Production Insurance

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Production insurance provides protection for filmmaker's contractual and legal obligations as well as for their assets. Filmmakers must assume responsibility for obtaining production insurance before they embark on a film project. Production insurance is generally a one-year policy which can be renewed as needed.

Production insurance accounts for several different eventualities. One of these is worker's compensation which covers medical expenses of production crew members who are insured on site and provides the income for replacements. Premiums are dependent on the job classification of each worker.

Another component of production insurance has to do with the production contract. The production insurance assures investors that the production staff will complete all contractual responsibilities.

The final element of production insurance is asset protection. This covers loss or damage to assets due to theft, accidents or a natural disaster.

Each production crew must make its own assessments regarding the type of production insurance that a particular project needs. Insurance options vary, depending on the film. Some insurance plans cover long-term projects while others are geared towards short-term projects. The insurance will also depend on the type of activities in which the presenters or actors engage. Films that include dangerous stunts or are filmed in an area perceived as risky will carry higher insurance premiums than other projects.

Production insurance generally includes General Liability insurance, video equipment insurance and, to protect against lawsuits regarding intellectual property rights, errors and omissions insurance.

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