If you have any experience with film production, you know that there are a lot of risks involved. Whether on-site or in a studio, many factors are at play and something can go wrong at any time. As a result, it’s essential that you carry an adequate amount of film production insurance. Below are the key concepts you should understand about production insurance.
What Is It?
Production insurance is the term used for coverage that’s intended to protect film production companies or film-related projects from liability claims and other potential losses. Each state has its own insurance requirements, so filmmakers and their staff need to make sure their coverages meet their guidelines.
What Does It Cover?
There are a number of options available to cover your company, employees, owned or rented property and any third parties who may be impacted by your production activities. Some of these include:
- General Liability
- Errors & Omissions
- Workers’ Compensation
How Long Does It Last?
There are options for short-term, long-term and annual coverage. Short-term options are for those who want to be covered on a project-by-project basis. They can cover as little as one day of production. Long-term policies are for filmmakers who have multiple projects lined up over a specified period of time. Annual policies are better for active production companies who shoot at least four projects a year.
Finding the right mix of coverages can be challenging on your own. Work with an agent who’s experienced with film production insurance to craft a policy that meets your needs.