Film productions have plenty of insurance options to consider. From equipment coverage to mandatory workers’ compensation insurance, production teams must carefully curate their protection to avoid overspending without compromising on coverage.
However, many do not realize that DICE insurance can be a valuable partner in this endeavor by bundling multiple types of coverage into one accessible package. DICE insurance is a product that protects a film project from pre-production to distribution.
Thanks to this broad coverage, productions can rest assured that their most pressing needs are met. Learn more about how DICE insurance can address risks from script to screen.
What is DICE Insurance?
DICE stands for Documentary, Industrial, Commercial, and Educational films. This covers a wide range of potential productions, all of which can benefit from DICE coverage.
As a type of production insurance, DICE addresses common perils (such as equipment damage) and basic minimum requirements for most states, including general liability and workers’ compensation insurance. However, DICE policies can be customized if a studio’s production anticipates a specific risk not covered in the basic policy.
Pre-Production Protection
Pre-production is essential for a film, as it sets the stage for success. However, even before filming starts, many things can go wrong. DICE insurance covers location scouting, hiring, and even equipment rentals.
This allows the studio to confidently select the right people, equipment, and locations for their project without risking the film’s finances before it gets off the ground. Suppose the project comes upon an unexpected hurdle.
In that case, DICE insurance can also offer protection against the financial ramifications of pre-production changes. Studios can face delays or cancellations without fear of sabotaging their entire budget due to heavy monetary losses.
Coverage During Production
Production itself is the main timeframe in which accidents can happen. Equipment, case, and crew are all prone to accidents, damage, or bodily harm. While DICE insurance typically includes general liability and workers’ compensation coverage for such instances, it is essential to read the fine print to understand coverage limits and exclusions.
For instance, if a film relies on an A-list celebrity, the insurance covering illness or injury may need to be expanded. The claim cap might also benefit from an increase since compensating such a prestigious actor may cost more than paying for an extra.
Another area of protection that DICE offers is security against unexpected interruptions. Suppose a project faces weather problems, equipment breakdown, natural disasters, and more. In that case, DICE insurance can streamline the continuity of production without financial setbacks.
Post-Production Security
Post-production may include less activity, but it is still a busy, tumultuous time for studios. Editing equipment, the studio itself, and any post-production facilities are all at risk, threatening to throw off the timeline.
Suppose footage is damaged or editing sessions fail to save. In that case, DICE insurance can provide peace of mind that this extra time or loss does not cause financial fallout.
Distribution and Release Protection
Once a film hits distribution, the race is almost entirely run. However, studios should not stop thinking about insurance coverage just because the bulk of the work is over. Film copies and materials still need to be kept safe during distribution, as losses can be financially catastrophic.
Marketing and promotional materials may also have financial ramifications if lost or damaged. Not only is the lost item itself worth some portion of the budget, but the opportunity cost of missed advertising can lead to significantly lower engagement with the film.
Additionally, the film may still face liability issues once it airs. From allegations of copyright infringement to accidental use of trademarked items or individual likenesses, studios may receive a financially damaging lawsuit at this stage. DICE insurance can help cover essential elements, such as legal fees, including not only the main release itself but also screenings and the main premiere.
Protect Your Production With MFE Insurance Today
Any film project must be approached carefully in terms of planning its content and venues and securing it against unpredictable accidents, damage, and harm to cast and crew. This process becomes easier with DICE insurance coverage, which combines many of the most necessary protections into one centralized policy.
To get the best insurance for your production, be sure to trust your insurance needs to industry professionals who specifically work with film studios. This in-depth knowledge is necessary to recommend applicable products without overburdening a studio with protections it will never use.
The professionals at MFE Insurance can help you secure the proper coverages without leaving any problematic gaps in protection. Contact MFE Insurance to enjoy peace of mind and financial security with a personalized quote.