Film and Video Production Insurance

Yes, you can purchase short-term production insurance. Even though buying insurance for only when you need it may seem like a good idea, there are a few reasons why you should maintain continuous coverage or purchase annual production insurance policies:

• Insurers increases their rates when you start and stop coverage. Insurance companies like consistency. If you cancel a policy, they might be unwilling to sell you another policy, or decide to charge more for the same coverage.
• Some policies won't provide coverage for a project after you cancel them. Claims-made policies, such as professional liability insurance, only cover claims made while the policy is active. If you're sued for a completed project after you've canceled coverage, you won't be covered—even if you were insured while you did the work.
• You could lose out on attaining clients. Some clients may require you to obtain insurance, which means you're at risk of losing out on potential clients if you cancel your policy and are unable to provide proof of long-term production insurance.

Remember, you're responsible for any business-related losses while you don't have commercial insurance. That includes:

• Work-related auto accidents. For that you need commercial auto insurance, or hired and non-owned auto insurance (HNOA) for vehicles used by your business but not owned by it. Your personal auto policy will only cover a commute.
• Work-related medical expenses. Your personal health insurance won't cover injuries that are related to your job, which is why you need workers' compensation insurance. It's also required by law in most states.
• Accidents and damages at your home. Homeowner's insurance won't provide coverage if a client is injured at your office or your video equipment is stolen. That's why you need general liability insurance and commercial property insurance—or the two together in a business owner's policy.

In addition to the policies mentioned above, production studios often invest in the following types of coverage:

• Builder's risk insurance: Also called course of construction insurance, this policy helps pay for damage to a structure in progress and set materials.
• Commercial umbrella insurance: Umbrella insurance boosts the coverage of your general liability, commercial auto, and employer's liability insurance once they reach the limit on a claim. It is bought in $1 million increments.
• Special event insurance: You may need special event insurance to cover activities outside your typical operations, such as holiday parties, fundraisers, or other events.
• Environmental insurance: This policy protects production studio owners against legal costs related to claims related to environmental mishaps, such as accidental stream pollution that occurred while creating a short film.

Our licensed insurance agents can help you choose the right entertainment insurance coverage that not only matches your insurance needs, but helps you comply with state laws and other requirements and save money. Once you select the production insurance policies you need, you can get a certificate of insurance (COI) within 24 hours.