Informative Article
- Thread starter Fylms Insurance Services
- Start date
Sooooooo.... I have an insurance question for you.
As a small production company (LLC), can coverage be purchased for the company as a whole, as opposed to per project?
I mean, the local wedding videography companies don't purchase coverage for each event... do they? They'd have general liability insurance to cover everything.
So how about for small film companies, that want to bang out a half-dozen short films each year?
btw... you can use the BR formatting tag to put a line-break between your sig-image & text.
As a small production company (LLC), can coverage be purchased for the company as a whole, as opposed to per project?
I mean, the local wedding videography companies don't purchase coverage for each event... do they? They'd have general liability insurance to cover everything.
So how about for small film companies, that want to bang out a half-dozen short films each year?
btw... you can use the BR formatting tag to put a line-break between your sig-image & text.
yeah this is a perfect example of an annual DICE policy. This will provide general liability, auto liability(if need be), work comp equipment coverage, etc.
videographers that shoot weddings have annual policies which we can do for film producers.
Thanks for the tip
videographers that shoot weddings have annual policies which we can do for film producers.
Thanks for the tip
So honestly, what about little hobbyist like me? I don't have a company etc.. Is there a product that fits?
In scouting for locations I was asked a few times if I had insurance. Can I attach things to my home owners etc?
In scouting for locations I was asked a few times if I had insurance. Can I attach things to my home owners etc?
This is a good topic.
I had a budget on my short film of $10K, and spent every dime even though:
1. Equipment and insurance for same were provided by my film school.
2. All production items and people were covered by the school, *provided I got the paperwork done in time.
To cover my show cars it was too late for the school paperwork, and before putting the show cars under my own personal auto insurance, I called around and found a company willing to cover the production for $5K for *one week. That's 1/2 my budget and sounds way out of reach for most productions.
Sounds like a pretty good deal for the insurance companies, but some productions do a lot of SFX, stunt-work, etc., and really should have insurance.
What are small productions to do? Forget the insurance and cross their fingers?
What have others done to provide no- or low-cost coverage?
I had a budget on my short film of $10K, and spent every dime even though:
1. Equipment and insurance for same were provided by my film school.
2. All production items and people were covered by the school, *provided I got the paperwork done in time.
To cover my show cars it was too late for the school paperwork, and before putting the show cars under my own personal auto insurance, I called around and found a company willing to cover the production for $5K for *one week. That's 1/2 my budget and sounds way out of reach for most productions.
Sounds like a pretty good deal for the insurance companies, but some productions do a lot of SFX, stunt-work, etc., and really should have insurance.
What are small productions to do? Forget the insurance and cross their fingers?
What have others done to provide no- or low-cost coverage?
wheatgrinder-For smaller hobbyists like yourself short term production polices are available. You choose the dates and what coverages you would like, this sort of policy can be considered with no strings attached. Your Homeowners policy will not respond in the event of a loss due to business operations at any given location, you should consider securing a very basic annual policy which provides general liability for starters...this is what all locations are looking for. Minimum premium for something like this is roughly $425.
Mr. Jones- You are correct, insurance can get pricey for ultra low budget productions...depends on where you look though, $5k for a one week shoot does seem over the top. The policy limits and lines of coverage are fundamental elements that make up the premium. The quote you received could have been much more than you needed. I would be more than happy to provide you with further information when you reach that point.
Mr. Jones- You are correct, insurance can get pricey for ultra low budget productions...depends on where you look though, $5k for a one week shoot does seem over the top. The policy limits and lines of coverage are fundamental elements that make up the premium. The quote you received could have been much more than you needed. I would be more than happy to provide you with further information when you reach that point.
Thanks for the reply, Fylms. I'll send you a note when my next production gets further along-- it's a positive thing that you and maybe other companies are considering reasonable costs that aren't priced for the big productions. No "film" equipment around here is rented with insurance (common everywhere?), and so productions either pony up the insurance or take their chances...