It is not difficult to find insurance for feature film production. However, finding an insurance agency with beneficial film insurance policies proves more difficult.
A customized insurance packet from an insurer with extensive experience in the film industry is irreplaceable; this personalized approach allows feature film producers, directors, production managers, and other primary decision-makers in the film industry to secure the protection they need without coverage gaps that less familiar insurers may include.
For individuals responsible for ensuring that all aspects of film production are adequately protected, customized insurance solutions address the specific risks and challenges of feature film production, such as cast insurance, equipment coverage, and liability protection.
Here are some of the essential insurance policies that can be customized with help from film industry experts so that your production does not face unnecessary risk.
Comprehending the Need for Customized Insurance
Feature film productions have exclusive risks that an insurer unfamiliar with the film industry is likely to overlook. Experienced insurance agencies will understand less common perils and how severely they can impact production. They will also be able to identify the challenges your specific studio is prone to facing based on your organization, processes, and staff.
While every production and team is different (and an expert can help you select coverages for your niche needs), there are some types of insurance that are a good fit for most productions. These include:
General Liability Insurance
Most film productions will never get off the ground without general liability insurance— many partners, venues, and rental agencies will not collaborate with studios that do not carry some level of general liability protection. General liability insurance covers third-party damage claims and medical bills.
For instance, if your team is filming in public and accidentally trips someone with a camera cable, that person may suffer an injury and need medical treatment. General liability insurance takes care of such situations.
Cast Insurance
The cast and crew of a feature film production are the lifeblood of the process; without them, the film would never be possible. If a cast member is injured or falls ill, the entire production could fall off schedule, impacting distribution deals, rental arrangements, and more.
Cast insurance offers financial protection for reshoots, delays, and potentially even medical treatment for talent, with more prominent names often demanding more coverage.
Equipment Insurance
The equipment that keeps a production going, including cameras, lights, microphones, and more, can severely delay a project should something go wrong. Equipment insurance offers coverage for rented and owned production equipment.
Such expensive gear can cost a significant amount to repair—finding a replacement is not only a burden to the film’s bottom line but can also delay any further shooting. Custom equipment insurance is essential so you can be sure the tools you are using are covered.
Errors and Omissions Insurance
Many insurance agencies that offer film insurance without a complete comprehension of the industry can neglect to include errors & omissions insurance, or E&O.
This type of protection is invaluable for a production, as accidental plagiarism, copyright infringement, use of trademarked materials without permission, or even defamation can occur depending on the type of film being produced.
The legal fees to fight these claims or the costs to pay damages can be substantial without insurance.
Workers’ Compensation Insurance
As with general liability insurance, most film productions must have some minimum level of workers’ compensation insurance to proceed with their projects.
Workers’ compensation offers financial assistance for crew injured or falling ill on the job. From covering their rehabilitation and doctor bills to making sure they receive income while they recover, workers’ compensation alleviates the financial strain for the production studio.
Should a worker pass away from a work-related injury, their family can also receive compensation through insurance.
Secure Your Feature Film Production With MFE Insurance
While any insurer can put together a basic general liability insurance policy or workers’ compensation package, only film industry experts such as MFE Insurance can make sure your production is fully protected.
We understand the risks exclusive to filming that might slip through with a less experienced insurer. Our customized coverage options are adjustable according to the type of production you intend to create, where you plan to film, and more.
MFE Insurance offers a quick, easy-to-use online portal where customers can submit claims and track their status in real time. Contact MFE Insurance to learn more about the custom insurance options we can provide for your production.