When shooting a film things do not always go as planned. Items on the set can break, people can get hurt, and a number of other events can happen to cause damage or injury. To be prepared for the unexpected it is important to have film insurance. This will cover the production company and their entire staff working on the film in case something was to happen during the shoot.
There are several different types of film insurance. One of the easier factors in determining what type of insurance to get is how long the schedule for shooting is going to be. There are two different short term polices. One policy will cover the company for up to 60 days. The other policy will cover the company for up to 180days. With this type of coverage, the film can have a projected budget ranging from $300,000 to one million dollars. There are also policies for annual productions. This is for movies that are going to take several months to shoot and have a budget of up to five million dollars. There is also the foreign production policy. This policy will cover the film for up to one year regardless of what the budget is.
When looking for a film insurance policy it is important to understand what this policy is going to cover. Many film insurance polices cover equipment in case it is damaged. Both company owned and rented equipment is insured under this type of policy. All included in this policy are the sets, props, and wardrobe that are going to be used for the productions. If there is negative, stock the policy will cover this as well. Film insurance covers damage done by third parties including unauthorized people that have come onto the set. There is coverage for extra expenses such as medical bills and other bills due to unexpected damaged during production. The production company will have general liability coverage. They can also be cover for automotive accidents and other physical damages that may occur due to their equipment on the set. Film insurance companies will also provide workers compensation coverage.
There are certain qualification and restriction based on film companies in order to qualify for some of these coverage options. For movies that contain stunts, explosions, and scenes of violence there is special coverage available. The more action a film has there is an increased chance that someone could get hurt. These types of insurance coverage options are usually for large budget movies. These policies include Movie Boat insurance for scenes that will be shot on a boat. There is Charterer;s Legal Liability Insurance as well as other liability policies.These policies are rather expensive but will protect a film company if something unexpected where the happen on set.
When shooting a film unexpected events can happen. Equipment can break or a person can get hurt. It is important that a production company have film insurance. This will help protect them in case an accident happens while shooting.