, grip and lighting gear.
Most rental houses for professional production gear require 100k -500k minimum for rental equipment. Regardless of what is actually rented.
What is your coverage area?
A coverage area is where your film insurance policy takes effect. If you’re purchasing short term production insurance, just opt for coverage wherever your shoot is taking place.
If you’re purchasing an annual policy, however, it is important to make sure your coverage areas include anything you might need.
If you are purchasing a domestic policy (US), are you covered in all states? If you are purchasing international coverage, are you covered in the areas where you most often work or shoot?
Add coverage for an additional fee is possible, but it is most cost effective to broaden coverage when securing the original film insurance policy.
What is worker's compensation?
Workers compensation protects you should something happen to your employees on the job. It's important to go over how you are covering crew (employees) and independent contractors.
You need a worker compensation policy if...
Your workers compensation policy...
Should I add-on stunts?
Remember that stunts can always be added to an existing policy. These items can be added for 'x' amount of day or for the remainder of a short term or annual policy.