Any film project is a significant undertaking, whether you are creating a feature-length film or a thirty-second commercial. Both require equipment, a cast and crew, potential venue rental, and possibly stunts or other factors. However, insurance needs between projects can vary drastically, and what works for a feature film might not provide the protection a commercial or documentary needs. That is where DICE insurance comes in.
But if you have secured production insurance in the past, or if you are still new to the various types of insurance protection in the industry, you might wonder: why DICE? In some instances, production insurance can be the right choice. In others, you could be better off choosing a DICE insurance package. This primer will show you the difference between production and DICE insurance, their purposes, and how to choose between them.
Essential Takeaways
- Both DICE insurance and production insurance can be worthwhile considerations for a film project, but their uses differ.
- DICE insurance is used for productions in the Documentary, Industrial, Commercial, and Educational categories.
- Production insurance is most commonly used by studios working on a single production in a year.
- DICE can cover multiple projects within the same calendar year.
What Is DICE Insurance?
The DICE abbreviation is short for Documentary, Industrial, Commercial, and Educational films. These are the categories served by DICE insurance, which typically include commercials, educational content, and similar projects. One of the biggest advantages of DICE insurance is its flexibility; it offers numerous types of coverage under a single umbrella and can insure multiple productions per year.
DICE is also easy to customize. By working with a film industry professional to select your insurance, you can create a customized package that addresses the needs specific to your project. Common inclusions are general liability, rental insurance, equipment, and workers’ compensation.
What Is Production Insurance?
Production insurance functions similarly to DICE insurance in many ways, but with some important differences. Among them is that production insurance is usually meant for only a single project. Like DICE insurance, production coverage can include a variety of protection subsets and be personalized to suit your project’s needs. While it is sometimes possible to acquire production insurance for more than one project per year (e.g., with a blanket policy), doing so can introduce new challenges to your workflow.
Coverage under production insurance often includes general liability, workers’ compensation, equipment, and crew. Sometimes, additional protections such as auto liability may be included, but always check the details of any policy you are considering.
When Do You Need DICE vs. Production Coverage?
Both production and DICE insurance are invaluable to the studios, and one is not inherently better than the other. Rather, they each have advantages and specific use cases.
Choosing Production Insurance
Production insurance is one of the most common choices for a reason. Your next project might be a good fit for production insurance if:
- You are working on a single production
- Your budget is high
- You are not producing a film within the DICE categories (e.g., a documentary)
These are the main differentiators for production coverage. Be aware that even if you are producing a feature-length film, your insurance might not cover some basics without adjustments. For example, international shoots or stunts might require riders to qualify for coverage.
When DICE Is a Better Option
Many studios choose DICE insurance because it can be an affordable alternative to production coverage and, in some instances, provides protection that is harder to find in production policies. DICE could be your go-to if:
- You are operating within one of the DICE filming categories
- You produce multiple projects per year
- You want something simple and inexpensive
- You are not using high-risk techniques (e.g., stunts)
DICE insurance is often less expensive because it does not include protections for unpredictable situations such as stunts. Often, this is because the types of projects that use DICE insurance are predictable and do not regularly engage in such scenarios. This simply means that you might need to customize your policy to include more protection.
Get the Right Insurance for Your Next Project
Film production does not have to come with unnecessary financial risk. By being strategic in your insurance selection, you can protect against the many threats that studios experience without buying more insurance than you need. The professionals at MFE Insurance can help you choose between a DICE policy and production insurance, customize your coverage to fit your specific project, and manage claims quickly so you can focus on getting your film to market. Contact MFE Insurance today to get started on a personalized solution.