Video production business insurance can cover much more than video equipment. Videographers also need protection from production interruption, liability, filming delays due to weather, and loss of technicians or cast members. Insurance comparison websites can give several quotes from top companies for exactly the right coverage.
By putting your ZIP code into the FREE quote finder you can start looking for a perfect policy now!
A small video business being conducted out of the home may not be completely covered by a home insurance. That home policy may cover loss of home office equipment but it may not be enough to continue the business if the losses are great. Homeowner policies can be enhanced to cover a home business with special policies for computer programs and databases.
Video Production Business Insurance Coverage
You can visit the Creative Cow forum?to see what other videographers are saying about the need for insurance to cover business equipment.?The main things videographers need insurance for are:
- Liability
- Props, wardrobe and sets
- Vehicles
- Copyrights
- Official clearances
- Workmen?s compensation
- Production shoots
- Errors and omissions
- Property loss
- Rented equipment
Even expanded homeowner policies will not cover a video production business for liability.
Also, the policy will eventually need to be expanded to include camera and lighting equipment used outside the home.
Liability Insurance for Video Production Businesses
The two basic types of risks that should be covered by insurance are general liability and professional liability.
General liability insurance covers the business for damage or injury to other people and their property. This will cover the medical costs if someone is accidentally injured on the shoot or if someone?s property, such as a musical instrument, is damaged by an unforeseen accident.
Professional liability insurance is also called errors and omissions and protects the business from contract disputes, reshooting costs and legal defense if the dispute goes to court. Professional liability also covers copyright infringement which most commonly arises from the use of music for the video.
Six Main Types of Video Production Insurance Programs
It is important to get the right kind of insurance coverage for a video production business. Some programs are very expensive and may give coverage for things that are not needed for certain shoots. The most efficient way to get the lowest quote for the right coverage is through an insurance comparison website.
1. Short Term Film and Video Production Insurance is for one production shoot that does not have hazardous activities such as fights, stunts, boats, high scaffolding, airplanes or pyrotechnics. It covers:
- General liability for a single video shoot for up to 90 days
- Rented and owned equipment
- Automobile
- Worker?s compensation
- Third party property damage
- Negative film and faulty stock
2. 
Annual Equipment Floater covers rented and owned equipment. Also part of Documentary, Industrial, Commercial, Educational (DICE) coverage, it can pertain to homeowner coverage or a separate floater can be purchased.
3. DICE/Annual Productions Insurance covers all of the insurance needs for a video production business. This includes:
- General liability
- Third party property damage
- Rented and owned equipment
- Sets, wardrobe and props
- Office equipment
- Automobiles
- Worker?s compensation
- Negative and faulty stock
4. Multimedia Production covers producers and distributors for errors and omissions for media production, distribution and broadcast of radio programs, television programs and motion pictures.
5. Foreign Production insurance covers a single video production that is shot anywhere outside the US or Canada. Some policies exclude certain countries. It covers:
- Liability
- Property
- Rented automobiles
- Travel insurance
- Worker?s compensation
6. Movie Boat insurance covers shoots that are being filmed on water. This includes boats, platforms, docks, barges, marinas, piers and wharves. It covers:
- Excess liability
- Wharfinger?s liability
- Tower?s liability
- Charter?s liability
- Hull and machinery
- Protection and indemnity
- Running down clause
- Jones Act
Exclusions Mean the Insurer is not Liable
Insurance policies usually have exclusions which are situations the insurance company will not cover. Negligence on the part of the policy holder is a common exclusion. As mentioned above, foreign production insurance may exclude certain countries that have unstable governments, are war torn or have recent acts of terrorism.
If the video production business wants to shoot in one of the excluded countries, they will have to get special insurance for coverage in that country, and it may be expensive.
There may also be exclusions for the coverage of the policy holder?s equipment that is rented to others. For example, if the equipment is stolen from a car, there may need to be a police report that proves forcible entry. Insurance companies may also decide to repair damaged equipment rather than replace it. Stunts and pyrotechnics are also common exclusions. In order to use them in the shoot, special coverage will need to be purchased.
Insurance for Injured Employees
Worker?s compensation insurance will pay for medical costs and rehabilitation for injured workers who are injured while working on the shoot. It will also compensate injured employees for loss of wages and, if they are killed, and give death benefits to their families. This usually includes acts of terrorism.
The systems for worker?s compensation insurance vary from state to state. How claims are handled, impairment evaluation, the amount of benefits for injured workers and dispute settlements are controlled by state court decisions and statutes. Video production businesses may locate in a state that has favorable worker?s compensation systems. To learn the Insurance Journal?s take on the current status of this coverage go to their website here.
There are a lot of factors that go into making a successful video. Each of these factors needs to be considered for insurance coverage, because if one aspect goes wrong, the whole project should not be threatened.
Video production business insurance is essential for protection against the many things that can go wrong on a video shoot. If cameras are accidently broken or a technician or cast member becomes injured or sick, insurance can insure that the video production company is able to continue functioning. Insurance comparison websites will make available policy quotes from the top insurance companies for the right amount of coverage for the lowest price.
To use the FREE quotes tool here simply enter your ZIP code and get rates now!
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