Anyone who has worked in the movie industry can probably tell you some amazing war stories. As spectacular as the end product can be some of the unexpected accidents involved in filming can be just as spectacular, but not in a good way. Sylvester Stallone spent nine days in the ICU after being punched in Rocky IV. George Clooney fell from a chair while filming “Syriana” which resulted in a severe head and spinal injury. And during the filming of “The Passion of the Christ” Jim Caviezel was actually struck by lightning. Anything can happen during filming, and this is why you need to have video production insurance.
Types of Video Production Insurance
Some of the most important types of film-related insurance you should carry include:
Errors and Omissions
Depending on what kind of video you’re producing you might need additional coverage. If you use any type of vehicle during filming you will definitely want automobile liability and collision insurance. If you’re traveling internationally you will certainly want travelers insurance. Filing abroad opens up a whole world of potential risk and liability. Keep in mind that most underwriters will want to conduct a site visit and read the film script before they offer coverage, so be prepared for that.
The entertainment industry is changing year after year. Many companies are pushing themselves for bigger and better productions. Although there are many rewards to this type of career, many factors go into making it a successful businesses. Creators still have to acquire video production insurance in order to protect their investments. Different insurance companies include various types of policies. Still, there are some coverages that are more relevant than others.
Any production company has a multitude of equipment many of which have been a huge investment. However, at any time during a shoot, accidents can occur. Theft may also be a factor during transportation and storage. This type of coverage can include cameras, lighting, microphones, lenses and much more.
Electronic Equipment Coverage
Besides the parts on-set, many electronic components are necessary during post-production. Unfortunately, these may also be subject to damage or theft. You can protect your computers, monitors, and tablets under this coverage.
For those with larger productions, studios house everything from green screens to props. In addition to theft, there may environmental factors that can damage this property. Safeguard your property in case of flooding, fire or storm damages.
When starting your business, video production insurance is vital. A great insurance company is ready to help you customize your policies for a full coverage.